Prudent Achieves Milestone with Rs. 1,000 Crore SIP Book
Prudent Corporate Advisory Services Limited has reached a significant milestone with its monthly SIP book surpassing Rs. 1,000 crore. This growth highlights the rising adoption of systematic investing in India, with millennials and younger investors playing a crucial role. The company is poised to continue driving mutual fund investments, mirroring the transformation seen in the U.S. with 401(k) plans.
- Country:
- India
AHMEDABAD – Prudent Corporate Advisory Services Limited, a prominent retail wealth management group, has announced that its monthly Systematic Investment Plan (SIP) book has exceeded Rs. 1,000 crore. This development underscores the company's role in advancing the structural growth of mutual fund investments in India.
While the mutual fund industry has seen a nine-fold expansion since April 2016, Prudent's SIP flows have surged nearly 14 times, highlighting the importance of SIPs as a key driver of long-term equity participation. The company draws parallels to the U.S. 401(k) plans, which significantly reshaped savings and investments there.
Younger investors, particularly millennials, are central to this growth, with 45% of Prudent's SIP book coming from this demographic. The company continues to see sustained inflows, driven by investors under 45. This trend reflects a long-term opportunity for wealth creation in India, as SIPs become more widely adopted.
(With inputs from agencies.)
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