The mutual fund industry in 2024 saw robust asset growth, substantial inflows, and a rising trend of choosing Systematic Investment Plans (SIPs) for investment. Amid a thriving market and escalating investor trust, mutual funds continue to be a favored option for long-term wealth accumulation.
 
In 2024, the assets under management (AUM) of the mutual fund industry experienced significant growth. By November, the AUM had reached Rs 68.08 lakh crore, representing a 35.5% increase from Rs 50.24 lakh crore in 2023.

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Throughout 2024, open-ended mutual funds attracted approximately 5.13 crore folios, bringing the total folio count to 22.02 crore by November, compared to 16.89 crore in January. As per the monthly data released by the Association of Mutual Funds in India (AMFI), a total of 174 open-ended schemes were added in 2024, increasing the overall number of schemes to 1,552 in November from 1,378 schemes in January.

Equity funds

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Equity funds, including mid-cap, small-cap, and thematic funds, stood out as top performers in 2024. This success can be attributed to sectoral growth and increased retail investor interest, resulting in impressive returns. 

In 2024, equity mutual funds experienced the largest increase in folios, adding approximately 3.76 crore. The total folio count as of November 30 stood at 15.41 crore, up from 11.64 crore in January. A total of 54 new schemes were introduced throughout the year, bringing the total number of equity schemes to 481 as of November.

In 2024, sectoral and thematic funds saw a significant increase in folios, adding approximately 1.28 crore new folios to reach a total count of 2.89 crore in November, compared to 1.61 crore in January.

A total of 40 new sectoral and thematic schemes have been introduced in the current calendar year, contributing to this growth in the equity mutual fund categories. Following mid cap and small cap funds, which saw an increase of 56.40 lakh and 56.24 lakh folios, respectively, dividend yield funds added 3.20 lakh folios in 2024. Focused funds had the lowest number of folios added at around 54,217 in the same period.

SIPs’ growth

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As of November 2024, SIP contributions reached an impressive Rs 25,320 crore per month, reflecting a significant 44% increase from ₹17,610 crore recorded in December 2023.

Months    SIP Inflows(In Cr)    Change (%)
Nov-23    Rs 17,073    0.86%
Dec-23    Rs 17,610    3.15%
Jan-24    Rs 18,838    6.97%
Feb-24    Rs 19,187    1.85%
Mar-24    Rs 19,271    0.44%
Apr-24    Rs 20,371    5.71%
May-24    Rs 20,904    2.62%
Jun-24    Rs 21,260    1.70%
Jul-24    Rs 23,332    9.75%
Aug-24    Rs 23,547    0.92%
Sep-24    Rs 24,509    4.08%
Oct-24    Rs 25,323    3.32%
Nov-24    Rs 25,320    -0.01%

(Source: Anand Rathi Wealth)

In 2024, Hybrid Mutual Funds saw an increase of 19.42 lakh folios, bringing the total number of folios to 1.50 crore as of November 2024 from 1.31 crore in January. Additionally, 11 new schemes were introduced in this category.

Within the six hybrid categories, Multi Asset Allocation Funds experienced a growth of 9.46 lakh folios in 2024, totaling 27.68 lakh folios. Dynamic Asset Allocation/Balanced Advantage Funds saw an increase of 5.09 lakh folios, while Aggressive Hybrid Funds added 3.17 lakh folios during the same period.