Mutual funds in India

• The total Assets Under Management (AUM) of the Indian mutual fund industry as of December 31, 2023, stood at a staggering {{INRConvert|50.78|t|lk=r|year=2024}}. This is a significant milestone, marking over a six-fold increase compared to the {{INRConvert|8.26|t|lk=r|year=2024}} recorded in December 2013.{{Cite web |title=Indian Mutual Fund Industry's Average Assets Under Management (AAUM) stood at ₹ 57.01 Lakh Crore (INR 57.01 Trillion) |url=https://www.amfiindia.com/indian-mutual |access-date=2024-06-10 |website=www.amfiindia.com}}
• According to SEBI, during FY 2022–23, 73% of mutual fund units were redeemed within 2 years of investment. Only investments in 3% of the units continued for more than 5 years.{{cite web | url=https://www.sebi.gov.in/reports-and-statistics/publications/oct-2022/annual-report-2021-22_63812.html | title=SEBI | Annual Report 2021-22 }}{{cite news | url=https://economictimes.indiatimes.com/markets/stocks/news/50-mutual-funds-get-redeemed-within-a-year-is-long-term-investing-dead/articleshow/100464529.cms | title=50% mutual funds get redeemed within a year. Is long-term investing dead? | newspaper=The Economic Times | date=24 May 2023 | last1=Agarwal | first1=Nikhil }}
• According to the Reserve Bank of India report, mutual funds attracted 6% of household savings in FY2023 and less than 1% went into direct equities.{{cite web | url=https://www.rbi.org.in/Scripts/BS_ViewBulletin.aspx?Id=19895 | title=Reserve Bank of India - RBI Bulletin }}{{Cite web |date=2023-09-20 |title=Mutual funds attract 6% of household savings in FY23, shows RBI data |url=https://www.business-standard.com/markets/mutual-fund/mutual-funds-attract-6-of-household-savings-in-fy23-shows-rbi-data-123092000972_1.html |website=Business Standard}}{{cite web | url=https://www.rbi.org.in/Scripts/QuarterlyPublications.aspx?head=Household+Financial+Savings | title=Reserve Bank of India - Household Financial Savings }} Almost 95% of household savings in India park their money in bank deposits, including fixed deposit, provident fund, PPF, life insurance, and various small savings schemes.
• According to the S&P SPIVA Report FY2022, over a 10-year period, approximate 68% of the large-cap actively managed funds failed to beat their respective benchmarks, and over 50% failed to beat their benchmarks in the mid- and small-cap segments.https://www.spglobal.com/spdji/en/documents/spiva/spiva-india-scorecard-year-end-2022.pdf {{Bare URL PDF|date=August 2024}} Within the ELSS funds category, over 60% failed to beat their respective benchmarks over 10 year period. Globally, over long periods of time, passively managed funds consistently outperform actively managed funds.{{Cite news |date=2022-12-02 |title=Mutual Funds That Consistently Beat the Market? Not One of 2,132. |language=en |work=New York Times |url=https://www.nytimes.com/2022/12/02/business/stock-market-index-funds.html |access-date=2023-08-21}}{{Cite journal |last=Choi |first=James J. |date=2022 |title=Popular Personal Financial Advice versus the Professors |journal=Journal of Economic Perspectives |language=en |volume=36 |issue=4 |pages=167–192 |doi=10.1257/jep.36.4.167 |issn=0895-3309 |doi-access=free}}{{Cite journal |last=Malkiel |first=Burton G. |date=2013 |title=Asset Management Fees and the Growth of Finance |journal=Journal of Economic Perspectives |language=en |volume=27 |issue=2 |pages=97–108 |doi=10.1257/jep.27.2.97 |issn=0895-3309|doi-access=free }}

• AUM of Equity funds – {{INRConvert|20.33|lc}} (November 2023){{Cite news |last=Khanna |first=Surbhi |date=2023-12-20 |title=Equity mutual fund AUM increases 35% in 2023 |url=https://economictimes.indiatimes.com/mf/analysis/equity-mutual-fund-aum-increases-35-in-2023/articleshow/106143657.cms |access-date=2024-04-19 |work=The Economic Times |issn=0013-0389}}
• AUM of Hybrid funds – {{INRConvert|6.90|lc}} (January 2024){{Cite web |title=Which hybrid mutual funds contribute the maximum to category AUM? - Category AUM |url=https://economictimes.indiatimes.com/mf/analysis/which-hybrid-mutual-funds-contribute-the-maximum-to-category-aum/category-aum/slideshow/108039063.cms |access-date=2024-04-19 |website=The Economic Times}}
• AUM of Debt funds – {{INRConvert|11.97|t}} (March 2020){{Cite web |title=Reserve Bank of India - RBI Bulletin |url=https://www.rbi.org.in/Scripts/BS_ViewBulletin.aspx?Id=18995 |access-date=2024-04-19 |website=www.rbi.org.in}}

