The Indian mutual fund industry saw massive inflow of funds, along with the launch of as many as 14 schemes and a rise in the number of folios to an all-time high of 161 million-plus in November 2023.
The number of systematic investment plans (SIPs) also reached their highest-ever figure of 74.41 million in November 2023.
All this and more formed the highlight of the Indian mutual fund industry for the month of November 2023.
According to the monthly data for November 2023 from the Association of Mutual Funds in India (Amfi), the number of mutual fund folios reached an all-time high of 161.81 million (161,814,583 to be precise) in November 2023, up from 159.64 million (159,646,790) in the previous month.
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Elsewhere, the number of retail mutual fund folios comprising equity, hybrid, and solution-oriented schemes also reached an all-time high of 129.22 million (129,221,994) in November 2023 as against 127.48 million (127,488,003) in October 2023.
Retail assets under management (AUM) for equity, hybrid and solution-oriented schemes stood at Rs 27,01,321 crore for November 2023, with an Average AUM of Rs 26,36,163 crore, Amfi said in a press release.
New Schemes Launched
A total of 14 schemes were launched in November 2023, in the category of both open-ended and closed-end schemes. These 14 schemes raised a total of Rs 2,583 crore, Amfi said.
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With the addition of these schemes, the net AUM for the mutual fund industry for November 2023 was Rs 49,04,992.39 crore, while the average AUM (AAUM) was Rs 48,74,812.59 crore, Amfi further said. The corresponding figures of October were Rs 46,71,687.90 crore and Rs 47,80,422.43 crore.
New SIPs And Inflow
November also saw an addition of 3.08 million (30,80,185) new SIP accounts. This brought the total number of SIP accounts to their highest-ever figure of 74.41 million (7,44,13,903) in November 2023 as against 73 million (7,30,02,604) in October 2023.
The SIP contribution also stood at an all-time high of Rs 17,073.30 crores in November 2023, Amfi said. The SIP AUM was Rs 9,31,333.09 crore in November compared to Rs 8,59,923.86 in the previous month, it added.
NS Venkatesh, CEO, Amfi said: “As we approach the end of another remarkable year, it’s time to celebrate the positive growth and success of the mutual fund Industry. The AUM has been increasing steadily, reflecting the growing trust and confidence of investors. The overall AUM stands at Rs 49,04,992.39 crore in November 2023. We believe this trend will continue through December as well and the numbers will continue to remain positive. The SIP contribution stood at Rs 17,073.30 crore with a total of 74,413,903 SIP accounts, the highest till date. We reiterate that investors should stay focused on goal-based investing through SIPs.”
