Mutual fund assets soar 35% to a new peak of US$ 638.83 billion (Rs. 53.4 trillion) in FY24

Mutual fund assets surged by US$ 167.48 billion (Rs. 14 lakh crore) or 35% year-on-year to a record US$ 638.83 billion (Rs. 53.40 lakh crore) in FY24, driven by increased participation from retail investors and buoyant equity markets, according to the Association of Mutual Funds in India (Amfi) annual report. This growth rate marked the highest since fiscal 2021, when the industry expanded by 41%.

The industry's robust asset under management (AUM) growth was mirrored in the increase in mutual fund investors, with the number of folios reaching a record high of 17.78 crore, attracting approximately 4.46 crore new investors. Women comprised around 23% of investors, while men comprised about 77%. The adoption of systematic investment plans (SIPs) continued to climb, with monthly net inflows reaching approximately US$ 2.31 billion (Rs. 19,300 crore) in March 2024. Throughout fiscal 2024, net inflows through SIPs totalled US$ 23.93 billion (Rs. 2 lakh crore), reflecting growing investor confidence and a disciplined investment approach.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.