According to the latest data, fund managers bought shares worth a net Rs 76,906 crore (USD 12 billion) in the first half of the ongoing financial year.
Mumbai: Association of Mutual Funds in India has clarified on lump sum redemptions as normal investment process by /MF/SIP investors and that current redemption from mutual funds should not be considered as a worrying factor, said AMFI, chief executive Venkat N Chalasani.
" Mutual fund investors may be opting for a systematic investment plan of Rs 10,000 per month for a desired goal like buying a car, children's education etc. but when they withdraw the total investment after a period of 5 years or 10 years, it turns out to be a lump sum amount of several lakhs of rupees," Chalasani elaborated.
The above investment process should not be portrayed as a negative development in the media which has been the main platform for disseminating information and awareness about the mutual fund industry, AMFI chief executive said.
( Source : Deccan Chronicle )
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