The Indian mutual fund industry reached a significant milestone in June 2024 as net inflows into equity funds surpassed Rs 40,000 crore, pushing the industry’s total Assets Under Management (AUM) above Rs 60 trillion for the first time. This was primarily driven by positive investor sentiment following the national election results and a surge in new fund launches.

Investors showed optimism about policy continuity and expected reforms, leading to a market boost. The launch of 14 new fund offerings, 11 of which were in the equity-oriented asset class, also contributed to the surge in inflows. Additionally, systematic investment plans (SIPs) and strategic lump sum investments played a significant role in the record-breaking inflows.

Thematic funds, particularly sector/thematic funds, attracted substantial attention and witnessed the highest net inflows in June 2024. While large-cap-focused categories remained popular among investors, mid and small-cap segments continued attracting investments despite overvaluation concerns.

On the cautionary side, net outflows were from equity-linked saving schemes (ELSS) and focused funds for the third consecutive month. Despite a brief correction, key benchmark indices experienced significant gains in June.

The mutual fund industry added Rs 10 trillion to its AUM in the last six months, indicating continued growth and positive investment sentiment.

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