Monday, April 22, 2024

Mutual funds AUM grows at 38 pc year on year in February


Share post:


Shillong, March 10: The overall assets under management (AUM) of the mutual fund industry in February continued to remain above the Rs 50 lakh crore threshold at Rs 54.5 lakh crore, growing at 38.2 per cent year-on-year and 3.4 per cent sequentially, due to continued inflows as capital markets test new highs, said Sanjay Agarwal, Senior Director, CareEdge Ratings.

Inflows in equity funds remain high even as investments into mid and smallcap schemes remain strong yet moderate sequentially, he said.

The SIP contribution to the mutual funds industry continues to remain robust as retail investors continue to retain faith in the markets. Meanwhile, the debt schemes recorded an inflow of Rs 0.64 lakh crore during February compared to inflows of Rs 0.76 lakh crore in January. The largest inflows have been in the liquid fund category, he said.

The Credit Risk category continued to witness 11th straight month of outflows, Agarwal said.

Venkat Chalasani, Chief Executive, AMFI, said, “As we delve into the February 2024 data, we observe that there is a surge in SIP accounts, totalling 8.20 crore with 49.79 lakh new SIP registrations. This underscores investors’ unwavering commitment to disciplined wealth accumulation. The industry’s net AUM also reached Rs 54.5 lakh crore in February 2024.” (IANS)


Related articles

Siachen no ordinary land but India’s capital when it comes to valour, sacrifice and courage: Rajnath Singh

New Delhi, April 22:  Defence Minister Rajnath Singh said on Monday that Siachen, the world's highest battlefield, is...

Zomato increases mandatory platform fee to Rs 5

Shillong, April 22: Online food delivery platform Zomato has hiked its platform fee by 25 per cent to...

Surat’s electoral drama: Congress candidates disqualified, clear path for BJP

Shillong, April 22: The electoral battle in Surat took an unexpected turn, as the Congress party faced a...

Hyundai Motor signs 174-MW renewable energy deal for EV plant in US

Shillong, April 22: Hyundai Motor Group said on Monday it has signed a 174-megawatt power purchase agreement (PPA)...