growth of mutual funds in india research paper

Investor’s Perception Towards Mutual Fund Investing on the Rise of Digitalization in Indian Mutual Fund Industry

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• K. Pushpa Raj   ORCID: orcid.org/0000-0001-6564-135X 19 &
• B. Shyamala Devi 19  

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Technological advancement has been playing an essential role in the development of any sector. Even mutual fund industries are more exposed to the advent in the field of financial technology. Advancement in the FinTech arena has been witnessed in every aspect of the mutual fund industry. Asset Management Companies (AMC’s) are started using robotics to increase their efficiency of fund management and ease their transaction processing or customer servicing. Investors can access the information online, track or redeem their investment any time of the day. Unified Payments Interface (UPI) and Electronic Clearing Services (ECS) are the online modes of payment facilities adopted by most fund houses. Association of Mutual Fund India (AMFI) has been consistently deploying considerable efforts to ensure that every investor has sufficient information to make informed decisions. Even the Know Your Customers (KYC) process has been completed online and more superficial than earlier days. In this paper, an effort has been made to understand the importance of Mutual Fund investments, the awareness among different investors about the mutual fund, the impact of Digitalization on mutual fund investment, and the information availability to every investor related to the mutual funds.

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Metre, S.G., Parashar, P.: Impact of digitization on mutual fund services in India. In: Proceedings of 10th International Conference on Digital Strategies for Organizational Success (2019). SSRN: https://ssrn.com/abstract=3309277 , http://dx.doi.org/10.2139/ssrn.3309277

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Indian Institute of Management Nagpur, Nagpur, India

Bhimaraya Metri

University of Bradford, Bradford, UK

Nripendra P. Rana

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Pushpa Raj, K., Shyamala Devi, B. (2020). Investor’s Perception Towards Mutual Fund Investing on the Rise of Digitalization in Indian Mutual Fund Industry. In: Sharma, S.K., Dwivedi, Y.K., Metri, B., Rana, N.P. (eds) Re-imagining Diffusion and Adoption of Information Technology and Systems: A Continuing Conversation. TDIT 2020. IFIP Advances in Information and Communication Technology, vol 617. Springer, Cham. https://doi.org/10.1007/978-3-030-64849-7_49

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Mutual Fund Industry in India Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Mutual Fund Industry in India Has Seen A Shift in Asset Shares Towards Smaller Cities, Driven by Digital Penetration and Smart Cities. This is Reflected in the Increased Retail Contribution Through Systematic Investment Plans. The Investment Fund Industry, Including Unit Trusts and Hedge Funds, Has Seen Strong Performance, Particularly in Equity Funds. There Has Also Been A Significant Increase in the Value of Assets Held in Money Market Funds, Index Funds, Bond Funds, Real Estate Investment Trusts, Commodity Funds, and Sector Funds.

India Mutual Fund Market Size

Need a report that reflects how COVID-19 has impacted this market and its growth?

India Mutual Fund Market Analysis

The India Mutual Fund Industry in terms of assets under management value is expected to grow from USD 0.66 trillion in 2024 to USD 1.51 trillion by 2029, at a CAGR of greater than 18% during the forecast period (2024-2029).

Mutual Funds are a big part of India's financial services industry. They offer various investment options to retail investors and give institutional investors a low-risk opportunity to create new products or add flexibility to their portfolios. India's mutual fund industry is now the second-largest in the world. It's one of the fastest-growing markets in the world, with over 46 million households investing in Mutual Funds. There are over 40 fund houses in India, but the top 10 fund houses or AMCs manage more than 70% of the total mutual fund assets. The Indian mutual fund industry has seen a 5-fold growth in AUM over the last decade.

In recent years, the mutual fund industry in India has experienced a surge in growth. This is primarily attributed to the increasing population and wealth of the nation. Funds invested in mutual funds can provide income for those unable to work. This has increased the number of individuals willing to invest in mutual funds. Furthermore, the growing digital penetration, the emergence of smart cities, and the improvement in data speeds have also contributed to the shift of asset shares towards more diminutive towns and cities. The increase in retail contribution through Systematic Investment Plans (SIPs) indicates the level of digitalization in India.

