{"id":2835,"date":"2024-09-18T16:47:06","date_gmt":"2024-09-18T11:17:06","guid":{"rendered":"https:\/\/savart.com\/blog\/?p=2835"},"modified":"2025-04-12T15:12:36","modified_gmt":"2025-04-12T09:42:36","slug":"the-growth-of-indias-mutual-fund-industry","status":"publish","type":"post","link":"https:\/\/savart.com\/blog\/the-growth-of-indias-mutual-fund-industry\/","title":{"rendered":"The growth of India\u2019s Mutual Fund Industry"},"content":{"rendered":"\r\n<p><span id=\"input-sentence~0\">In the recent years, India\u2019s Mutual Fund industry has emerged as a powerhouse, attracting a surge of investors seeking various ways for wealth creation and financial growth. <br \/><br \/>People now-a-days started investing in the stock markets and they have realized the worth and value of investing.<\/span><span id=\"input-sentence~1\"> <br \/><br \/>There is a huge surge in the stock market participants and the assets under management in the mutual funds have also grown multifold. <br \/><br \/>According to AMFI, the Mutual Fund Industry\u2019s AUM has grown from INR 25.48 trillion as on August 31, 2019 to INR 66.70 trillion as on August 31, 2024, more than 2 fold increase in a span of 5 years.<\/span><span id=\"input-sentence~2\"> <br \/><br \/>The number of investor folios has gone up from 8.53 crore folios as on 31- August- 2019 to 20.45 crore as on 31-August-2024, more than 2-fold increase in a span of 5 years. <br \/><br \/>The industry has grown massively but every story has its own beginings.<\/span><span id=\"input-sentence~3\"> Let us focus the different stages of the growth in the Mutual Funds Industry. <br \/><br \/><strong>Phase-1:<\/strong> <br \/><br \/>The mutual fund industry in India traces back to 1963, with the establishment of the Unit Trust of India (UTI) by an Act of Parliament.UTI was first under the regulatory and administrative oversight of RBI.<\/span><span id=\"input-sentence~4\"> RBI played a crucial role in shaping its early foundation. However, in 1978, UTI\u2019s regulatory framework was restructured later and IDBI took over the charge from RBI.<br \/><br \/>UTI launched its product Unit Scheme in 1964 which is pioneering mutual fund scheme that marked a significant milestone in India&#8217;s investment landscape<br \/><br \/>At a time when investing in financial markets was still nascent, US &#8217;64 offered a gateway for retail investors to enter into the world of investments, contributing to the growth of a collective investment culture in the country.<\/span><span id=\"input-sentence~5\"> <br \/><br \/>By the end of 1988, UTI had accumulated a notable \u20b96,700 crore in Assets Under Management (AUM), a reflection of its growing trust among investors and its ability to attract capital.<br \/><br \/>This remarkable journey not only laid the groundwork for the Indian mutual fund industry but also ignited a shift in the way Indians approached savings and investments, with mutual funds emerging as a preferred vehicle for wealth creation.<\/span><span id=\"input-sentence~6\"> <br \/><br \/>Over time, mutual funds have become a cornerstone of India&#8217;s financial ecosystem, offering a diversified investment platform that continues to evolve, providing investors with various options to grow their wealth while managing risk. <br \/><br \/><strong>Phase-2:<\/strong> <br \/><br \/>Coming to the next part of Mutual Fund Industry growth, the year 1987 marked the entry of public sector mutual funds set up by Public Sector banks and Life Insurance Corporation of India (LIC) and General Insurance Corporation of India (GIC).<\/span><span id=\"input-sentence~7\"> <br \/><br \/>SBI Mutual Fund made history in June 1987 as the first \u2018non-UTI\u2019 mutual fund, opening the doors for more players to enter the industry. This was followed by Canbank Mutual Fund in December 1987, and then other financial giants joined the movement: Punjab National Bank Mutual Fund in August 1989, Indian Bank Mutual Fund in November 1989, and Bank of India in June 1990.<\/span><span id=\"input-sentence~8\"><br \/><br \/>Soon after, Bank of Baroda Mutual Fund entered the scene in October 1992, further expanding the industry\u2019s reach. Around the same time, LIC launched its own mutual fund in June 1989, and GIC followed suit in December 1990. <br \/><br \/>By the end of 1993, the mutual fund industry had reached a staggering \u20b947,004 crore in Assets Under Management (AUM).<\/span><span id=\"input-sentence~9\"> This rapid growth reflected the increasing trust that Indian investors were placing in mutual funds, as they sought new avenues to grow their savings and build wealth. <br \/><br \/>What began with just a few institutions quickly grew into a popular way for regular people to invest.<\/span><span id=\"input-sentence~10\"> Mutual funds were no longer only for expert investors or financial professionals; they became a common choice for anyone looking to grow their money while managing risk.<br \/><br \/>The entry of these big, trusted institutions helped establish mutual funds as an important part of India\u2019s financial system.<\/span><span id=\"input-sentence~11\"> This period marked the start of a new chapter in Indian investing, laying the groundwork for the successful mutual fund industry we have today. <br \/><br \/><strong>Phase \u2013 3:<\/strong> <br \/><br \/>Most of the people who invest in the stock markets are familiar with the SCAM 1992, which led to the establishment of SEBI in April 1992 to protect the investors in securities market and to provide the development of, and to regulate, the securities market.