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.
Gautam Adani, along with his wife and Karan, participated in the Rath Yatra in Puri,…
PM Narendra Modi interacted with Group Captain Shubhanshu Shukla, the first Indian to reach the…
Gautam Adani, along with his wife Priti Adani and son Karan Adani, joined thousands of…
PM Narendra Modi on Saturday paid tribute to former Prime Minister PV Narasimha Rao on…
Gautam Adani conveyed profound spiritual emotions after witnessing the revered Rath Yatra of Lord Jagannath…
In a step towards diversifying India’s horticultural exports, Punjab has successfully shipped its first consignment…