The mutual fund industry has added ₹10 lakh crore (trillion) assets in the last six months, reaching a milestone of total assets under management at ₹61.15 lakh crore in June even as there was a net outflow of ₹43,636 crore during the month.
In May 2014, the overall assets under management for the industry were around ₹10 lakh crore.
“June was a watershed month for the mutual fund industry with assets under management hitting ₹60 trillion for the very first time. The addition in six months is equal to what we were as an industry 10 years ago,”said Anand Vardarajan, chief business officer, Tata Asset Management.
“The outflow from the debt funds could be attributed to the investors withdrawing the funds to meet advance tax obligations which we normally see in the quarter end, particularly from liquid and overnight funds, said Venkat Chalasani, chief executive, Amfi.
"On the equity side, there were nine new NFOs in June on the sectoral/thematic funds garnering over 50 per cent of the total inflows into the category.”
“For the second month in a row, the net AUM of midcap and sectoral funds has surpassed that of large-size mutual funds due to the notable decline in market shareand poor inflows into large-cap space and gaining traction in thematic and mid-cap space,” said Viraj Gandhi, CEO, Samco MF.
“Given the market stance, investors haven’t shied away from being in risk-on mode, with hybrids taking a breather, while pure equity diversified funds, especially flexicap and multicap funds, are seeing higher interest,” said Vardarajan.
The SIP AUM touched a high of ₹12.43 lakh crore for June 2024 compared with ₹11.52 lakh crore for May 2024. The number of SIP accounts was 8.98 crore in June 2024.
