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AMFI data shows that the MF industry has reached a new AUM milestone of Rs.66.70 lakh crore in August 2024.
In addition, the monthly gross SIP inflows through SIP reached Rs.23,547 crore.
Another interesting fact was that the total folio count of the MF industry grew to an all-time high of 20.45 crore. In July, the MF industry had 19.84 crore folios.
Here are some key data points of August 2024.
Equity funds
- The mutual fund industry saw net inflows in equity funds for 42 consecutive months
- Equity inflows has increased to Rs.38,200 crore in August 2024 up from Rs.37,100 crore in July 2024
- Sectoral/thematic funds once again led the inflows, receiving Rs.18,100 crore in August 2024, mainly driven by NFOs
- Flexi-cap funds saw the second-highest inflows of Rs.3500 crore, followed by large and mid-cap funds (Rs.3300 crore), small-cap funds (Rs.3200 crore) and mid-cap funds (Rs.3000 crore)
- Large-cap funds saw their highest inflows in four months with net inflows of Rs.2600 crore in August 2024
- Focused funds and ELSS funds were the only equity fund categories that recorded net outflows last month
Debt funds
- Inflows decreased significantly from Rs.1.20 lakh crore in July 2024 to Rs.45,000 crore in August 2024
- Overnight funds, liquid funds and money market funds saw the highest inflows, with Rs.15,100 crore, Rs.13,600 crore and Rs.10,000 crore, respectively
- Other debt categories like ultra-short duration, short duration, medium duration, medium to long duration, long duration, dynamic bond, corporate bond, gilt and gilt with 10-year duration funds also recorded net inflows last month
- Of the 16 debt fund categories, 4 saw net outflows: low duration funds, credit risk funds, banking and PSU funds and floater funds
Hybrid funds
- Net inflows in hybrid funds declined from Rs.17,400 crore in July 2024 to Rs.10,000 crore in August 2024
- Balanced advantage funds received the highest inflows of Rs.3200 crore
- Multi-asset allocation funds saw inflows of Rs.2800 crore, followed by arbitrage funds with net inflows of Rs.2400 crore
- Equity savings funds and aggressive hybrid funds recorded net inflows of Rs.1500 crore and Rs.321 crore, respectively
- Only conservative hybrid funds in this category saw outflows of Rs.186 crore in August 2024
Passive funds
- Passive funds saw net inflows of Rs.14600 crore
- While net inflows in index funds reduced from Rs.8000 crore in July 2024 to Rs.3200 crore in August 2024, inflows in ETFs increased from Rs.5700 crore in July 2024 to Rs.10000 crore in August 2024
- Gold ETFs saw higher net inflows, rising from Rs.1337 crore in July 2024 to Rs.1600 crore in August 2024
- Funds of Funds (FoFs) saw outflows of Rs.350 crore in August 2024
Other key highlights
- The gross SIP inflows in the mutual fund industry reached Rs.23,547 crore
- In August 2024, 64 lakh new SIPs were registered
- SIP AUM hit an all-time high of Rs.13.38 lakh crore in August 2024, compared to Rs.13.09 lakh crore in July 2024
- The number of SIP accounts also reached a record 9.61 crore in August 2024, up from 9.34 crore in July 2024
- Retail MF folios (equity, hybrid and solution-oriented schemes) hit an all-time high of 16.35 crore in August 2024
- Retail AUM climbed to Rs.39.30 lakh crore in August 2024
- A total of 18 open-ended schemes were launched in August 2024, raising nearly Rs.14,000 crore
Akhil Chaturvedi, Executive Director & Chief Business Officer, Motilal Oswal AMC
We are interestingly seeing investors balancing their asset allocation in favour of large cap, multicap and flexi cap funds. Thematic funds through NFOs are also garnering high inflows and new themes trying to benefit from government reforms also offer an opportunity to participate through tactical allocation.
Deepak Ramaraju, Senior Fund Manager, Shriram Asset Management Company
The mutual fund industry continues its upward trajectory. For the first time, the number of MF folios reached 20.45 crore, showcasing growing investor confidence in the mutual fund industry. SIP figures are still awaited but expectations are high for record numbers, driven by the strong equity inflows. Overall, MF investors, who are becoming increasingly mature, continue to express confidence in the Indian economy and capital markets.
Hitesh Thakkar, Acting CEO, ITI Mutual Fund
India’s economic growth forecast as per Moody’s latest report is 7.2%. It is interesting to know that the Indian mutual fund industry took 50 years to build Rs.10 trillion of AUM (1963- 2013). It took another 6 years to reach the Rs.23 trillion AUM mark in 2019. In August 2024, we tripled the AUM and are now at Rs.66.70 trillion AUM. Mutual fund investment is one of the suitable investment options available to investors, which is cost-effective, transparent & provides an opportunity for retail investors to participate in growing India.
Madhu Nair, Chief Executive Officer at Union Mutual Fund
Pure active equity schemes have crossed Rs.30 lakh crore AUM during the month of August 2024. Equity flows for the month of August 2024 has been a mix of SIP flows, NFOs and existing schemes. Thematic funds still top the charts, while other categories like large cap fund, multi cap fund, large & midcap fund and midcap fund have also seen good net flows.
Venkat Chalasani, Chief Executive, AMFI
The industry assets rose to a new high, with an asset base of Rs.66.70 lakh crore at the end of August 2024. The positive inflow, along with folio count surpassing 20 crores, reflects investor confidence and a growing appreciation for mutual funds as a preferred investment avenue. The steadily increasing SIP contribution of Rs.23,547 crore in August 2024 highlights the shifting investor sentiment towards disciplined and long-term wealth accumulation.
