mutual-fund

31% of MFs’ AUM is from ₹1 crore earners

31% of MFs’ AUM is from ₹1 crore earners

India has 18.6 million mutual fund investors, but nearly a third of the industry’s assets under management (AUM) comes from people with annual income above `1 crore, the government said in response to a question in Parliament. Investors with income below `5 lakh account for 29% of the mutual fund industry’s assets, although they make up 70% of the investor base, the government said on Monday. However, the government figures are substantially lower than figures released by the Association of Mutual Funds in India (Amfi), which claims the number of such investors in India has doubled to 23.9 million as of 30 June from 11.9 million at the end of March 2017. However, Amfi numbers may include corporates as well. The direct investor base for stocks has also grown rapidly since the pandemic as markets rose fuelled by easy monetary policy. According to data released by the BSE, the number of stock investors rose by 10 million from 6 June to 21 September, the fastest pace of addition in its history. However, since investors can open multiple trading accounts with different brokers, the number of stock investors is likely lower. Download.

mutual-fund 2021-11-29 Livemint