Mutual fund industry’s AUM reaches a record ₹66.7 lakh crore in August 2024, with over 20 crore folios and record SIP inflows of Rs 23,547 crore. (DC File Image)
MUMBAI: Mutual fund industry assets under management hit a new high of Rs 66.70 lakh crore in August aided by inflows in equity and debt funds.
Among other highlights MF folios count crossed the 20 crore mark for the first time to over 20.45 crore.
A folio in mutual funds investment is a unique identification number for a mutual fund investor's account similar to a bank account number.
The systematic investment plan or SIP inflow also rose to a new high of Rs 23,547 crore in August, monthly data released by Association of Mutual Funds in India showed.
Equity oriented scheme's net flows stood at Rs 38,239 crore (Rs 37,113.39 crore in July 2024) with bulk of the flows( Rs18,117 crore) coming from thematic funds category while flexi-cap, large & mid-cap, large cap, mid-cap and small-cap fund categories received over Rs 3,000 crore inflows, each.
Debt funds category total net inflow was Rs 45,169 crore.
Hybrid schemes category also received Rs 10,005.30 crore with flows in balanced advantage fund( Rs 3215 crore), multi asset allocation fund(Rs 2826 crore) and arbitrage fund( Rs 2,372 crore).
Gold ETFs saw inflows of Rs 1611.38 crore higher than Rs 1337.35 crore in July 2024.Other ETFs saw higher inflows of Rs 10,093.57 crore compared to Rs 5787.28 crore in July 2024.
"The AMFI data indicates that domestic flows continue to be strong and despite the global uncertainty and volatility, this will continue to drive the markets. Despite stretched valuations, the demand continues to remain stronger, especially in the thematic, mid and small-caps funds. The share of net inflows to small-cap funds has doubled and flexi-cap funds saw an increase of 12 per cent, indicating stronger demand for equities as an asset class despite high valuations,” said Deepak Ramaraju, fund manager, Shriram Asset Management Company.
Venkat Chalasani, chief executive, AMFI said, “The positive inflow, along with folio count surpassing 20 crores, reflect investor confidence and a growing appreciation for mutual funds as a preferred investment avenue. The steadily increasing SIP contribution of Rs. 23,547 crores in August 2024 highlights the shifting investor sentiment towards disciplined and long-term wealth accumulation."( Source : Deccan Chronicle )
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