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SIP closures rise 7.4% month-on-month
The Business Guardian
|June 20, 2023
The number of systematic investment plan (SIP) accounts being discontinued rose 7.4 percent month-on-month to 14.19 lakh in May, despite the stellar inflow into mutual funds through the route.
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At the same time, the number of new SIP registration rose to 24.7 lakh last month from 19.56 lakh in April, implying fresh registration of over 5 lakh, data with the Association of Mutual Funds in India (AMFI) showed.
The higher number of SIP registration than discontinuation shows investors’ continued confidence in the route, DP Singh, Deputy MD and CBO at SBI Mutual Fund, said. This could also be due to an easy cancellation facility available through online modes, he added. This could also be due to an easy cancellation facility available through online modes, he added.
Diese Geschichte stammt aus der June 20, 2023-Ausgabe von The Business Guardian.
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