India’s Mutual Fund Industry Hits New Milestone with Historic August 2024 Performance!

The mutual fund industry’s assets achieved a new high, with an asset base of Rs. 66.70 lakh crore at the end of August 2024. The folio count surpassed 20 crores, and the positive inflows reflect investor trust and confidence in mutual funds as a preferred route for wealth creation.

The overall AUM of the mutual fund industry increased by Rs. 1.74 lakh crore to Rs. 66.70 lakh crore in August. The consistently increasing SIP contribution of Rs. 23,547 crore in August 2024 also highlights the shifting investor sentiment towards a more disciplined and long-term-oriented approach to wealth accumulation.

Key highlights in the mutual fund industry for August include:

• AUM of Growth/Equity-Oriented Schemes crossed the Rs. 30 lakh crore mark.
• AUM of Income/Debt-Oriented Schemes reached Rs. 16 lakh crore.
• Hybrid fund assets increased to Rs. 8.61 lakh crore.
• ETFs led the passive funds’ assets growth and saw a massive inflow of Rs. 10,094 crore.
• Index funds received inflows of Rs. 3,247 crore.
• Gold ETFs witnessed an all-time high monthly inflow of Rs. 1,611 crore.

Equity mutual funds surged 3% month-on-month to Rs. 38,239 crore in August compared to July 2024. The inflows in various funds for August 2024 were as follows:

• Sectoral and Thematic funds: Rs. 18,117 crore
• Flexi-cap funds: Rs. 3,513 crore
• Large & Midcap funds: Rs. 3,293 crore
• Small Cap funds: Rs. 3,209 crore
• Midcap funds: Rs. 3,054 crore
• Large Cap funds: Rs. 2,636 crore
• Multicap funds: Rs. 2,475 crore
• Value/Contra funds: Rs. 1,728 crore
• Dividend Yield Funds: Rs. 499 crore

Assets under management (AUM) of the domestic mutual fund industry hit an all-time high, led by net inflows across open-ended categories and mark-to-market (MTM) gains in the equity market.

In August 2024, the total folio count was up 3.1% to reach around 20.45 crore, adding more than 61 lakh new folios. This is a new milestone for the mutual fund industry. The monthly systematic investment plan (SIP) contributions continued to soar, reaching an all-time high of Rs. 23,547 crore. More than 27 lakh net new SIP accounts were added in the month, taking the total number of SIP accounts to more than 9.61 crore.

The two categories of funds, i.e., ELSS funds and Focused funds, saw outflows of Rs. 205 crore and Rs. 83 crore, respectively, in August.

Source: Economic Times 

Source: AMFI

Date: 10th September

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Disclaimer: This blog has been written exclusively for educational purposes. Mutual Fund investments are subject to market risks, read all scheme related documents carefully.