THE INDIAN MUTUAL FUND industry definitely ended 2023 on a high. The industry’s total assets under management (AUM) breached the ₹50-lakh crore mark for the first time.
This was no doubt a big milestone, but what cheered the industry even more was the time it had taken to reach this milestone. The industry’s AUM first crossed the ₹10-lakh crore mark way back in May 2014. It doubled three years later, in August 2017. Three years later, in November 2020, it touched ₹30 lakh crore. And then the gears shifted, and the next ₹10 lakh crore was added in just two years, followed by the last ₹10 lakh crore in a mere 13 months. Put another way, the mutual fund AUM swelled by ₹40 lakh crore in a little under nine years.
Thanks to this spurt in growth, a large section of industry participants believe that the pace of growth will accelerate further and the industry’s AUM could more than double in four to five years.
What’s the reason for this optimism, one may wonder. It’s simple: The recent feats of the industry have been achieved with just a little over 40 million investors—a big jump from around 19 million in December 2018. Now, compare that with India’s population of 1.4 billion, and you can see why industry officials are bullish on the growth potential here.
It is this large opportunity that has attracted a slew of new players into this space, sparking a paradigm shift hitherto not seen until a couple of years ago. They include a number of new-age technology majors like discount broker Zerodha, PhonePe, Navi, Groww, and Samco. Besides, many older firms from the BFSI space are also making an entry here.
Esta historia es de la edición March 03, 2024 de Business Today India.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición March 03, 2024 de Business Today India.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
The EV Craze
The country’s growing luxury car market is seeing a shift with environmentally-conscious consumers betting on electric vehicles as a sustainable travel option. Though just 6%, the share of EVs in the luxury segment is rising rapidly
The Storage Boom
Data centres are being built at a frenetic pace in india as companies scramble to meet the ballooning demand from mobile phone users and firms adopting al. Can the country’s energy infrastructure keep up?
India Beckons
Owing to rising incomes in India and overall wealth expansion, luxury brands are wooing the country like never before
The Pearls of The Sea
Caviar, that rare food, is considered the epitome of fine dining. Here is everything that you need to know about it
66.Brand persona should define the core"
I’d say this was a strategic pivot. We had an iconic brand, but had, over time, evolved into diversified lines of businesses that could no longer be represented within the confines of our ‘name’.
Unwind in Style
Here is acomprehensive list of top tech picks that help you unwind by blending perfection in performance with luxury
A Lifelong Affair with Inspiration
In my art journey, the diversity of my acquisitions mirrored the expanding horizons of my understanding of art
Make it Bubbly
Champagne is much more than just a symbol of celebration and success. Know about its nuances beyond the bubbles
Palatial Splendour
Buoyed by renewed demand, sales of the glitzy mansions of the ultra-rich are surging like never before. Real estate majors are looking to capitalise on this by launching luxury offerings in record numbers
Of Beaches and Cream
GianChand Single Malt Whisky