The assets under management (AUM) of the Indian mutual fund industry has grown to about Rs 59 lakh crore at the end of June 2024, a 9% jump from Rs 54 lakh crore in March this year. With this size, the Indian mutual fund industry is nearly double the size of neighbouring country Pakistan. The debt-ridden South Asian country’s GDP currently stands at Rs 31.4 lakh crore.
According to AMFI data, the AAUM of the Indian mutual fund industry as on May 31, 2024 stood at Rs 58.6 lakh crore and the AUM stood at Rs 58.91 lakh crore.
Assets under management of mutual fund industry
Source: Cafemutual
Indian mutual fund Industry journey in 10 years
The mutual fund industry has grown from Rs 10 lakh crore as on May 31, 2014 to Rs 58.91 lakh crore as on May 31, 2024 – around 6-fold increase in a span of 10 years.
The MF industry’s AUM was Rs 25.94 lakh crore as on May 31, 2019. Since then the AUM size has risen by 2 times in a span of 5 years.
Form May 2014, when the industry’s AUM had crossed the milestone of Rs 10 lakh crore for the first time in May 2014, it took about three years to reach Rs 20 lakh crore in August 2017. The AUM size crossed Rs 30 lakh crore for the first time in November 2020.
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Mutual fund industry crossed 10 crore folios milestone in May
In terms of number of folios, the mutual fund industry has crossed a milestone of 10 crore folios during the month of May 2021. The total number of accounts (or folios as per mutual fund parlance) as on May 31, 2024 stood at 18.60 crore, while the number of folios under Equity, Hybrid and Solution Oriented Schemes, wherein the maximum investment is from retail segment stood at about 14.90 crore.
SBI MF, ICICI Prudential MF, HDFC MF, Nippon India and Kotak Mutual Fund command the highest quarterly AAUM among all fund houses. These fund houses also logged the highest growth in AUM in absolute terms.
The country’s biggest fund house, SBI MF, manages the highest quarterly AAUM at Rs 9.88 lakh crore. The quarterly AUM of the fund house stood at Rs 9.14 lakh crore in March 2024. SBI MF was followed by ICICI Prudential MF, which saw its AUM rise from Rs 6.83 lakh crore to Rs 7.47 lakh crore from March 2024 to June 2024. At third position was HDFC MF with quarterly AUM at Rs 6.71 lakh crore in June 2024.
Nippon India MF and Kotak MF are the other two big mutual fund houses that feature in top five in terms of AUM. These fund houses’ quarterly AAUM stood at Rs 4.84 lakh crore and Rs 4.19 lakh crore, respectively.