Systematic Investment Plan pan India touched an unprecedented level of Rs. 10,000 crores and the trend is still bullish. With several new investors joining for SIPs and the present investors continuing, Gujarat’s equity mutual funds also continue to swell in line with India. The rally in the stock market has also helped fuel asset growth.
The profits of individual stocks getting reinvested and new entrants infusing more, the assets managed by equity linked funds have seen record levels. The Assets under management in Equity Mutual Funds have increased from 1.05 lakh crores in May 2021 to 1.24 lakh crores in August. As per data compiled by the AMFI, the surge is about Rs. 7763.8 crores between July and August.
Several companies, irrespective of their size or sector saw their stock prices surge like never before, several of them delivering returns ranging from 2 to 6 times within a year. For a longer period, the returns were even higher. Analysts believe the surge may be attributed to diversion of funds from real estate investments and Bank FDRs which has lost charm owing to increasing inflation.
