New Delhi: Late ace stock market investor Rakesh Jhunjhunwala had once advised people to invest their money in Mutual Funds SIPs to get significant returns in future. Speaking at an event, Jhunjhunwala had advised people to invest in good Mutual Funds in SIP form. “Investment in SIP makes sure that the investor pumps in money throughout the seasons and it is not related to ups and downs in the market as well on tips of experts,” he had said.
Often called the ‘Warren Buffet’ of India, Jhunjhunwala said investors can be rest assured to get 15-21 per cent returns in long term SIPs. The market expert further said that he can guarantee that SIP investments will give better returns as compared to Life Insurance Corporation (LIC) schemes, Bank deposits or PPF.
He added that people planning to invest their money for kids’ education, daughter’s marriage and to construct their own house should plan for SIP investments.
Mutual Funds SIP investments rise
Association of Mutual Funds India (AMFI) reported that Mutual fund assets surged 35 per cent in fiscal 2024 to a new high. AMFI said that the domestic mutual funds industry witnessed huge investments in 2023-24. The assets under management (AUM) spurted by nearly Rs 14 lakh crore to a record Rs 53.40 lakh crore as of March 2024 compared with Rs 39.42 lakh crore as of March 2023, the association stated.
The data showed that the equity-oriented mutual fund categories increased 55 per cent in fiscal 2024 to Rs 23.50 lakh crore.
Equity mutual fund asset trend
Equity mutual fund category
AUM as of March 2024 (Rs crore)
AUM as of March 2023 (Rs crore)
% change
Flexi Cap Fund
350186
241683
44.90%
Large Cap Fund
314155
235760
33.30%
Sectoral/Thematic Funds
297358
172819
72.10%
Mid Cap Fund
296986
183256
62.10%
Small Cap Fund
243368
133384
82.50%
ELSS
213760
151751
40.90%
Large & Mid Cap Fund
205737
127842
60.90%
Value Fund/Contra Fund
149099
90584
64.60%
Focused Fund
129704
98673
31.40%
Multi Cap Fund
124682
67338
85.20%
Dividend Yield Fund
23915
13994
70.90%
(Disclaimer: This article is only meant to provide information. News9live.com does not recommend buying or selling shares or subscriptions of any IPO and Mutual Funds.)
Late ace stock market investor Rakesh Jhunjhunwala had advised people to invest in Mutual Funds SIPs as the investments would give better returns that FDs, PPF and LIC policies Personal Finance Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
