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After crossing gross SIP inflows of Rs.20,000 crore, the MF industry achieved another milestone in terms of the total number of investors.
The latest industry data shows that the mutual fund industry crossed investor milestone of 4.50 crore. The total number of unique investors increased from 4.46 crore in March-2024 to 4.53 crore in April-2024.
Overall, the Rs.57 lakh crore MF industry added over 7 lakh new investors in just a month.
DP Singh, Deputy MD and Joint CEO, SBI Mutual Fund believes that the scope of growth in mutual funds is tremendous considering the fact that India has 20 crore people who can invest in mutual funds. He said, “While we crossed investor count of 4.50 crore, we will cross 5 crore landmark in the next 6 months. Continuous efforts of AMCs, AMFI and distributors will add more mutual fund investors in days to come.”
Mumbai MFD, Gajendra Kothari of Etica Wealth, Mumbai said that majority of MF schemes did well post covid, which attracted many investors to invest in mutual funds. In fact, mutual funds are no longer a push product, he said.
Kothari said that SEBI’s initiative to make mutual funds transparent increased trust of investors in mutual funds.
Ganesh Mohan, CEO, Bajaj Finserv Mutual Fund feels that the mutual funds will only become larger in the coming years. “One of the factors that has led to the increase in number of investors is AMFI’s ‘Mutual Funds Sahi Hai’ campaign. Many people are now familiar with mutual funds. Further, the increase in income level and better accessibility to financial markets have led to growth in number of new investors. In my view, the MF industry will have 12 crore investors by 2030.”
Sandeep Bagla, CEO Trust Mutual Fund attributed this to growing popularity of SIPs. “Many investors invest in mutual funds through SIPs to achieve their financial goals. Also, many people are now willing to take risk by investing in mutual funds. In addition, equity markets have been doing well, which has attracted many investors towards mutual funds.”
