look news india
People's investment enthusiasm in Mutual Funds (MF) is at its peak. In April 2024, the number of mutual fund investors has crossed the 4.5 crore mark. During this month the number of investors increased by six lakhs and this trend of increase is still continuing. In April 2023, the number of MF investors was 3.8 crore. According to data from the Association of Mutual Funds in India (AMFI), it had increased by 19 percent last year. The number of mutual fund investors has increased in FY 2023-24 as compared to FY 2022-23 due to improving trends in market performance and launch of funds in popular categories. After delivering almost zero returns in FY2023, Nifty and Sensex jumped 25 per cent in April 2024 as MF investors.
The increase in investor interest in the mutual fund segment is also visible in the Systematic Investment Plan (SIP) data. As such, the number of SIP accounts has increased by two crore in the financial year 20224. Which is almost double as compared to the year 2023. In the year 2023, the number of SIP accounts was 1.8 crore.
Of course, growth in FY2024 is still significantly lower than FY2021-22. Because, in the year 2021-22 the number of mutual fund investors increased by 1.1 crore. However, in April 2024 this increase is 6,00,000. 58 active equity schemes have been implemented by MFs in FY2024. In the year 2023, this figure was 32 schemes.