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Mutual Fund AUM tops Rs 50 trillion for first time; equity inflows hold steady at Rs 16,997 crore
Inflows via systematic investment plans (SIPs) rose to Rs 17,610 crore in December against Rs 17,073 crore in November. The assets under management of the Indian mutual fund industry rose above Rs 50 trillion (Rs 50 lakh crore) in December thanks to the continuous inflows and rally in Indian equity markets, according to data released by the Association of Mutual Funds of India (AMFI), the industry trade body for mutual funds. Data showed that total assets under management (AUM) under the open-ended schemes stood at Rs 50.80 trillion in December against Rs 48.78 trillion in November 2023. The rise in assets of the mutual fund industry has come on the back of rally in equity markets. BSE Sensex rose 7.53 percent in December, while NSE Nifty gained 7.93 percent during the month. Meanwhile, inflows via systematic investment plans (SIPs) also rose to Rs 17,610 crore in December against Rs 17,073 crore in the previous month, underscoring confidence of retail investors. Venkat Chalasani, Chief Executive of AMFI, said, " While the mutual fund (MF) industry took almost 50 years to build the first Rs 10 trillion of AUM, the last Rs 10 trillion, from Rs 40 trillion to Rs 50 trillion was amassed in just over a year. The entire mutual fund industry in India including the AMCs and the Regulator have put in focused efforts to reach investors across the country with support from the MF distributors." In December, net inflows into open-ended equity mutual funds gained 9 percent to Rs 16,997 crore against Rs 15,536 crore in November. During the month, smallcap funds saw net investments of Rs 3,858 crore, while midcap fund inflows slumped 48 percent in December. Largecap funds logged net outflows of Rs 281 crore. Source - Money Control
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Mohamed Azharuddin
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