Economic Survey Report on Mutual Fund: Financial year 2024 has proved to be a great year for mutual funds and investors in it. According to the Economic Survey report, the asset under management (AUM) increased by about Rs 14 lakh crore to Rs 53.4 lakh crore in this financial year. It has grown by about 35 percent on an annual basis. According to the report, investment through Systematic Investment Plan (SIP) has increased by about 2 times in the last 3 years. Finance Minister Nirmala Sitharaman has given this information in Parliament while releasing the Economic Survey Report today on 22 July.
SIP inflows more than double
According to the report, the annual net SIP inflow has doubled in the last 3 years. The SIP inflow was Rs 0.96 lakh crore in FY 2021, which has increased to Rs 2 lakh crore in FY 2024. The total SIP asset under management for equity-oriented schemes is about 35 per cent of the industry’s asset under management. This has increased mutual fund ownership in Indian equities to 9.2 per cent by December 31, 2023, from only 7.7 per cent as of December 31, 2021, the survey said.
SIP accounts increased to 8.4 crores
Apart from this, the survey also said that the mutual fund segment currently has about 8.4 crore Systematic Investment Plan (SIP) accounts, through which investors regularly invest in schemes. Whereas by the end of financial year 2022, the number of accounts was 5.2 crores. That is, there has been an increase of one and a half times in this too.
Growth in most schemes
The Economic Survey also said that inflows into growth or equity-oriented and hybrid schemes accounted for more than 90 per cent of net inflows into mutual funds. Among passive schemes, exchange-traded funds (ETFs) (other than gold exchange-traded funds) saw a growth of 37 per cent in net assets in FY24.
This growth has been driven by mark-to-market (MTM) gains and industry expansion. According to the Economic Survey, the growth in retail participation through the indirect channel via mutual funds was more significant and stable.
Sensex will strengthen by 25 percent in FY 2024
The Economic Survey said that capital markets are now playing a major role in the country’s growth story. Despite increasing geo-political risks, rising interest rates and volatility in commodity prices, the performance of the Indian capital market has been the best among other emerging markets in the last financial year. In the financial year 2023-24, the BSE’s 30-share index Sensex has strengthened by about 25 percent. The same trend continues in the current financial year and on July 3, the Sensex crossed the 80,000 mark for the first time during intraday trading.