AMFI Data: Mutual Fund AUM Reaches Rs 68.08 Lakh Crore in November, Inflows Dips

In November 2024, the total Assets Under Management (AUM) of the mutual fund industry reached Rs 68.08 lakh crore, up from Rs 67.25 lakh crore in October 2024. The average AUM (AAUM) for November stood at Rs 68.04 lakh crore, slightly down from Rs 68.50 lakh crore in October. By the end of November, the number of mutual fund folios reached an all-time high of 22.08 crore, signaling growing investor engagement.

Equity Mutual Fund Trends

According to Amfi data, equity mutual fund inflows in November totaled Rs 35,943 crore, representing a 14 per cent decline compared to Rs 41,886 crore in October. However, the industry marked its 45th consecutive month of positive equity inflows. The growth of systematic investing was supported by 49.46 lakh new SIPs and Rs 25,319 crore in monthly SIP contributions.

Sectoral Funds and NFOs

Sectoral and thematic funds saw a decline in inflows, with 18 NFOs raising Rs 4,052 crore in November, down from 29 NFOs raising Rs 6,078 crore in October. This drop was due to a reduced number of new launches and market fluctuations.

Mid-Cap and Small-Cap Funds Performance

Mid and small-cap funds have showed relatively well. Their net inflows rose by 4.3 per cent for mid-cap and 9 per cent for small-cap funds, reflecting persistent investor interest despite the overall volatility in markets.

Debt Funds and Market Impact

Amfi data reveals, debt fund category saw a significant reduction in inflows, with a 92 per cent decline in net inflows, down to Rs 12,915 crore in November, compared to Rs 1.57 lakh crore in October. Transactions in liquid funds, perhaps brought on by stricter liquidity requirements and the requirement to pay taxes, were the main cause of this fall.

New Schemes and Industry Growth

A total of 18 new open-ended schemes were launched in November, raising Rs 4,052 crore demonstrating continued innovation and growth in the mutual fund industry.

Venkat Chalasani, Chief Executive of AMFI, said on the November 2024 data, "Despite market volatility, the mutual fund industry’s assets reached Rs 68.08 lakh crore, driven by robust inflows into growth equity schemes, with consistent SIP flows reflecting strong investor confidence."

Ashwini Kumar, Senior Vice President and Head of Market Data at ICRA Analytics, shared his insights on the November 2024 mutual fund inflows: “Despite the impact of global challenges like China’s economic stimulus and geopolitical tensions, equity mutual funds saw a 131.35 per cent year-on-year growth in inflows. This indicates strong retail investor interest, with sustained SIP contributions continuing to show resilience in the face of market volatility.”

Shriram AMC’s Senior Fund Manager, Deepak Ramaraju, noted that November’s equity inflows were affected by market corrections and political uncertainty, leading to a 14 per cent month-on-month decline. However, mid-cap and small-cap funds showed resilience, with growth in net inflows of 4.3 per cent and 9 per cent, respectively. While sectoral and thematic funds saw a dip, sustained SIP contributions continue to demonstrate investor conviction, highlighting the long-term confidence in India’s growth story.