Remarkable Growth of the Mutual Fund Sector in 2024: AUM Surges by Rs 17 Lakh Crore
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New Delhi, Dec 25 (NationPress) The Indian mutual fund sector experienced a remarkable growth in 2024, with the assets under management (AUM) across all mutual fund schemes soaring by more than Rs 17 lakh crore this year.
As per data from the Association of Mutual Funds in India (Amfi), the mutual fund sector's AUM reached Rs 68 lakh crore by the end of November 2024, marking an increase of Rs 17.22 lakh crore or 33 percent compared to the December 2023 figure of Rs 50.78 lakh crore.
Over the past four years, the mutual fund sector's AUM has surged by more than Rs 37 lakh crore.
The growth trajectory included an increase of Rs 11 lakh crore in 2023, Rs 2.65 lakh crore in 2022, and approximately Rs 7 lakh crore in 2021.
The AUM figures for the mutual fund sector were Rs 50.78 lakh crore in December 2023, Rs 40 lakh crore in December 2022, Rs 37.72 lakh crore in December 2021, and Rs 31 lakh crore in December 2020.
Additionally, the total number of folios at the end of November 2024 stood at 22.02 crore, compared to 16.89 crore in January, indicating an increase of 5.13 crore folios.
The numbers for December 2024 have not been included, as they are set to be released in the first week of January 2025.
According to AMFI data, around 174 open-ended schemes were introduced in 2024, bringing the total number of schemes to 1,552 by November, up from 1,378 in January.
This year, the largest influx of 3.76 crore new folios occurred in equity mutual fund schemes, followed by 1.17 crore folios in Fund of Funds that invest in index funds, gold ETFs, other ETFs, and foreign funds.
Furthermore, 19.42 lakh folios were added to hybrid mutual funds in 2024, while 1.87 lakh folios were added to solution-oriented mutual funds.
Conversely, during this period, the number of folios in debt mutual funds decreased by 3.11 lakh.
