Mutual fund assets rose 35% in FY24, hit new highs: AMFI
mutual funds industry increased nearly Rs 14 lakh crore to a record Rs 53.40 lakh crore as of March 2024 compared with Rs 39.42 lakh crore as of March 2023, according to AMFI Mutual Fund Industry Fiscal year 2024 report. The percentage gain of over 35% was the highest since fiscal 2021 when the industry had grown 41%.
The strong gain in industry assets 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, converting into an investor base of around 4.46 crore, according to the report.
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View Details» <div data-placement=«Mid Article Thumbnails» data-target_type=«mix» data-mode=«thumbnails-mid» style=«min-height:400px; margin-bottom:12px;» class=«wdt-taboola» id=«taboola-mid-article-thumbnails-109341571»>Women comprised 23% of the investors based on their share of the AUM and men comprised 77%. The individual investors comprised 60% against institutional investors which comprised 40%.
Individual investors have dominated mutual fund categories such as equity, hybrid, and solution-oriented schemes. They have led the growth chart as households in the country increased their capital market participation through the mutual fund route. Equity, hybrid, and solution-oriented categories together accounted for nearly 58% of the industry assets and 80% of the folio count as of March 2024.
The share of assets of these categories increased from 45% in March 2019 to 58% in March 2024. The folio share declined from 84% in March 2019 to 80% in March 2024.
The equity-oriented mutual fund categories grew by 55% in fiscal 2024 to Rs 23.50 lakh crore, led by strong
