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AMFI data shows that the MF industry has reached a new AUM milestone of Rs.64.97 lakh crore in July 2024.
Another major milestone is that the total number of folio count in the MF industry has reached close to 19.84 crore.
Here are some key data points of July 2024.
Equity funds
- The industry has received net inflows in equity funds for the 41th consecutive months
- However, equity inflows decreased from Rs. 40,600 crore in June 2024 to Rs. 37,100 crores in July 2024
- Sectoral/thematic funds received the highest inflows of Rs. 18,300 crore in July 2024, largely due to NFOs
- Multi-cap funds received inflows of Rs. 7,000 crore, followed by flexi-cap funds with Rs. 3,000 crore, large and mid-cap funds with Rs. 2,600 crore and small cap funds with Rs. 2,100 crore
- Large cap funds saw net inflows of Rs.670 crore in July 2024, down from Rs.970 crore in June 2024
- Focused funds and ELSS funds were the only categories in equity funds that recorded outflows of Rs.620 crore and Rs.637 crore, respectively
Debt funds
- Debt funds saw net inflows of Rs.1.20 lakh crore in July 2024, primarily driven by inflows into liquid funds and money market funds
- Liquid funds received inflows of Rs. 70,000 crore, while money market funds received inflows of Rs. 29,000 crores in July 2024
- Other debt categories- overnight funds, ultra-short duration funds, low duration funds, short duration funds, medium to long duration funds, long duration funds, dynamic bond funds, corporate bond funds, gilt funds and floater funds also recorded net inflows in July 2024
- Out of the 16 debt fund categories, 3 funds saw that net outflows are medium duration funds, credit risk funds and 10-year Gsec funds
Hybrid funds
- Net inflows in hybrid funds rose from Rs. 8,850 crore in June 2024 to Rs. 17,400 crore in July 2024
- Arbitrage funds led the net inflows chart with Rs. 11,000 crore, followed by multi-asset allocation funds with Rs. 3,100 crore
- Conservative hybrid funds, aggressive hybrid funds, balanced advantage funds and equity savings funds also recorded net inflows in July 2024
Passive funds
- Passive funds also saw net inflows with Rs. 14,700 crore
- Inflows in index funds increased from Rs. 5,000 crore in June 2024 to Rs. 8,000 crore in July 2024
- Gold ETFs net inflows rose to Rs. 1,337 crore in July 2024, up from Rs.726 crore in June 2024
- Inflows in other ETFs decreased from Rs. 9,100 crore in June 2024 to Rs. 5,700 crore in July 2024
- Funds of Funds (FoFs) saw outflows last month
Other key highlights
- Gross SIP inflows of the MF industry reached Rs.23,300 crore
- The number of new SIPs registered in July stood at 72.62 lakh
- SIP AUM reached an all-time high of Rs.13.09 lakh crore in July 2024 compared to Rs.12.43 lakh crore in June 2024
- The number of SIP accounts also reached a record high of 9.34 crore in July 2024, up from 8.99 crore in June 2024
- Retail MF folios (Equity + hybrid + solution-oriented schemes) also hit an all-time high at 15.89 crore in July 2024
- Retail AUM reached Rs.38 lakh crore in July 2024
- A total of 15 open-ended schemes were launched in July 2024, which collected Rs. 16,500 crore
Akhil Chaturvedi, Executive Director & Chief Business Officer, Motilal Oswal Asset Management
The marginal decline in the overall equity MF inflow by 9% and increased flow in debt funds can be attributed to the market volatility and global concerns amongst few investors. Investors with a long-term view can continue to be positive on their investments with the India growth story in play.
Hitesh Thakkar, Acting CEO, ITI Mutual Fund
We feel retail investors are now understanding that volatility is part of long-term wealth creation journey. The share of financial assets has been increasing rapidly and within financial assets, mutual fund market share is relatively high. I am sure that mutual fund industry will surpass milestone trillion AUM and 100 million investors in next 3 to 4 years’ time.
Manish Mehta, National Head - Sales, Marketing & Digital Business, Kotak Mahindra AMC
Net equity flows were a tad lower compared to June. The inflow could be attributed to NFO listing and SIP inflows. Most of the lump sum purchase seem to be through the NFO route.
Swarup Mohanty, Vice Chairman & CEO, Mirae Asset Investment Managers (India)
The inflow data shows an underlying change in the mood of investors. They are shifting their focus from core side of the portfolio to the tactical or satellite side of the portfolio. This is evident from the fact that in the last two years, we saw small caps getting heavy inflows, which now is tapering as investors are now shifting to sectoral funds. It will be interesting to see if this is a shift in risk profile or it is just blatant near-term return chasing.
Venkat Chalasani, Chief Executive, AMFI
The mutual fund industry has demonstrated positive growth with retail investors consistently embracing mutual funds as a reliable investment avenue. It’s evident that mutual funds have become an integral part of retail investors' financial strategies. SIP contributions reaching an all-time high reflects the growing financial discipline among retail investors, helping them build wealth systematically over time. As we continue to navigate an ever-evolving market landscape, the industry's focus remains on empowering investors and fostering long-term financial well-being.