The mutual fund AUM increased 77% post-Covid. While a large part of this increase can be attributed to the post-COVID bounce in the markets, it was also largely accounted for by fresh inflows into mutual funds. Furthermore, folios have also grown to provide a retail boost to the volumes. Given the macro mutual fund flow trends, this sub-trend doesn’t come as a surprise. The long-term and long-duration lock-in debt fund AUM increased significantly.

India Mutual Fund Market Trends

Hike in mutual fund assets is driving the market.

In addition to the asset base, retail investors' share of the industry's assets increased to 57 percent compared to 55 percent last January. Institutional investors make up 43 percent, of which corporates make up 96 percent. The rest are Indian and foreign institutions, as well as banks. Individual investors mostly stick to equity-oriented schemes, while institutions stick to liquid, debt-focused schemes, and ETFs and FFOs. in this route despite the volatility of the markets. Mutual fund SIP contributions have increased more than three-fold over the past seven years. Furthermore, the SIP book increased by 16 percent from the same time last year.

In addition to the asset base, retail investors' share of the industry's assets increased to 57 percent compared to 55 percent last January. Institutional investors make up 43 percent, of which corporates make up 96 percent. The rest are Indian and foreign institutions, as well as banks. Individual investors mostly stick to equity-oriented schemes, while institutions stick to liquid, debt-focused plans, ETFs, and FFOs.

Rising Share of Small Cities in Mutual Funds Assets Under Management is Driving the Market

The Sensex has gone up by a whopping 100% in the past three years, which has had a significant impact on investor behavior and how investors view stocks. At the same time, the number of demat CDSL and NSDL accounts has gone up by 2.85 times, the number of SIP accounts has doubled, and the average monthly SIP contribution in the mutual fund industry has gone up by 18%. But one of the most significant changes in the economy and India's saving habits has been the rise of small towns in terms of mutual fund assets under management (AUM). India's Association of Mutual Funds has classified these cities as 'Other cities,' a category not included in the country's top 110 cities (regarding industry AUM contribution). In the current year, these cities make up 17% of the total AUM in the industry.

India Mutual Fund Industry Overview

The Indian mutual funds industry is highly competitive, with major international players. The Indian mutual funds industry presents opportunities for growth during the forecast period, which is expected to drive market competition further. With a few players holding a significant share, the Indian mutual funds industry has an observable level of consolidation. The report profiles companies including HDFC Mutual Fund, ICICI Prudential Mutual Fund, SBI Mutual Fund, Aditya Birla Sun Life Mutual Fund, and UTI Mutual Fund, among others.

India Mutual Fund Market Leaders

HDFC Mutual Fund

ICICI Prudential Mutual Fund

SBI Mutual Fund

UTI Mutual Fund

DSP BlackRock Mutual Fund

*Disclaimer: Major Players sorted in no particular order

India Mutual Fund Market News

• April 2023: ICICI Prudential Mutual Fund announced the launch of ICICI Prudential Innovation Fund. This open-ended thematic equity scheme will predominantly invest in equity, equity-related securities of companies, and units of global mutual funds/ETFs that can benefit from innovation strategies and themes.
• April 2023: HDFC Mutual Fund launched three index schemes – HDFC S&P BSE 500 Index Fund, HDFC NIFTY Midcap 150 Index Fund, and HDFC NIFTY Smallcap 250 Index Fund. These are open-ended schemes replicating/tracking the S&P BSE 500, NIFTY Midcap 150 Index, and NIFTY Smallcap 250 Index, respectively.

