Mutual fund assets rise 35% to record ₹53.4 lakh crore in FY24: AMFI annual data
Upstox
2 min read • Updated: April 16, 2024, 5:00 PM
Summary
Individual investors played an important role in driving the growth trajectory, mainly in equity, hybrid, and solution-oriented schemes, which collectively accounted for nearly 58% of the industry assets and 80% of the folio count by March 2024.
The mutual fund assets grew by 35% or ₹14 lakh crore year-on-year (YoY) to reach a new record of ₹53.40 lakh crore in FY24, backed by the growing participation of retail investors and a strong equity market.
This marks the highest percentage gain since fiscal 2021, when the mutual fund industry expanded by 41%, according to the Association of Mutual Funds in India's (Amfi) annual report.
The industry witnessed a massive gain in assets under management (AUM). It was also reflected in the growth of investors in mutual funds, with the number of folios reaching a record high of 17.78 crore to add an investor base of about 4.46 crore.
Women accounted for about 23% of investors, while men formed around 77%.
The systematic investment plans (SIPs) were popular among investors as monthly inflows reached ₹19,300 crore in March 2024.
'FY24 emerged as landmark period for domestic mutual funds'
"Fiscal year 2024 has emerged as a landmark period for the domestic mutual funds industry, witnessing a remarkable surge in assets under management (AUM) by nearly ₹14 lakh crore, reaching a record high of ₹53.40 lakh crore as of March 2024, compared to ₹39.42 lakh crore in March 2023," the report said.
Individual investors played an important role in driving the growth trajectory, mainly in equity, hybrid, and solution-oriented schemes, which collectively accounted for nearly 58% of the industry assets and 80% of the folio count by March 2024.
Equity-oriented categories saw a 55% increase in assets during FY2024, reaching ₹23.50 lakh crore, driven by strong inflows and mark-to-market gains.
Meanwhile, debt funds saw moderate growth of around 7% during the fiscal year, reaching ₹12.62 lakh crore in assets.
Flexi-cap was the largest equity fund category, followed by large-cap funds. Multi-cap funds reported a growth rate of 85%.
Passive funds benefitted from institutional investment flows, especially into exchange-traded funds (ETFs). As a category, ETFs have assets of ₹6.64 lakh crore as of March 2024.
With PTI inputs