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Motilal Oswal Report
The Nifty exited FY24 on a high note with 29% returns (versus -1% in FY23) amid weak global macros, high interest rates, and geopolitical uncertainties that kept global markets volatile and jittery.
The Indian markets continued to showcase their resilience and outperformed other emerging markets handsomely.
MSCI India outperformed global markets by a wide margin in the past 12 months. Countering the challenges, domestic Mutual Funds' equity assets under management rose for the fourth consecutive year to Rs 25.7 trillion (+52% YoY) in FY24.
The rise in AUM was fueled by an uptrend in market indices (Nifty: +29% YoY) and higher equity scheme sales (at Rs 5,681 billion; +16% YoY). However, the pace of redemptions also increased 50% YoY to Rs 3,710 billion, leading to a decline in net inflows to Rs 1,971 billion in FY24 from Rs 2,404 billion in FY23.
The MF industry's total AUM jumped 35% YoY (Rs 14 trillion) to Rs 53.4 trillion in FY24, propelled by growth in equity funds (Rs 8,759 billion), other ETFs (Rs 1,797 billion), balanced funds (Rs 1,582 billion), arbitrage funds (Rs 856 billion), and liquid funds (Rs 714 billion).
Investors continued to park their money in mutual funds, with inflows and contributions in systematic investment plans reaching a new high of Rs 192.7 billion in March-24 (up 0.4% month-on-month and 35% YoY).
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