SIPs on a roll

Apart from minor hiccups, the Indian investor's interest in systematic investment (SIP) continue unabated. Asset management companies (AMCs) witnessed a rise in SIP collections in March by Rs 694 crore to Rs 7,119 crore from Rs 6,425 crore collected in February. After the reintroduction of long term capital gains (LTCG) tax in the current budget, there were some concerns about equity investments but with uncertainty surrounding gold and real estate as asset classes, investors have realised that equity can give the best returns. Even in the backdrop of stock prices correcting post budget, the month of March saw an all time record high monthly SIP collection in the recent past. Fund classification by SEBI and the resulting realigning of them have left the investors somewhat apprehensive as well. AMFI data shows that most of the SIP investors continued with their investments despite all of these challenges. According to AMFI data, the total SIP collection in fiscal 2017-18 was to the tune of Rs 67,190 crore, up by 53 per cent from Rs 43,921 crore mopped up in fiscal 2016-17. According to AMFI data, 2.11 crore mutual fund SIP accounts helped fund houses net a t