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The asset under management of the mutual fund industry has registered a growth of 5 per cent in the year ended March to ₹39.42-lakh crore against ₹37.57-lakh crore logged in the same period last year. The growth was due to the 40 lakh new investors added in the last one year, taking the investor size to 3.77 crore against 3.37 crore registered in March 2022.
Inflows into equity schemes touched a one-year high of ₹20,534 crore last month against ₹15,686 crore in February, as investors took advantage of fall in market valuation to make more allocation.
Thematic and dividend yield funds registered the highest inflow of ₹3,929 crore and ₹3,716 crore, backed by SBI MF Dividend Yield NFO collecting ₹3,496 crore and HDFC MNC Fund (thematic) mopping up ₹339 crore.
Inflows through Systematic Investment Plan (SIP) hit a new high of ₹14,276 crore (₹13,686 crore) as the industry opened a record 21 lakh SIP accounts in March.
Investor confidence
NS Venkatesh, Chief Executive, AMFI, said the record-breaking inflows through SIPs reflect the retail investors’ confidence in the industry despite the Covid pandemic, sharp volatility in market, geo-political disturbances and inflation.
Hybrid funds saw an outflow of ₹12,372 crore largely due to outflow of ₹12,158 crore from arbitrage funds.
Debt funds witnessed an outflow of ₹56,884 crore, even while investors pumped in ₹31,000 crore in the last week of March to take advantage of the window available for long-term capital gain tax benefit.
G Pradeepkumar, CEO, Union AMC, said from a low of about ₹2,250 crore in November, the net inflows into equity funds have been steadily increasing every month, which augurs well for the future of the equity markets.
Manish Mehta, National Head – Sales, Kotak Mahindra AMC, said the change in taxation led to encouraging flows in the fixed income category in the last week of March, even as investors continued to believe in the long-term growth story by adding investments through SIPs and lumpsum.
Women power
In the last three years, the number of women investors in the mutual fund industry has increased by 27.50 lakh to 74.49 lakh as of December 2022 against 46.99 lakh recorded in December 2019, aided by sharp addition during the Covid years.
Women investors from the top-30 cities has increased by 13.72 lakh in the last three years to 41.67 lakh, while the same in beyond top-30 cities was up by 13.78 lakh to 32.82 lakh as of last December.
Women investors of 18-24 years have increased to 2.82 lakh last December from 66,417 in December 2019.
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