India Mutual Fund Industry Market Report - Table of Contents

1. INTRODUCTION

1.1 Study Assumptions and Market Definition

1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET DYNAMICS AND INSIGHTS

4.1 Market Overview

4.1.1 Brief on the Indian Economy and Asset Management Industry

4.1.2 India Mutual Fund Industry Size - AUMs Over the Years

4.1.3 Brief on Geographical Categorization (T30, B30, etc.) of the Indian Mutual Fund Landscape

4.2 Market Drivers

4.2.1 Economic Growth and Investor Awareness

4.3 Market Restraints

4.3.1 Regulatory Changes can create restraints to Mutual Fund market

4.4 Market Opportunities

4.4.1 Innovative Products and Expanding Distribution Network

4.5 Insights into Types of Schemes or Funds Offered in the Indian Mutual Fund Industry

4.6 Prominence of SIPs as a Tool of Investment in Mutual Funds in India

4.7 Brief on the Regulatory Environment

4.7.1 Regulatory Bodies Governing The Industry

4.7.2 Industry Policies Affecting Mutual Fund Schemes

4.7.3 Notable Reforms Related to Macroeconomic Factors and Incidents like the IL&FS Collapse

4.8 Technological Innovations Shaping the Industry

4.8.1 Trends of Gross Inflows - Physical Mode vs Digital Mode

4.8.2 Technologies (like AI, ML, RPA) Changing the Ecosystem

4.8.3 Fintechs Inflencing the Indian Mutual Fund Industry

4.9 Value Chain/Supply Chain Analysis

4.10 Porter's Five Forces Analysis

4.10.1 Bargaining Power of Suppliers

4.10.2 Bargaining Power of Buyers/Consumers

4.10.3 Threat of New Entrants

4.10.4 Threat of Substitute Products

4.10.5 Intensity of Competitive Rivalry

4.11 Impact of COVID-19 on the Market

5. MARKET SEGMENTATION

5.1 By Asset Class/Scheme Type

5.1.1 Debt-oriented Schemes

5.1.2 Equity-oriented Schemes

5.1.3 Money Market

5.1.4 ETFs and FoFs

5.2 By Source of Funds

5.2.1 Banks

5.2.2 Insurance Companies

5.2.3 Retail Investors

5.2.4 Indian Institutional Investors

5.2.5 FIIs and FPIs

5.2.6 Other Sources

6. COMPETITIVE LANDSCAPE

6.1 Market Concentration Overview

6.2 Company Profiles

6.2.1 SBI Mutual Fund

6.2.2 HDFC Mutual Fund

6.2.3 ICICI Prudential Mutual Fund

6.2.4 Reliance Mutual Fund

6.2.5 Aditya Birla Sun Life Mutual Fund

6.2.6 DSP BlackRock Mutual Fund

6.2.7 Kotak Mutual Fund

6.2.8 IDFC Mutual Fund

6.2.9 Tata Mutual Fund

6.2.10 Invesco Mutual Fund

6.2.11 Sundaram Mutual Fund*

• *List Not Exhaustive

7. FUTURE MARKET TRENDS

8. DISCLAIMER AND ABOUT US

India Mutual Fund Industry Segmentation

Mutual funds are pooled investments from many investors to invest in various asset classes. A mutual fund can be a corporation's pension or an employee-owned company's savings plan, or an individual or family can manage it. The report explains the Indian mutual fund industry, regulatory environment, MF companies, and business models. The report also provides a detailed market segmentation with the product types, current market trends, changes in market dynamics, and growth opportunities. Furthermore, an in-depth analysis of the market size and forecasts for the various segments are presented. The Indian Mutual Fund Industry is segmented based on asset class, and source of funds. By asset class, the market is segmented into debt-oriented schemes, equity-oriented schemes, money market, ETFs, and foods. By source of funds,the market is segmented into banks, retail investors, Indian institutional investors, FIIs, insurance companies, and other sources. The market size and forecasts are provided in terms of value (USD) for all the above segments.

India Mutual Fund Industry Market Research Faqs

How big is the india mutual fund industry.

The India Mutual Fund Industry size is expected to reach USD 0.66 trillion in 2024 and grow at a CAGR of greater than 18% to reach USD 1.51 trillion by 2029.

What is the current India Mutual Fund Industry size?

In 2024, the India Mutual Fund Industry size is expected to reach USD 0.66 trillion.

Who are the key players in India Mutual Fund Industry?

HDFC Mutual Fund, ICICI Prudential Mutual Fund, SBI Mutual Fund, UTI Mutual Fund and DSP BlackRock Mutual Fund are the major companies operating in the India Mutual Fund Industry.

What years does this India Mutual Fund Industry cover, and what was the market size in 2023?

