Mutual funds see steady inflow after AUM crossed Rs 50 lakh crore in FY24, March folios surge 22%
In FY24, the mutual fund industry surpassed the Rs 50 lakh crore mark in assets under management. The net AUM of the industry grew by 35.5% to Rs 53.4 lakh crore in FY24.
The net inflow in the mutual fund industry reached Rs 3.55 lakh crore, an increase of 4.6 times compared to Rs 76,225 crore in the previous year.
Also, in the three main categories of schemes, the hybrid category saw net flows increasing by 9.7 times to Rs.1.45 lakh crore, compared to the outflow of Rs.18,813 crore which it reported in FY23.
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IT companies guided for muted growth but how have stocks performed year to date; Here’s all you need to know
On March 19, the markets saw a big sell-off which was led majorly by the IT stocks, to be more specific – Tata Consultancy Services among IT stocks.
However, let’s see how IT stocks have performed till now in 2024.
The stocks of IT haven’t performed that well from year to date as they’ve dipped as low as 18.6% year to date whereas rose highest almost 10% YTD. Shares of LTIMindtree have fallen almost 19% in the current year 2024 while those of Persistent Systems rose around 10% in the same period and was the highest return-giving stock during this timeframe.
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