Mutual fund industry’s assets under management (AUM) crossed Rs 50 lakh crore for the first time ever in December 2023, reflecting the growing popularity of mutual funds, especially equity-oriented schemes, as an investment avenue among investors.
The industry’s net AUM rose to Rs 50.77 lakh crore in December 2023 from Rs 49.05 lakh crore in November 2023, the data from the Association of Mutual Funds in India (AMFI) showed. In 2023, the mutual fund industry’s AUM rose by around Rs 11 lakh crore. The amount collected through systematic investment plan (SIP) route reached an all-time high of Rs 17,610.16 crore in December 2023. Number of new SIPs registered in December 2023 were 40,32,643 and the number of SIP matured or discontinued were 20,80,622.
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