Team Blitz India
NEW DELHI: The mutual fund industry saw a substantial rebound in 2023 with its asset base surging by nearly Rs 11 trillion, reaching over Rs 50 trillion-mark. This was fuelled by an optimistic equity market, steady interest rates, and a robust economic expansion.
The year 2023 has seen a substantial increase in overall inflow, data from the Association of Mutual Fund Industry (Amfi) showed on January 8.
The inflow has pushed the assets under management (AUM) of the mutual fund industry by 27 per cent, adding Rs 10.9 trillion in 2023.
This was way higher than the 5.7 per cent growth and Rs 2.65 trillion increase in AUM observed throughout 2022, as well as the nearly 22 per cent growth and close to Rs 7 trillion addition to the asset base in 2021.
The asset base rose from Rs 39.88 trillion in 2022 to an all-time high of Rs 50.78 trillion in 2023, the data showed.
The asset base stood at Rs 37.72 trillion at the end of December 2021 and Rs 31 trillion in December 2020.
