MFs growing at rate of 15 per cent: Kotak Mutual Fund

"Mutual funds are growing at a rate of 15 per cent annually in the country," KMF national head (sales and distribution alliance) Manish Mehta told reporters.

"Indian mutual fund industry is in a growth phase with investors willing to test equity mutual funds. The Systematic Investment Plan (SIP) is gaining immense popularity among investors as an efficient tool for regular and disciplined investments. With SIP, one need not worry about market volatility or timing of market," he said.

Mehta further said "SIP has been a key focus area at KMF. Our SIP books have grown almost 10 times in the last three years. Every year we celebrate SIP day in August."

He added that their investor awareness campaign has been a resounding success with over 70,000 people opting to invest through SIPs.