Nearly 30 percent of the nearly 660 respondents said the relative ease of selecting a fund is something they’d like to see. 23 percent of the respondents voted for single transaction and less documentation for multiple schemes. A quarter of respondents need all three things while investing sip.
The survey was conducted by Aditya Birla Sun Life Mutual Fund. The respondents were investors and other stakeholders.
In the same survey, 83 per cent of those investing in SIPs said they would advise others as well. 85 per cent of the people said that they have invested in multiple SIPs and the chances of multiple SIPs increase with age.
Half of the respondents believe that SIPs help in building long-term corpus with the benefit of compound interest and this would be the primary reason for them to recommend the SIP mode of investment.
SIPs help in maintaining investment discipline, remains the single most important reason for investors to choose a systematic mode of investment. They also help with lower ticket sizes. Not surprisingly, most of the first time SIPs were below Rs 5000, followed by 26 per cent saying their first SIPs were between Rs 5000-10,000.
Interestingly, women are more willing to start a new SIP at 20 years (33%) than men (22%). This suggests that women are more prone to start their SIP journey at the age of 20. This is a major change in the investment behavior of the category which is a reflection of changing societal norms driven by higher access to education, skill-building and awareness of financial independence.