The total assets under management (AUM) of the Indian mutual funds industry has crossed the Rs 50 lakh crore mark for the first time ever with flows coming through systematic investment plans (SIPs) touching a new record high in December.
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According to the Association of Mutual Funds in India (AMFI), the total AUM of the industry was pegged at Rs 50.78 lakh crore as on December 31, 2023 – higher than the previous month’s AUM of Rs 49.05 lakh crore.
Incidentally, the total AUM of the industry registered a jump of over Rs 10 lakh crore in the last one year—total AUM was pegged at Rs 39.9 lakh crore in December 2022—with assets witnessing a growth of around six times in the last 10 years.
More importantly, SIPs continued to set new records with December witnessing Rs 17,610 crore flowing in through SIPs—it was pegged at Rs 17,073 crore in November. The month also saw a little over 4 million new SIP accounts being opened.
In terms of net inflows in equity schemes, the month saw a net inflow of Rs 16,997.09 crore with sectoral/thematic funds accounting for the biggest chunk at Rs 6,005.49 crore.
Other equity category of funds including Multi Cap, Mid Cap, Small Cap, and Flexi Cap also registered net inflows during the month. Meanwhile, categories like Large Cap, Focused Fund, and ELSS witnessed net outflows during the month.
Interestingly, Arbitrage Fund registered net inflows of over Rs 10,000 crore—Rs 10,645.16 crore to be precise—even as hybrid funds as a category saw net inflows of Rs 15,009.30 crore during the month of December 2023.
On the other hand, debt funds as a category saw net outflows totalling Rs 75,559.93 crore in the month of December – end of quarter months typically see outflows in the debt funds. Liquid Fund as a category saw the highest quantum of outflows at Rs 39,675.27 crore.
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Meanwhile, the last month of the previous calendar year also saw the total number of unique investors jump to 42.1 million—a significant jump in the last five years from 19.1 crore in December 2018.
