The mutual fund industry has seen significant growth in assets under management (AUM) — from Rs 5.89 lakh crore in May 2008 to Rs 53.4 lakh crore in March 2024, a report showed on Saturday.
The steady increase in the share of mutual funds in Indian household savings, from 7.6 per cent in FY21 to 8.4 per cent in FY 23, is a testament to the industry’s growing relevance and the faith that investors have reposed in it, according to the report by the Association of Mutual Funds in India (AMFI), along with Crisil.
The mutual fund industry has played a pivotal role in empowering Indian households and investors to be a part of the country’s growth story, providing a platform for wealth creation and financial inclusion. Despite ongoing volatility in the stock market, assets under management (AUM) for all open-ended schemes grew marginally by 0.49 per cent to reach Rs 66.98 lakh crore in January.
According to the AMFI report, mutual funds have made it possible for investors to benefit from a diversified portfolio managed by experienced professionals, even with a modest investment.
“The industry has seen a significant increase in digital transactions, with approximately 90 per cent of all mutual fund purchases being made through digital channels in FY 2024,” the report mentioned. The regulator, SEBI, has played a crucial role in maintaining the integrity and stability of the mutual fund landscape.
Stay informed on all the , real-time updates, and follow all the important headlines in and on Zee News.
