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An analysis of AUM data of the MF industry shows that the AUM of MF industry went up by 25% from Rs. 41 lakh crore in Dec 2022 to Rs.51 lakh crore Dec 2023.
This growth largely came from equity funds and hybrid funds. The data shows that while AUM of equity funds grew by 38% from Rs.15 lakh crore in Dec 2022 to Rs. 21 lakh in Dec 2023 crore, hybrid funds witnessed 32% increase in AUM to reach Rs.6.60 lakh crore in December 2023.
On the other hand, debt funds recorded 7% increase in AUM over the last one year.
Equity funds
In absolute terms, small cap funds saw highest growth of 75% in its AUM across equity fund category over the last one year.
Mid cap funds and sectoral/ thematic funds were the next two categories with growth of over 45% in one year.
In percentage terms, dividend yield funds saw their AUM go up by 104%. Let us look at the table to know more.
|
S.no |
Equity Funds |
AUM Dec-22(cr) |
AUM Dec-23 (cr) |
AUM Change (cr) |
YOY growth |
|
1 |
Small Cap Fund |
1,30,409 |
2,27,616 |
97,207 |
75% |
|
2 |
Mid Cap Fund |
1,86,407 |
2,74,527 |
88,119 |
47% |
|
3 |
Sectoral/Thematic Funds |
1,70,862 |
2,49,007 |
78,145 |
46% |
|
4 |
Flexi Cap Fund |
2,49,085 |
3,19,827 |
70,742 |
28% |
|
5 |
Large & Mid Cap Fund |
1,28,966 |
1,82,152 |
53,186 |
41% |
|
6 |
Large Cap Fund |
2,46,297 |
2,89,339 |
43,042 |
17% |
|
7 |
Multi Cap Fund |
66,141 |
1,08,011 |
41,870 |
63% |
|
8 |
Value Fund/Contra Fund |
91,253 |
1,31,405 |
40,152 |
44% |
|
9 |
ELSS |
1,56,363 |
1,95,625 |
39,262 |
25% |
|
10 |
Focused Fund |
1,05,010 |
1,22,382 |
17,373 |
17% |
|
11 |
Dividend Yield Fund |
10,369 |
21,158 |
10,789 |
104% |
|
|
Total |
15,41,163 |
21,21,049 |
5,79,886 |
38% |
Hybrid funds
While arbitrage funds saw maximum growth in AUM, it is largely short term money. The next two categories, which saw highest traction in the last one year were dynamic asset allocation funds or balanced advantage funds and multi asset allocation funds.
Dynamic asset allocation funds/balanced advantage funds witnessed 17% whereas multi asset allocation saw its AUM increase by 121%, the highest in percentage terms.
Let us look at the AUM growth of hybrid funds:
|
S.no |
Hybrid funds |
AUM Dec-22(cr) |
AUM Dec-23(cr) |
AUM Change(cr) |
YOY growth |
|
1 |
Arbitrage Fund |
86,795 |
1,48,972 |
62,177 |
72% |
|
2 |
Dynamic Asset Allocation/Balanced Advantage Fund |
1,96,697 |
2,29,853 |
33,156 |
17% |
|
3 |
Multi Asset Allocation Fund |
24,201 |
53,531 |
29,330 |
121% |
|
4 |
Balanced Hybrid Fund/Aggressive Hybrid Fund |
1,60,240 |
1,85,593 |
25,353 |
16% |
|
5 |
Equity Savings Fund |
17,571 |
25,452 |
7,881 |
45% |
|
6 |
Conservative Hybrid Fund |
22,840 |
26,032 |
3,192 |
14% |
|
|
Total |
5,08,344 |
6,69,433 |
1,61,089 |
32% |
Debt funds
In the debt category, money market funds saw the highest growth of Rs.38,000 crore in absolute terms. Their AUM increased from Rs. 1.10 lakh crore in Dec 2022 to Rs. 1.48 lakh crore in Dec 2023 with 34% growth.
Further, corporate bond funds and gilt funds followed money market funds in terms of AUM growth.
In percentage terms, long duration funds showed the maximum growth. Here is the table:
|
S.no |
Debt Fund |
AUM Dec-22(cr) |
AUM Dec-23(cr) |
AUM Change(cr) |
YOY growth |
|
1 |
Money Market Fund |
1,10,491 |
1,48,297 |
37,807 |
34% |
|
2 |
Corporate Bond Fund |
1,16,096 |
1,39,252 |
23,156 |
20% |
|
3 |
Gilt Fund |
16,196 |
26,294 |
10,098 |
62% |
|
4 |
Low Duration Fund |
94,310 |
1,03,224 |
8,914 |
9% |
|
5 |
Dynamic Bond Fund |
22,947 |
30,789 |
7,842 |
34% |
|
6 |
Long Duration Fund |
3,275 |
10,070 |
6,795 |
207% |
|
7 |
Banking and PSU Fund |
74,773 |
79,811 |
5,038 |
7% |
|
8 |
Ultra Short Duration Fund |
86,704 |
91,433 |
4,729 |
5% |
|
9 |
Short Duration Fund |
94,937 |
99,049 |
4,112 |
4% |
|
10 |
Gilt Fund with 10 year constant duration |
1,594 |
4,406 |
2,812 |
176% |
|
11 |
Medium to Long Duration Fund |
8,848 |
10,303 |
1,455 |
16% |
|
12 |
Medium Duration Fund |
26,878 |
26,462 |
-416 |
-2% |
|
13 |
Floater Fund |
60,197 |
59,190 |
-1,007 |
-2% |
|
14 |
Credit Risk Fund |
25,461 |
23,677 |
-1,784 |
-7% |
|
15 |
Liquid Fund |
4,40,562 |
4,33,886 |
-6,676 |
-2% |
|
16 |
Overnight Fund |
1,13,957 |
1,06,097 |
-7,860 |
-7% |
|
|
Total |
12,97,227 |
13,92,240 |
95,014 |
7% |
