The mutual fund (MF) industry's Assets Under Management (AUM) reached ₹50.78 lakh crore for the first time in December 2023, Association of Mutual Funds in India (AMFI) data showed. MF folios surged to an all-time high of 16.49 crore, showcasing an increase from the 16.18 crore recorded in November 2023.
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Specifically, retail MF folios, comprising equity, hybrid, and solution-oriented schemes, reached 13.19 crore in December 2023, displaying a surge from 12.92 crore in November 2023.
Retail AUM, encompassing equity, hybrid, and solution-oriented schemes, stood at ₹28.88 lakh crore in December 2023, with an average AUM of ₹28.36 lakh crore, the AMFI data showed.
The equity inflows continued for 34 consecutive months, reaching ₹16,997 crore in December 2023 as compared to ₹15,514.5 crore in the previous month.
Breaking down the inflows by fund categories, small-cap funds saw an inflow of ₹3,857 crore in December, marking an increase from November's ₹3,699 crore.
Large-cap funds experienced an outflow of ₹281 crore, while ₹307 crore inflow was recorded in November. In contrast, mid-cap funds recorded an inflow of ₹1,393 crore, showing a decrease from the previous month's inflow of ₹2,666 crore.
Meanwhile, ETF inflows stood at ₹200 crore, down from ₹833.62 crore recorded in November.
Liquid funds witnessed an outflow of ₹39,675 crore, a significant jump from the outflow of ₹644.7 crore in the previous month.
Similarly, credit risk funds saw an outflow of ₹368 crore, rising from ₹253.7 crore in November.
On the other hand, corporate bond funds observed an inflow of ₹188 crore, contrasting the outflow of ₹1,578.4 crore in the previous month.
The dividend yield category saw an uptick in inflows, surging to ₹279 crore in December 2023 from ₹173 crore in the previous month.
ELSS (Equity Linked Savings Scheme) recorded an outflow of ₹314 crore compared to the outflow of ₹104.4 crore in the preceding month.
Furthermore, within the debt scheme category, there was a substantial outflow of ₹75,560 crore, a significant rise from the outflow of ₹4,706.7 crore in the prior month.
The hybrid fund segment witnessed inflows of ₹15,009 crore compared to ₹13,538 crore in the previous month.
Further highlighting investor behaviour, Systematic Investment Plan (SIP) inflows totalled ₹17,610 crore in December 2023.
As per Akhil Chaturvedi, Chief Business Officer, Motilal Oswal Asset Management Company, the overall investor sentiment remained buoyant on back of persistence of markets strength.
AMFI's Chairman, Navneet Munot outlined the mutual fund industry's trajectory, aiming for a ₹100 lakh crore AUM and 10 crore investors in the near future.
Reflecting on the industry's rapid growth, AMFI's Chief Executive, Venkat Chalasani, highlighted the significant leap from ₹40 lakh crore to ₹50 lakh crore AUM within just over a year.
Chalasani credited the concerted efforts of the entire mutual fund ecosystem, including AMCs, regulators, and distributors, in expanding investor reach and penetration across the nation.
(Edited by : Amrita)
First Published: Jan 8, 2024 12:29 PM IST
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