Mutual fund industry sees record growth in June 2024 with AUM reaching Rs 61,15,581.92 cr
The mutual fund industry's net Assets Under Management (AUM) reached Rs 61,15,581.92 crores in June 2024, showing a significant increase from Rs 58,91,160.48 crores in May 2024.
The Average Assets Under Management (AAUM) for June 2024 stood at Rs 61,33,226.77 crores, up from Rs 58,59,951.39 crores in May 2024.
In June 2024, the number of mutual fund folios hit an all-time high of 19,10,47,118, reflecting robust investor interest.
Retail mutual fund folios, encompassing equity, hybrid, and solution-oriented schemes, also reached a record high of 15,32,56,488 in June 2024, up from 14,89,54,824 in May 2024.
Retail AUM for equity, hybrid, and solution-oriented schemes was Rs 36,32,226 crores in June 2024, with an average AUM of Rs 35,69,980 crores.
June 2024 marked the 40th consecutive month of positive equity inflows, starting from March 2021. Growth equity fund inflows for June amounted to Rs 40,608.19 crores.
New SIP (Systematic Investment Plan) registrations in June 2024 stood at 55,12,962, highlighting continued investor confidence.
The SIP AUM reached an all-time high of Rs 12,43,791.71 crores in June 2024, compared to Rs 11,52,801 crores in May 2024.
SIP contributions also hit a record high of Rs 21,262.22 crores in June 2024, up from Rs 20,904.37 crores in May 2024.
The number of SIP accounts rose to a highest-ever 8,98,66,962 in June 2024, compared to 8,75,89,485 in May 2024.
In June 2024, a total of 17 new schemes were launched in the open-ended category, raising Rs 15,227 crores.
AMFI Chief Executive Venkat Chalasani said the mutual fund industry has demonstrated remarkable growth, becoming a cornerstone of financial stability and wealth creation for crores of investors.
“The industry continued to benefit from sustained flows into equity-oriented mutual funds, hybrid funds and passive funds. Equity fund inflows stood at a record high of Rs 40,608 crore, while SIP inflows touched a new high of Rs 21,262 crore,” said Chalasani.
This expansion reflects the industry’s unwavering commitment to investor education, strong distribution, and digital innovation. “As we continue to adapt and evolve in a dynamic market environment, we remain dedicated to fostering financial well-being for all our stakeholders,” he added.
Ashwini Kumar, Senior Vice President and Head Market Data, ICRA Analytics, said, “Domestic equity markets witnessed some initial volatility ahead of the outcome of the general elections. However, markets rebounded sharply on hopes of political stability and policy continuity. Gains were extended after India's GDP growth came better than expectations and stood at 7.8% in the fourth quarter of FY24. Market sentiments were further boosted after the Reserve Bank of India upgraded the GDP growth rate of the domestic economy to 7.2% from 7.0% for FY25 even though it kept the key policy repo rate unchanged.”
Debt mutual funds, however, witnessed a surge in outflows at Rs 1.07 lakh crore with 12 out of 16 schemes registering net outflows in June 2024.
“Bond yields also rose initially and witnessed volatility amid the outcome of general elections, however, the trend reversed, and bond yields fell following decline in U.S. Treasury yields that boosted expectations of rate cuts as well as supported by Indian bonds inclusion in JP Morgan Emerging Market index," Kumar said.
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