Investment in equity mutual funds surged over five-fold to Rs 94,151 crore in the June 2024 quarter against Rs 18,358 crore a year ago, driven by a strong economic environment, supportive government fiscal policies, investors confidence and robust stock return.
This has also pushed the industry's assets under management (AUM) by 59 per cent to Rs 27.68 lakh crore in June from Rs 17.43 lakh crore a year ago, data from the Association of Mutual Funds in India (AMFI) showed.
The robust gain in the asset base was also replicated in the growth of investors in equity mutual funds, with the number of folios closing at 13.3 crore, adding an investor base of over 3 crore.
The significant gain in equity folios indicates broader participation across investor segments, driven by improved financial literacy and accessible investment platforms, Trivesh D, COO of stock trading platform Tradejini, told PTI.
According to the AMFI data, equity-oriented mutual fund schemes invested Rs 94,151 crore in
