Mutual Fund Industry Hits Rs 61.15 Lakh Crore in Assets Under Management

The mutual fund industry achieved a significant milestone in June 2024, with total assets under management (AUM) reaching Rs 61.15 lakh crore for the first time, surpassing the initial industry size 10 years ago. This growth is attributed to a six-month addition of Rs 10 lakh crore in assets, a remarkable increase that has propelled the industry forward. Despite a net outflow of Rs 43,636 crore during the month, the industry's momentum remains strong, with sectoral and thematic funds garnering over 50% of the total inflows.

Key Takeaways:

The mutual fund industry reached a record high of Rs 61.15 lakh crore in assets under management in June 2024, surpassing the initial industry size 10 years ago.
The industry added Rs 10 lakh crore in assets over the last six months, a significant increase that has propelled the industry forward.
Despite a net outflow of Rs 43,636 crore, the industry's momentum remains strong, with sectoral and thematic funds garnering over 50% of the total inflows.
Sectoral/thematic funds saw nine new NFOs in June, capturing over 50% of the total inflows into the category.
Midcap and sectoral funds have surpassed large-size mutual funds in net AUM for the second consecutive month, attributed to the notable decline in market share and poor inflows into large-cap space.
Investors have maintained a risk-on approach, with hybrids taking a breather and pure equity diversified funds, especially flexicap and multicap funds, seeing higher interest.
SIP AUM touched a high of Rs 12.43 lakh crore in June 2024, up from Rs 11.52 lakh crore in May 2024, with a record 8.98 crores SIP accounts.

Statistics:

Mutual fund industry assets under management: Rs 61.15 lakh crore (June 2024)
Six-month addition in assets: Rs 10 lakh crore
Net outflow in June: Rs 43,636 crore
Sectoral/thematic funds inflows: Over 50% of total inflows
Number of SIP accounts: 8.98 crores (June 2024)
SIP AUM (June 2024): Rs 12.43 lakh crore
Number of SIP accounts (June 2024): 8.98 crores

Sources:

Anand Vardarajan, Chief Business Officer, Tata Asset Management
Venkat Chalasani, Chief Executive, AMFI (Association of Mutual Funds in India)
Viraj Gandhi, CEO, Samco MF (Samco Mutual Fund)