Record high! Mutual fund AUM cross ₹50 lakh crore milestone, reveals AMFI data
₹50 lakh crore assets under management (AUM) in the month of December 2023, the AMFI data released on Monday showed. What is awe-inspiring is that it took barely 13 months to take the overall AUM from ₹40 lakh crore to ₹50 lakh crore.
Mutual Fund folios reached an all-time high of 16,48,90,272 in December 2023 while the SIP (systematic investment plan) contribution touched ₹17,610.16 crore. “While the MF industry took almost 50 years to build the first ₹10 lakh crores of AUM, the last ₹10 lakh crores, from ₹40 lakh crores to ₹50 lakh crores was amassed in just over a year.
The entire mutual fund industry in India including the AMCs and the Regulator have put in focused efforts to reach investors across the country with support from the MF distributors," said Venkat Chalasani, Chief Executive of Association of Mutual Funds in India. He further added, “The more encouraging aspect is the constant retail participation in a disciplined manner through the systematic investment planning (SIP) route.
The B30 locations have instilled a new drive in the MF investment and the distributor fraternity has been working towards deeper financial inclusion." Navneet Munot, Chairman of AMFI, commented on this milestone, saying, "We are elated to announce the achievement of ₹50 lakh crore AUM, which is a testament to the trust that investors place in the Indian Mutual Fund Industry. On this momentous achievement, we would like to thank and congratulate the regulator, SEBI, all our distributors and investment advisers, all MF industry stakeholders, our member AMCs and above all, the mutual fund investors.
Read more on livemint.com