In 2023, the India Mutual Fund Industry size was estimated at USD 0.54 trillion. The report covers the India Mutual Fund Industry historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the India Mutual Fund Industry size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

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India Mutual Fund Industry Industry Report

Statistics for the 2024 Mutual Fund in India market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Mutual Fund in India analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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• India Mutual Fund Industry Market Trends
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A Study of Growth of Mutual Fund Industry in India

Now day's mutual fund industry is one of the growing industry in India. Equity mutual funds registered an inflow of over Rs 20,000 crore in November, 2017 by strong participation from retail investors. In this paper researcher study has about growth of mutual fund industry in India & reasons behind the growth of mutual fund industry in India. The study is based on secondary data. In this paper researcher has focus on last one year data (from Oct, 2016 to Sep, 2017) of mutual fund. The major reasons of growth of mutual fund industry in India are demonetization, GST implementation, link the pan card & adhar card with bank account & awareness of capital market growth among peoples in India.

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The mutual fund industry in India has made available a reasonable option for a small investor to invest in the capital market. The Indian Mutual Fund industry experienced appreciable growth in past few years with the presence of many private players having global expertise. When it comes to small investors, the perception of the investor plays significant role for investment in mutual funds. Hence the present study tries to understand the perception of the investors investing in equity and equity linked saving schemes of mutual fund in Nagpur City in India in terms of factors which discriminates between such investors and non-investors using Logistic Regression Model. The major findings of the research are; amongst the various factors motivating investors to invest in mutual funds, the returns on investment and lock in period are the two important and significant factors, amongst the various sources of information for the respondents, the internet and friends & relatives are the two significant factors and amongst the major factors hindering investment in mutual funds, high risk and inefficient investment advisors are the significant factors influencing the decision making of the investors in MF which discriminates between investors and non-investors in mutual fund.

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Volume : VII, Issue : VIII, August - 2017

A study on growth and performance of mutual funds in india.

Dr. M. Jegadeeshwaran, Mahesh Kumar. T

  Mutual funds in India have become one of the most attractive ways for the average person to invest their surplus money.  A mutual fund pools resources from thousands of investors and then diversifies its investment into many different holdings such as stocks, bonds, or government securities in order to provide high relative safety and returns. This paper explores the growth and performance of mutual funds with its different schemes and evaluation of mutual fund investments with the help of analyzing the data such as Assets Under Management, Net Resources Mobilized by Mutual Funds, Bank and FI Sponsored. The tools used for this study were CAGR, ANOVA, T–test and Regression. This study will help to the investors in many ways like, selection process to determine long and short term investment needs by the growth and performance of Indian Mutual Funds.   

Article: Download PDF    DOI : 10.36106/ijar    Cite This Article:

Dr.M.JEGADEESHWARAN, MAHESH KUMAR.T, A STUDY ON GROWTH AND PERFORMANCE OF MUTUAL FUNDS IN INDIA, INDIAN JOURNAL OF APPLIED RESEARCH : Volume‾7 | Issue‾8 | August‾2017

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The evolution of mutual funds: Trends and innovations shaping the industry

Indians love mutual funds, and recent data backs this claim.

Indians love mutual funds, and recent data backs this claim. The total Assets Under Management (AUM) of the mutual fund industry reached a mammoth ₹ 53.4 lakh crore in March 2024. This article takes a look at the trends in this ever-growing industry in India and innovations that are shaping the industry.

Five defining trends in mutual fund investments in 2024:

The mutual fund industry has benefited from growing digitalisation: The advent of mobile banking apps that integrate banking and investment has made it very convenient for people to invest in mutual funds. An investor can easily track and manage their mutual fund investments through mutual fund apps too. Several fintech platforms in India facilitate mutual fund investments today, helping investors make regular investments. Digitalisation has also helped mutual fund companies personalise their offerings for investors, thereby helping them make better-informed investment decisions.

