MUMBAI, 08 OCTOBER, 2020 (GPN): Mr NS Venkatesh, Chief Executive, AMFI, speaking on the September 2020 monthly mutual fund data said:

“Steady Y-o-Y as also Q-o-Q rise in Average AUMs for the MF industry during the July to September 2020 quarter at INR 27.74 lakh crores is reflective of continued confidence of growing number of investors in Mutual Fund as an asset class for fulfilling long term wealth creation objective.

It is very heartening to observe sustained continuity in the matured investor behaviour. Systematic and disciplined Investment, as reflected in the robust rise in SIP accounts, rising number of new SIPs registered during September 2020, coupled with continued steady monthly SIP contribution, amid volatile movement in market indices.

Preference to Large and Mid-Cap funds, Focused funds category, as also continued strong emergence of ETFs as the low-cost mutual fund investment avenue, have been the high points during September 2020. On the Debt side, investors have preferred to continue with their investment in Banking & PSU Fund, Short Duration Funds as also overnight funds.” ENDS