look news india
Ahmedabad: Investments in equity mutual funds increased fivefold to Rs. 94,151 crore in the quarter ended June 2024. This figure was Rs 2.5 lakh in the same quarter a year ago. 18,358 crore. The attractiveness of equity mutual funds has increased amid strong economic environment, liberal government fiscal policies, investor confidence and boom in stock markets.
According to data from the Association of Mutual Funds in India, from Rs. 17.43 lakh crore in June a year ago, the industry's assets under management (AUM) grew 59 per cent to Rs. 27.68 lakh crore. With a strong growth in the asset base, the number of investors in equity mutual funds has also increased. During this period, the number of investors increased by three crore and the number of folios increased to 13.3 crore.
The increase in the number of equity portfolios shows that the participation of various investor segments is increasing. This is due to financial awareness and easy access to investment platforms. According to AMFI data, equity-based mutual fund schemes were worth Rs. 94,151 crore in the quarter ended June 2024. In April, these schemes saw investments of Rs. 18,917 crore, in May Rs. 34,697 crore and in June Rs. 40,537 crore.
Investment in equity mutual funds increased five times to Rs. 94,151 crore in the June quarter. In the quarter ended June 2023, it was Rs. 18,358 crore. Investment in the June quarter was 32 percent higher than the previous quarter of March 2024. In the March quarter, this figure was Rs 71,280 crore.
The government's favorable fiscal policies such as strong macroeconomic fundamentals, tax collection above fiscal target, low income cost and high cost of capital are increasing the attraction towards equity mutual funds. Apart from this, the boom in the stock market had a direct impact on mutual funds. Investors are investing in various schemes of mutual funds.