Mutual fund SIP inflows jumped over 2 times in Narendra Modi's second term as PM
SIP contribution by mutual fund investors has grown over two times in Narendra Modi’s second term as PM from Rs 8,183 crore in May 2019 to Rs 20,371 crore in April 2024 (last available data for comparison), an analysis by ETMutualFunds showed.
The number of SIP accounts has also increased from 2.73 crore in June 2019 to 8.70 crore in April 2024, according to the monthly data released by the Association of Mutual Funds in India (AMFI).
The number of mutual fund folios have surged by around 118% from 8.32 crore in May 2019 to 18.14 crore April 2024, according to the data of folios released by AMFI.
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The mutual fund industry’s assets under management (AUM) increased by 121% from Rs 25.93 lakh crore in May 2019 to Rs 57.25 lakh crore in April 2024. According to the monthly AMFI data, the net inflows in the mutual fund industry have also gone up from a total inflow of Rs 76,989.81 crore reported in May 2019 to Rs 2.39 lakh crore in April 2024.
Now coming to the equity mutual funds’ AUM, the net AUM went up by 242% in the last five years of Modi’s government. Among all equity categories, smallcap funds witnessed the highest increase in AUM by around 473% in the last five years of the Modi government. The AUM of smallcap funds as reported in May 2019 was Rs 46,441.55 crore, which increased to Rs 2.66 lakh crore in April
