The assets of mutual funds experience a remarkable surge of 35%, reaching a historic milestone of Rs 53.4 trillion in the fiscal year 2024

The assets of mutual funds surged by Rs 14 lakh crore or 35 percent year-on-year, to a record Rs 53.40 lakh crore in FY24, driven by the increasing involvement of retail investors and thriving equity markets.

This percentage surge was the most substantial since fiscal 2021, when the industry had expanded by 41 percent, as reported by the Association of Mutual Funds in India (Amfi) in its annual report.

The substantial increase in the industry’s assets under management (AUM) was also mirrored in the growth of mutual fund investors, with the number of folios reaching a historic high of 17.78 crore, attracting an investor base of approximately 4.46 crore.

Females comprised approximately 23 percent of investors, whereas males constituted roughly 77 percent. The adoption of systematic investment plans (SIPs) continued its ascent, with monthly net inflows reaching approximately Rs 19,300 crore in March 2024. In fiscal 2024, net inflows through SIPs totaled Rs 2 lakh crore, showcasing mounting investor confidence and a methodical investment approach.

“The fiscal year 2024 has emerged as a pivotal period for the domestic mutual funds industry, experiencing a notable upsurge in assets under management (AUM) by nearly Rs 14 lakh crore, soaring to a record high of Rs 53.40 lakh crore as of March 2024, compared to Rs 39.42 lakh crore in March 2023,” the report stated.

Individual investors played a pivotal role in steering the growth trajectory, particularly in equity, hybrid, and solution-oriented schemes, which collectively represented 58 percent of the industry assets. — PTI

Investor base expands by 4.46 crore

As per the Association of Mutual Funds in India, the number of folios reached a record high of 17.78 crore in FY24, attracting an investor base of approximately 4.46 crore. Women accounted for about 23% of investors, while men constituted around 77%. The adoption of systematic investment plans (SIPs) continued its upward trend, with monthly net inflows reaching approximately Rs 19,300 crore in March 2024. In fiscal 2024, net inflows through SIPs amounted to Rs 2 lakh crore.