New Delhi, Aug. 18 -- If you are a new investor considering investing in mutual funds, it is recommended that you consider systematic investment plans (SIPs). For the uninitiated, SIPs enable small investors to purchase mutual fund units at regular intervals, typically every month, every quarter, or every fortnight, across various price points.

The data released by theAssociation of Mutual Funds in India (AMFI) reveals thatSIPcontributions has been growing month after month. In July, total SIP contribution across mutual funds stood at Rs.28,464 crore, which is 21.9 percent higher than one year ago, when it was Rs.23,332 crore.

In this financial year itself, SIP contribution has grown around 7 percent since April, when it stood at Rs.26,...