one that There was a time when people People used to put their savings in their bank accounts. Now times have changed. Now people are emptying their bank accounts and investing in mutual funds. Perhaps, this is the result of which there has been a decline in bank deposits and record investment is being made in mutual funds. Investment in mutual funds is increasing every month. Let us tell you that investment in equity mutual funds has increased five times to Rs 94,151 crore in the quarter ended June 2024. This figure was Rs 18,358 crore in the same quarter a year ago.
Due to this, investment increased rapidly
Amid strong economic environment, favourable fiscal policies of the government, investor confidence and boom in stock markets, the attraction towards equity mutual funds has increased. According to data from the Association of Mutual Funds in India (Amfi), the assets under management (AUM) of the industry grew 59 per cent to Rs 27.68 lakh crore in June from Rs 17.43 lakh crore a year ago.
Investors increased by 3 crores
With strong growth in the asset base, the number of investors in equity mutual funds has also increased. During this period, the investor base has increased by three crores and the number of folios has increased to 13.3 crores. Trivesh D, Chief Operating Officer (COO) of stock trading platform TradeJini, said that the increase in the number of equity folios shows that participation is widening among various investor segments. This is due to financial awareness and easy access to investment platforms. According to AMFI data, equity-based mutual fund schemes received an investment of Rs 94,151 crore in the quarter ended June 2024. These schemes received an investment of Rs 18,917 crore in April, Rs 34,697 crore in May and Rs 40,537 crore in June.
Attraction towards equity mutual funds increased
Investment in equity mutual funds increased five times to Rs 94,151 crore in the June quarter. It was Rs 18,358 crore in the quarter ended June 2023. Investment in the June quarter has been 32 percent higher than the previous quarter of March 2024. This figure was Rs 71,280 crore in the March quarter. Anand Rathi Wealth Deputy CEO (Chief Executive Officer) Firoz Aziz said that due to strong macroeconomic fundamentals, favorable fiscal policies of the government like higher tax collection than budgetary target, lower revenue expenditure and more capital expenditure, the attraction towards equity mutual funds is increasing.
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