<\/span><span id=\"input-sentence~12\"> <br \/><br \/>In 1993, the first set of SEBI regulations for mutual funds was introduced, covering all funds except UTI. This year also saw the launch of Kothari Pioneer, the first private sector mutual fund in India, which later merged with Franklin Templeton.<\/span><span id=\"input-sentence~13\"><br \/><br \/>The entry of private mutual funds marked a major shift for the industry, offering Indian investors a broader range of options for their investments. <br \/><br \/>In 1996, SEBI updated and replaced the initial regulations with a more comprehensive set, known as the SEBI (Mutual Fund) Regulations, 1996.<\/span><span id=\"input-sentence~14\"> These rules continue to govern the mutual fund industry today. <br \/><br \/>Over time, the number of mutual funds in India grew significantly, with many international companies entering the market.<br \/><br \/>This period also saw several mergers and acquisitions, reshaping the industry. By January 2003, there were 33 mutual funds managing a combined \u20b91,21,805 crore in assets, with UTI alone managing \u20b944,541 crore.<\/span><span id=\"input-sentence~15\"> <br \/><br \/>This growth phase expanded investment opportunities for the public, bringing global players and expertise into the Indian market, and setting the stage for further development of the mutual fund industry. <br \/><br \/><strong>Phase \u2013 4:<\/strong> <br \/><br \/>Fast Forward to today India stands as one of the world\u2019s largest Mutual Funds Industry with great number of investors and huge amounts of assets under management.<\/span><span id=\"input-sentence~16\"> <br \/><br \/>In February 2003, after the repeal of the Unit Trust of India Act, 1963, UTI was split into two new entities: the Specified Undertaking of the Unit Trust of India (SUUTI) and UTI Mutual Fund, which began operating under SEBI regulations.<\/span><span id=\"input-sentence~17\"><br \/><br \/>This period also saw a series of mergers within private sector mutual funds, marking the fourth phase of consolidation in the Indian mutual fund industry. <br \/><br \/>However, the global financial crisis in 2009 had a significant impact on the markets, including India.<\/span><span id=\"input-sentence~18\"> Many investors who entered the market at its peak lost money, and confidence in mutual funds took a hit.<br \/><br \/>Adding to this, SEBI abolished the Entry Load (a fee paid when investing in mutual funds), which further slowed the recovery.<\/span><span id=\"input-sentence~19\"> Between 2010 and 2013, the industry struggled with sluggish growth as it tried to find stability. <br \/><br \/>By May 2014, the AUM of the Indian mutual fund industry crossed \u20b910 trillion for the first time. In just three years, it doubled, reaching \u20b920 trillion by August 2017.<\/span><span id=\"input-sentence~20\"><br \/><br \/>It crossed \u20b930 trillion in November 2020. The growth has continued, with the AUM surging to \u20b966.70 trillion as of August 2024\u2014a sixfold increase over the past decade.<br \/><br \/>Additionally, the number of investor accounts (folios) jumped from 8.53 crore in August 2019 to 20.45 crore by August 2024, with an average of 19.87 lakh new accounts being added every month during this period. <br \/><br \/>This impressive growth has been made possible by the twin effects of SEBI&#8217;s regulatory measures and the efforts of mutual fund distributors.<\/span><\/p>\r\n<p>These distributors have been crucial in expanding the reach of mutual funds, especially in smaller towns, not only helping people invest but also guiding them through market ups and downs.\u00a0<\/p>\r\n\r\n\r\n\r\n<p>A major part of this success is also attributed to the rise of Systematic Investment Plans (SIPs). SIPs have become increasingly popular, with the number of SIP accounts growing from 1 crore in April 2016 to an impressive 9.61 crore by August 2024.\u00a0<\/p>\r\n\r\n\r\n\r\n<p>In short, the Indian mutual fund industry has seen tremendous growth over the past decade, thanks to strong regulatory support, the commitment of distributors, and the growing awareness among investors about the benefits of long-term investments through mutual funds.\u00a0<\/p>\r\n\r\n\r\n\r\n<p>Savart is a SEBI-registered investment advisor. The purpose of this content is to educate, not advise or recommend any particular security. Please remember that investments are subject to market risks. Please conduct thorough due diligence or seek professional guidance before making any investment. Do not believe in any speculations.\u00a0 \u00a0<\/p>\r\n","protected":false},"excerpt":{"rendered":"<p>In the recent years, India\u2019s Mutual Fund industry has emerged as a powerhouse, attracting a surge of investors seeking various ways for wealth creation and financial growth. People now-a-days started investing in the stock markets and they have realized the worth and value of investing. There is a huge surge in the stock market participants [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":2836,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2835","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investments"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The growth of India\u2019s Mutual Fund Industry - Savart Blogs - Investing Simplified<\/title>\n<meta name=\"description\" content=\"Discover how the Indian mutual fund industry grew sixfold in a decade, fueled by SIPs, SEBI regulations, and expanding investor awareness\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/savart.com\/blog\/the-growth-of-indias-mutual-fund-industry\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The growth of India\u2019s Mutual Fund Industry - 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