In October 2024, the total assets under management (AUM) increased to Rs 67,25,614.61 crore from Rs 67,09,259.24 crore in September 2024, indicating that the mutual fund industry was still expanding. The industry’s average AUM for October 2024 stood at Rs 68,50,321.44 crore, a slight increase from Rs 68,00,485.75 crore in September.
By the end of October, the number of mutual fund folios had hit an all-time high of 21,65,02,804 indicating increased investor engagement in mutual funds. Retail mutual fund folios (comprising equity, hybrid, and solution-oriented schemes) also hit a record of 17,23,52,296, up from 16,81,61,366 in September, AMFI monthly data showed.
Equity Mutual Fund Trends
Equity mutual fund inflows in October amounted to Rs 41,886.69 crore, marking the 44th consecutive month of positive equity inflows since March 2021. The increased capacity for systematic investing was further supported by the 63,69,919 new SIPs that were registered throughout the month.
SIP assets under management (SIP AUM) reached Rs 13,30,429.83 crore in October while monthly SIP contributions soared to an all-time high of Rs 25,322.74 crore, compared to Rs 24,508.73 crore in September 2024. Also, there were a record 10,12,34,212 SIP accounts, compared with 9,87,44,171 in September.
New Schemes and Industry Growth
The launch of 29 new open-ended schemes in October 2024, raised a total of Rs 6,078 crore. This reflects the mutual fund industry's continuous innovation and growth in India.
Venkat Chalasani, AMFI Chief Executive commented on the October data, “October 2024 has demonstrated the remarkable momentum in India's mutual fund industry. The 44th consecutive month of positive equity inflows since March 2021 underscores the deepening maturity of Indian investors. The industry’s growth is also clear from our all-time high AUM of Rs 67.26 lakh crore and the milestone of retail folios surpassing 17.23 crores.”
He also mentioned, “The continued surge in SIP accounts, now exceeding 10.12 crores, along with a record monthly SIP contribution of Rs 25,322.74 crores, demonstrates the growing preference for disciplined investing among Indian investors. These milestones reinforce our commitment to making mutual funds the cornerstone of wealth creation for every Indian investor, as we continue to build a more financially inclusive nation.”
