Mutual fund assets soar 35% to record Rs 53.4L cr in FY24

New Delhi, April 16

The mutual fund assets surged by Rs 14 lakh crore or 35 per cent year-on-year to a record Rs 53.40 lakh crore in FY24, propelled by the growing participation of retail investors and buoyant equity markets.

This percentage gain was the highest since fiscal 2021 when the industry had grown by 41 per cent, the Association of Mutual Funds in India (Amfi) said in its annual report.

The robust gain in the industry’s assets under management (AUM) was also replicated in the growth of investors in mutual funds, with the number of folios closing at a record high of 17.78 crore, adding an investor base of around 4.46 crore.

Women comprised about 23 per cent of investors, while men accounted for around 77 per cent. The adoption of systematic investment plans (SIPs) continued to rise, with monthly net inflows touching about Rs 19,300 crore in March 2024. For fiscal 2024, net inflows through SIPs stood at Rs 2 lakh crore, showing increasing investor confidence and a disciplined investing approach.

“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 Rs 14 lakh crore, reaching 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 said.

Individual investors played a key role in driving the growth trajectory, especially in equity, hybrid, and solution-oriented schemes, which collectively accounted for 58 per cent of the industry assets. — PTI 

Investors’ base swells by 4.46 cr

• According to the Association of Mutual Funds in India, the number of folios closed at a record high of 17.78 crore in FY24, adding an investor base of around 4.46 crore. Women comprised about 23% of investors, while men accounted for around 77%
• The adoption of systematic investment plans (SIPs) continued to rise, with monthly net inflows touching about Rs 19,300 crore in March 2024. For fiscal 2024, net inflows through SIPs stood at Rs 2 lakh crore