Mutual Fund SIP: Systematic Investment Plan is not an expense but an investment made for the future. This is the statement of Radhika Gupta, MD and CEO of Edelweiss Mutual Fund. Radhika Gupta has said these things while writing in response to a post on social media. On Tuesday, September 10, mutual fund body AMFI released the investment data for the month of August, according to which SIP investment in mutual funds in August 2024 has reached an all-time high of Rs 23547 crore.
SIP investment exceeds monthly expenditure on medicines
On the social media platform X, a user named Tijori shared data on the increase in sales of medicines in the domestic market along with the jump in investment through SIP in mutual funds from March 2018 to July 2024. Sharing this data, the user wrote, the monthly expenditure of Indians on SIP has also surpassed the monthly expenditure on medicines in March 2024. According to the data, the SIP investment in March 2018 was Rs 7119 crore, while the domestic pharma sales figure in the same month was Rs 9990 crore. The investment made through SIP in March 2024 was Rs 19,271 crore, which was more than the Rs 16,158 crore spent on medicines in March 2024. The user wrote in his post that before March 2024, Indians used to spend more on medicines than on financial peace of mind.
Random Stat
India’s monthly spend on its SIP’s beat India’s monthly spend on medicines only a few months back – March 2024
Until then, Indians were spending more on pharmaceuticals every month than financial peace of mind😊 pic.twitter.com/wPn65uuzca
— Tijori (@Tijori1) September 10, 2024
There is no cost on SIP
Responding to this post, Radhika Gupta wrote, first Mercedes, then medicine. By Mercedes she means investment and by medicine she means expense. She wrote in her post, everyone is worried about SIP investment lagging behind after its growth. But I want to improve it – SIP is not an expense but an investment for the future. She has appealed to Indians to keep investing.
First Mercedes then medicines 😊
Everyone’s worried about being beaten by SIPs. But small correction – SIP is not a spend, but an investment in the future.
Keep investing in India 🇮🇳 https://t.co/1wKYHRoslA
— Radhika Gupta (@iRadhikaGupta) September 11, 2024
Investment in mutual funds through SIP is increasing
Actually, investors are liking investing in mutual funds through SIP. As a result, the figure of SIP investment is touching the all-time high level every month and the number of newly opened SIP accounts is also witnessing a strong increase.
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SIP investment in mutual funds at new all-time high, Rs 23547 crore investment came in August 2024
