India Mutual Funds Market To Witness Robust Expansion Throughout The Forecast Period 2023 to 2030

The recent research report published by Quadintel gives an insight into the global India Mutual Funds Market. According to this published competitive intelligence analysis, the global India Mutual Funds Market is expected to experience a promising annual revenue increase (USD in Mn) in 2021. A comprehensive overview and precise insights into possible future scenarios for the worldwide market are provided in this study.

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The mutual fund industry AUM increased at a rate of 22.94% and is expected to reach INR 918.54 Tn by FY 2024.

Key Companies Covered in the India Mutual Funds Market Research are HDFC Asset Management Company Limited, Reliance Nippon Life Asset Management Limited, Aditya Birla Sun Life AMC Limited, Axis Asset Management Company Limited, DSP Investment Managers Private Limited, Franklin Templeton Asset Management (India) Private Limited, ICICI Prudential Asset Management Company Limited, Kotak Mahindra Asset Management Company Limited, SBI Funds Management Private Limited, UTI Asset Management Company Limited and other key market players.

In terms of assets under management (AUM), the mutual fund industry in India has been experiencing steady growth over the past few years. During the FY 2016-FY 2019 period. This growth can be attributed to the growing importance of the savings culture among people and inclination towards systematic investment plan (SIP) schemes. Both individuals and institutional investors are expected to contribute equally to the growth of the market during the forecast period.

Market segment insights

As of June 2019, retail investors held the highest market share (~91.56%) in the overall mutual fund industry, in terms of the number of accounts. Retail investors also hold the maximum number of accounts across different types of funds, equity-oriented schemes being the most popular. Among the different kinds of mutual fund schemes, equity-oriented plans held a share of ~72.4% in the overall market in terms of number of accounts, as recorded in June 2019.

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Key growth drivers of the market

The proclivity to save money among people in the country is fueling the growth of the mutual fund industry in India. During the early-2000s, Indians used to make investments in physical assets and financial assets at the ratio of 3:2, which became 1:1 in FY 2019. This led to an inflow of INR ~3 Tn in the Indian financial sector by FY 2019.

A rise in preference towards SIP schemes has recently been observed among investors in the country. The total contribution of SIP investments was INR ~679.1 Bn in FY 2018, which increased to INR ~926.93 Bn in FY 2019. A rise in SIP investments in the coming years is expected to drive growth in the Indian mutual fund industry.

Key deterrents to the growth of the market
Though, of late, the population has been expressing interest in mutual funds market, lack of efficiency of asset management companies presents a challenge for the penetration of mutual funds across India. Companies often tend to limit their expenses for the development and maintenance of distribution channels only in tier 1 cities.

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This release was published on openPR.