Business

Mutual Funds Add 5.13 Crore Folios In 2024; Equity Funds Lead Growth

The open-ended mutual fund industry added 5.13 crore folios in 2024, bringing the total to 22.02 crore by November, up from 16.89 crore in January. The data, released by the Association of Mutual Funds in India (AMFI), also showed significant growth in the number of schemes.

A total of 174 open-ended schemes were launched this year, increasing the count to 1,552 in November from 1,378 in January. Equity mutual funds contributed the most to this growth.

Also Read: Indian Markets Poised For Positive Returns In 2024 Amid Robust Growth

Equity funds added 3.76 crore folios, taking the total to 15.41 crore by November, compared to 11.64 crore in January. The category also saw the addition of 54 new schemes, bringing the total equity schemes to 481.

Within the equity category, sectoral and thematic funds drove the highest growth. These funds added 1.28 crore folios in 2024, raising the total to 2.89 crore in November, up from 1.61 crore in January. Notably, 40 new sectoral and thematic schemes were launched this year.

The rapid growth in mutual fund folios and schemes reflects the increasing investor interest and the industry’s robust expansion in 2024.

Shibra Arshad

Recent Posts

PM Modi Meets Bhutan PM Tobgay At BIMSTEC Summit; Highlights Strong Bilateral Ties & Regional Cooperation

PM Narendra Modi met Bhutanese PM Tshering Tobgay on the sidelines of the 6th BIMSTEC…

4 hours ago

Jamia Students Back Waqf Amendment Bill; Call It A Step Toward Empowerment

The student group 'Shaher-E-Arzoo' expressed firm support for the Waqf Amendment Bill, calling it a…

7 hours ago

India’s Exports To The US Face Limited Impact From Tariff Hike: SBI Report

The 27% tariff hike by US President Donald Trump on Indian goods will have only…

7 hours ago

Waqf Freed From Mafia Control, New Era Of Development Begins For Muslims: MRM

Following the passage of the Waqf Amendment Bill 2024 in both Houses of Parliament, celebrations…

8 hours ago

India’s Forex Reserves Surge To $665.4 Billion; Rupee Strengthens As Trade Deficit Narrows

India’s forex reserves jumped $6.6 billion to a five-month high of $665.4 billion for the…

9 hours ago

Laxmi Singh Leads Gautam Buddha Nagar Police To Historic No 1 Rank In IGRS Across All Stations

Gautam Buddha Nagar Police, led by CP Laxmi Singh, achieved a historic feat with all…

10 hours ago