New Delhi, Dec 25 (IANS): The Indian mutual fund industry saw a meteoric rise in 2024, as the assets under management (AUM) of all MF schemes increased by more than Rs 17 lakh crore this year.

According to data from the Association of Mutual Funds in India (Amfi), the mutual fund industry's AUM was Rs 68 lakh crore at the end of November 2024, which is Rs 17.22 lakh crore or 33 per cent more than the December 2023 figure of Rs 50.78 lakh crore.

The mutual fund industry's AUM has increased by more than Rs 37 lakh crore in the last four years.

AUM increased by Rs 11 lakh crore in 2023, Rs 2.65 lakh crore in 2022, and about Rs 7 lakh crore in 2021.

The AUM of the mutual fund industry was Rs 50.78 lakh crore in December 2023, Rs 40 lakh crore in December 2022, Rs 37.72 lakh crore in December 2021 and Rs 31 lakh crore in December 2020.

Apart from this, the number of folios at the end of November 2024 was 22.02 crore, which was 16.89 crore in January. This shows an increase of 5.13 crore in the number of folios.

The figures for December 2024 have not been added to this, as they will be released in the first week of January 2025.

According to AMFI data, about 174 open-ended schemes were added in 2024. The total number of schemes was 1,552 in November. It was 1,378 in January.

This year, the highest number of 3.76 crore new folios were added to equity mutual fund schemes. Followed by 1.17 crore folios were added to the Fund of Funds investing in index funds, gold ETFs, other ETFs, and foreign funds.

Apart from this, 19.42 lakh folios were added to hybrid mutual funds in 2024. At the same time, 1.87 lakh folios were added to solution-oriented mutual funds.

Meanwhile, during this period, the number of folios in debt mutual funds declined by 3.11 lakh.