MF industry assets grow 35% in FY24
The mutual fund industry’s assets under management grew by 35% in FY24, recording the highest gain since fiscal FY21 when the industry grew by 41%, said the Association of Mutual Funds India (AMFI).
The number of folios closed at a record high of 17.78 crore, with the investor base standing at around 4.46 crore.
AMFI said individual investors dominated mutual fund categories such as equity, hybrid and solution-oriented schemes with the three categories together accounting for nearly 58% of the industry assets and 80% of the folio count as of March 2024. The share of assets under management of these categories has increased from 45% in March 2019.
Debt funds saw moderate growth of around 7% in FY24 to close with assets of 12.62 lakh crore, after contracting 2% and 9% in the previous two financial years, 2022 and 2023, respectively, showed data from the mutual fund industry body.
The category also gained in folios, albeit a small number of over 5,000 folios in fiscal FY24, after declines in the previous two fiscals, according to the industry body. In terms of asset growth, money market and liquid funds saw the highest absolute asset gain of 40,000 crore and 31,000 crore respectively, it said.
