Jan 8, 2024, 06:42 PM IST
Domestic mutual funds’ assets under management (AUM) have surpassed the Rs 50 lakh crore mark, and industry body AMFI believes they are geared up to reach Rs 100 lakh crore by the turn of the decade.
According to MF industry body AMFI, achieving this goal will require an increase in the investor base from 4.21 crore to 10 crore, and three distinct categories of market expansion: distribution outreach, inclusion of middle-income households through simplification and digitalisation, and higher wallet share of household savings.
Off to a strong start in 2014! The domestic MF industry’s AUM crossed Rs 10 lakh crore for the first time at the end of May 2014.
The AUM reached Rs 20 lakh crore for the first time in August 2017.
The AUM crossed Rs 30 lakh crore for the first time in November 2020.
The domestic mutual fund industry crossed Rs 40 lakh crore level for the first time in November 2022. The AUM—which took 24 months to grow to Rs 40 lakh crore from Rs 30 lakh crore—added the next Rs 10 lakh crore (to Rs 50 lakh crore) in half the time.
In other words, the mutual fund industry has witnessed growth of Rs 40 lakh crore in AUM over just nine years.
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