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Gross monthly inflows into mutual fund schemes through the systematic investment plan (SIP) route, which grew nearly 16 per cent to Rs 14,276 crore in March this year, is likely to touch Rs 17,000-18,000 crore a month by the end of this fiscal. The total inflows were close to Rs 12,328 crore in March 2022.
According to NS Venkatesh, Chief Executive, Association of Mutual Funds in India (AMFI), the number of unique folios is likely to increase by around 20 per cent to touch 4.5-4.8 crore by the end of 2023-24, from 3.96-4 crore folios at present. The gross monthly inflows are likely to increase by 25-28 per cent to touch Rs 17,000-18,000 crore a month by the end of this fiscal.
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AMFI, along with other stakeholders, is working towards creating awareness about the various scheme and products available through seminars and workshops, particularly in Tier II, III, IV and V towns.
“The gross inflows were Rs 12,000-12,500 crore a month last year. It has increased to close to Rs 14,200 crore this year. We expect this to increase to Rs 17,000-18,000 crore a month by the end of the current financial year,” Venkatesh said at a media round table here on Wednesday.
The average assets under management (AAUM) of Indian mutual fund industry in March 2023 was Rs 40,04,638 crore. The AUM as on March 31, 2023, stood at Rs 39,42,031 crore, AMFI data said.
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Tier II, III towns currently account for around 30 per cent of the AUM and this is expected to grow on the back of rising consumer awareness, he said. The eastern region accounts for 14-15 per cent of the AUM.
“The share of Tier II, III and IV towns is growing. It used to be 15-16 per cent of the total industry about five years ago and now it accounts for around 30 per cent,” he said.
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