SIPs remain the most popular mode of investment in mutual fund schemes: The total amount collected through Systematic Investment Plans (SIPs) in March 2024 stood at ₹ 19,271 crore with a total of 8.4 crore SIP accounts opened according to the Association of Mutual Funds in India (AMFI). SIPs offer several benefits to investors including Rupee-Cost Averaging, the ability to leverage the power of compounding, and investment discipline. You can use an online SIP returns calculator to calculate your SIP returns at the end of your investment horizon. SIP calculators are free, online tools that help investors know their returns on maturity and decide on the ideal investment amount for their SIP investment.

Tier II and III Indian cities, too, are investing in mutual fund schemes:

An emerging trend in the mutual fund industry is the surge in mutual fund investments from tier-II and III cities in India. Mutual fund houses have reached out to a wider section of the Indian population and helped them grow their wealth through mutual fund investments. AMFI’s published data shows that a significant number of mutual fund investors in index funds are retail users who do not belong to the top 30 cities in the country in terms of mutual fund investments.

Investors are investing in mutual funds directly with AMCs: Investors are slowly moving towards direct investing in mutual fund schemes through SIPs. In other words, more people are preferring investing directly with asset management companies (AMCs) as opposed to going through a broker.

Sectoral investments are taking the lead: Another surprising trend in the mutual fund industry is the rise of sectoral investments in India. The market share of ETFs (Exchange-Traded Funds) increased to 16.6% in October 2023 from 16.1% in October 2022. An increasing number of Indians are investing across sectors through small-, mid-, sectoral, and large-cap mutual funds to gain more exposure to newer industries.

Mutual fund companies now host free, online tools called mutual fund returns calculators on their sites, helping investors decide on their ideal SIP amount and investment tenure. You must use this calculator on any AMC’s site before investing in a mutual fund.

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Nippon India Growth Fund

NAV : ₹ 3,399.825 as of 09 May, 2024

₹ 24,796 Cr

25 september 1995.

Launch date

Scheme type

Return Calculator

Over the past

Total Investment of ₹3,00,000

Would have become ₹4,01,068 ( +25.20% ), top holdings, holding(s) distribution, other scheme info, expense ratio.

Inclusive of GST

Exit load of 1% if redeemed within 1 months

Fund Managers

Akshay Sharma

Dec 2022 - Present

Sanjay Doshi

Jan 2017 - Present

Dhrumil Shah

Jul 2021 - Present

Tejas Sheth

Oct 2020 - Present

Kinjal Desai

Aug 2020 - Present

Rupesh Patel

Total AUM: 24796.00Cr

Nippon India Mutual Fund stands as one of the premier asset management companies in India, managing Assets Under Management (AUM) amounting to Rs. 380049 crores as of December 2023. Initially known as Reliance Mutual Fund, it underwent a transformation when Nippon Life Insurance Company, based in Japan, increased its stake to 75%, leading to the renaming of the company as Nippon India Mutual Fund ... View Nippon India Growth Fund AMC

Still have questions?

What is the nav of nippon india growth fund.

NAV stands for net asset value, where the performance of a mutual fund is derived by its NAV per unit. NAV per unit is the market value of securities in a scheme, divided by the total number of units in the scheme on a given date.

The Net Asset Value of Nippon India Growth Fund is ₹3,399.83

What is the AUM of Nippon India Growth Fund?

AUM means ‘asset under management,’ which implies the cumulative sum of the market value of total securities held in a mutual fund scheme. MFs invest in Equities, Bonds & other such instruments. If you add the market value of all the investments made by the mutual fund along with any idle cash that it holds, the final tally is called AUM. It tells you how large or small a mutual fund is.

The AUM of Nippon India Growth Fund is Cr. ₹24,796.

What is the minimum SIP amount for Nippon India Growth Fund?

Every mutual fund scheme has a minimum SIP amount, which one may start with.

The minimum SIP amount of Nippon India Growth Fund is ₹100

What is the Expense Ratio of Nippon India Growth Fund?

As per SEBI Regulations, mutual funds are permitted to charge certain operating expenses for managing a mutual fund scheme. The total expense ratio is calculated as a percentage of the scheme’s NAV. It's deducted from the total revenue generated by a mutual fund before disbursing it to the investors.

The Expense Ratio of Nippon India Growth Fund is ₹1.63

What is the Exit load of Nippon India Growth Fund?

