Investors in the semi-urban and rural pockets of the country have outstripped their urban counterparts in terms of new systematic investment plan (SIP) account openings in mutual fund (MF) schemes in recent times.
In the past year, investors from beyond the top 30 cities (B30) accounted for 60 per cent of the net additions in SIP accounts in active equity schemes.
The MF industry classifies investors into two broad subsets - T30 and B30. The top 30 cities, which have the highest MF investments, are called T30. The rest of the country is classified as B30. An analysis of industry data shows that the number of B30 SIP accounts in active equity schemes jumped 42 per cent during the September 2023 to September 2024 period to 42 million. The growth in T30 accounts was lower at 28 per cent.
This story is from the November 21, 2024 edition of Business Standard.
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This story is from the November 21, 2024 edition of Business Standard.
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