The last financial year (2023-24) proved to be great for the mutual fund industry amid the boom in the stock market and the changing trends of investors. Data shows that during the last financial year, the assets under management by the mutual fund industry registered a growth of 35 percent, which is the highest in the last several years.
The year was the best after 2021
Data from the Association of Mutual Funds in India (AMFI) shows that the mutual fund industry’s AUM grew by 35 percent in the financial year 2023-24, which ended on March 31, 2024. This is the biggest increase in managed assets during any financial year after the financial year 2020-21. In the financial year 2020-21, the mutual fund industry registered a growth of 41 percent in AUM.
These 3 categories contributed the most
According to the data, individual investors were the most important contributors to the spectacular growth of the industry during the last financial year. These investors contributed the most to equity, hybrid and solution-oriented schemes. As per data till March 2020, these three categories contributed about 58 per cent to the total AUM of the mutual fund industry, while their share in the total folio stood at 80 per cent.