It’s a fee charged by the mutual fund house if an investor fully or partially exits from an invested scheme within a stated period from the date of investment. The time period for which it applies varies with the type of fund. It's calculated from the date of investment, whether in SIP or lump sum form.

The Exit load of Nippon India Growth Fund is Exit load of 1% if redeemed within 1 months.

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Gasoline Demand Growth to Slow This Year on EV Growth in China, U.S.

FILE PHOTO: An electric vehicle (EV) by Mercedes-Benz moves on a street in Beijing, China October 31, 2023. REUTERS/Tingshu Wang/File Photo

By Mohi Narayan

NEW DELHI (Reuters) -Global petrol demand growth could halve in 2024, squeezing second-half refinery margins, analysts said, driven by a shift to electric cars in China and the United States and a return to normal consumption after last year's bounce following COVID-19.

In the lowest growth since 2020, demand is likely to rise 340,000 barrels per day (bpd), to stand at 26.5 million bpd this year, says consultancy Wood Mackenzie, down from growth of 700,000 bpd last year, as China nears the point of peak transport fuel demand and the U.S. has surpassed it.

"Penetration of electric vehicles has been increasing in U.S. and China," said Woodmac analyst Sushant Gupta.

"For this year Chinese demand will grow by only 10,000 bpd, due to higher EV uptake."

Consultancy Rystad Energy pegs global gasoline demand at about 26 million bpd in 2024, up about 300,000 bpd from growth of about 700,000 bpd in 2023, fuelled by the consumption boom after the pandemic, said analyst Mukesh Sahdev.

China, once the world's driver of gasoline demand, is expected to account for more than half of all EV sales this year, the International Energy Agency has said.

Gasoline consumption by the world's largest crude importer is set to grow by about 1.3%, or about 2 million tons, to 165.1 million metric tons (3.8 million bpd) this year, forecasts by a research arm of China National Petroleum Corp (CNPC) show.

The research arm of China's biggest refiner, Sinopec, expects gasoline demand to rise by 1.7%, or about 3 million tons, to stand at 182 million tons this year.

As falling prices spur demand, the share of electric cars sold this year could reach 45% in China, about 25% in Europe and more than 11% in the United States, the IEA estimates.

By comparison, booming car sales, along with high economic growth and low EV penetration, are driving gasoline demand in India and Indonesia.

India's petrol consumption will hit a fresh record of 39.2 million tons (908,000 bpd) in the year to March 2025, up about 5% from 37.2 million tons in the year to March 2024, government estimates showed.

MARGIN PRESSURE

U.S. gasoline consumption fell to about 376 million gallons per day (8.94 million bpd) in 2023 after hitting a record 392 million gallons in 2018, according to the U.S. Energy Information Administration.

Demand in 2024 is expected to be flat, analysts said.

As a result, U.S. refining margins are expected to stay under pressure after the peak summer driving season, Woodmac and Rystad analysts said.

In Europe, gasoline demand will grow by 50,000 bpd or 2.3% in 2024 to 2.19 million bpd, in line with recent years, FGE said.

Stagnant European petrol demand and rising competition from Nigeria's new Dangote refinery, the largest in Africa and Europe that could add 280,000-300,000 bpd of gasoline to global balances, will put European refining margins under pressure, Woodmac said.

Gasoline margins across the United States and Asia have gained 85% this year, to stand at about $29 from a barrel of WTI crude on May 1 and 29% and about $13 from a barrel of Brent crude on April 30, respectively, on expectations of robust summer demand, LSEG data showed.

Margins gained strength early this year due to scattered refinery outages in Asia and the U.S., while higher freight costs due to attacks on Red Sea shipping and Russian energy infrastructure supported European gasoline markets. [REF/OUT]

Eurobob gasoline was worth around $23 from a barrel of Brent crude on May 1, up from the $19.67 average in April last year, the data showed.

(Reporting by Mohi Narayan, additional reporting by Robert Harvey in London and Aizhu Chen in Singapore; Editing by Florence Tan and Clarence Fernandez)

Copyright 2024 Thomson Reuters .

Tags: United States , India , Europe

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