Mutual Fund AUM Rises 29% In 2024; Equity Funds Lead Growth

The assets under management (AUM) of open-ended mutual funds jumped nearly 29% in 2024, rising from ₹52.44 lakh crore in January to ₹67.81 lakh crore in November. Equity mutual funds drove this growth with a 35% increase in their AUM, reaching ₹30.35 lakh crore.

Equity Funds Shine

Sectoral and thematic funds saw the highest growth among equity categories, with their AUM surging 70% from ₹2.71 lakh crore in January to ₹4.61 lakh crore in November. Multi-cap funds followed, with a 51% increase, while large & mid-cap funds grew by 38%. Mid-cap and small-cap funds saw growth of 34% and 32%, respectively.

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Gold ETFs, Index Funds See Strong Growth

Other schemes, including index funds, ETFs, and gold ETFs, recorded a 28% rise in AUM, from ₹8.83 lakh crore in January to ₹11.29 lakh crore in November. Gold ETFs led with a 59% surge, followed by a 34% increase in index funds.

Hybrid Funds Expand

Hybrid mutual funds grew by 27%, reaching ₹8.77 lakh crore in November. Multi-asset allocation funds led the way with a 69% rise, followed by equity savings funds at 53%. Arbitrage funds grew by 37%, while balanced advantage funds saw a 19% increase.

Debt Funds Show Mixed Trends

Debt mutual funds posted a 22% increase in AUM. Long-duration funds led with a 76% rise, followed by money market funds at 64% and gilt funds at 56%. However, some categories like credit risk funds and floater funds saw declines of 11% and 7%, respectively.

Solution-Oriented Funds Gain Ground

Solution-oriented funds also grew by 22%. Retirement funds rose by 24%, while children’s funds grew by 20%.