{{Financial risk types}}

In April 2020, Franklin Templeton India unexpectedly wound up six credit funds with assets of close to $4 billion, citing a lack of liquidity amid the coronavirus pandemic. These funds had large exposure to higher-yielding, lower-rated credit securities. The Securities and Exchange Board of India (SEBI) conducted a probe into this sudden closure and found “serious lapses and violations”. As a result, in June 2021, SEBI barred Franklin Templeton Mutual Fund from launching any new debt schemes for two years. The regulator also ordered the fund house to refund investment and advisory fees, along with interest, of more than 5 billion rupees, and fined the global giant another 50 million rupees.{{Cite web|url=https://www.reuters.com/business/finance/indian-regulator-bans-new-franklin-templeton-debt-funds-two-years-2021-06-07/|title=Indian regulator bans new Franklin Templeton debt funds for two years | Reuters|website=Reuters }}{{Cite web |last= |first= |date=2023-08-22 |title=All Assets In Closed Franklin Templeton MF Schemes Liquidated: SBI Funds |url=https://business.outlookindia.com/mutual-funds/all-assets-in-closed-franklin-templeton-mf-schemes-liquidated-sbi-funds |access-date=2024-04-19 |website=Outlook Business & Money |language=en}}{{Cite web |date=2020-04-25 |title=Franklin Templeton mess: A liquidity mishap or a series of wrong, aggressive bets? |url=https://www.moneycontrol.com/news/business/franklin-templeton-mess-a-liquidity-mishap-or-a-series-of-wrong-aggressive-bets-5188271.html |access-date=2024-04-19 |website=Moneycontrol |language=en}}{{Cite web |date=2021-06-10 |title=Franklin Templeton moves to calm Indian investors after new debt fund ban |url=https://www.business-standard.com/article/markets/franklin-templeton-moves-to-calm-indian-investors-after-new-debt-fund-ban-121061000043_1.html |website=Business Standard}}

Franklin Templeton said it strongly disagreed with the SEBI’s order and planned to appeal against it. The decision to wind up the schemes “was taken with the sole objective of preserving value for unitholders”, a spokesperson said. However, the closure of these funds sparked panic withdrawals from other Franklin Templeton schemes as well as credit funds of other asset managers, leading to a storm on social media and court cases by distraught investors.

In 2019, the debt schemes of Reliance Mutual Fund faced a liquidity crisis due to their exposure to troubled companies like Dewan Housing Finance Corporation (DHFL). This led to severe redemptions and forced asset sales, which significantly affected investors.{{Cite web|url=https://bfsi.economictimes.indiatimes.com/news/nbfc/how-the-ilfs-crisis-ravaged-indias-nbfc-sector-a-timeline/90541212|title=How the IL&FS crisis ravaged India's NBFC sector - A Timeline - ET BFSI|website=ETBFSI.com}}{{Cite news|url=https://www.thehindu.com/business/Industry/liquidity-crisis-hits-reliance-cap-arms/article26984500.ece|title=Liquidity crisis hits Reliance Cap arms|first=Special|last=Correspondent|newspaper=The Hindu |date=29 April 2019|via=www.thehindu.com}}

The IL&FS crisis in 2018 had a significant impact on the mutual fund industry, including those managed by IDBI Mutual Fund. The defaults by IL&FS led to a series of downgrades and defaults on its debt obligations and inter-corporate deposits1. This situation caused considerable distress in the financial markets and led to significant markdowns in the Net Asset Values (NAVs) of the affected mutual fund schemes, resulting in losses to investors.{{Cite news|url=https://www.thehindu.com/business/Industry/ilfs-saga-what-is-the-lowdown-on-bailout-after-default/article25216292.ece|title=IL&FS saga: What is the lowdown on bailout after default?|first=Manojit|last=Saha|newspaper=The Hindu |date=13 October 2018|via=www.thehindu.com}}{{Cite web|url=https://bfsi.economictimes.indiatimes.com/news/nbfc/5-years-of-ilfs-crisis-heres-how-it-wreaked-havoc-on-nbfc-sector/103845157|title=5 years of IL&FS crisis: Here's how it wreaked havoc on NBFC sector - ET BFSI|website=ETBFSI.com}}{{Cite web|url=https://www.ndtvprofit.com/business/il-fs-crisis-everything-you-need-to-know-about-companys-recent-troubles-1922150|title=IL&FS Crisis: Everything You Need To Know About Company's Recent Troubles|date=25 September 2018|website=NDTV Profit}}

The defaults by Infrastructure Leasing & Financial Services (IL&FS) triggered a liquidity crisis, making it difficult for mutual funds to meet redemption demands without selling assets at distressed prices. This event heightened concerns about credit risk, leading to widespread downgrades of IL&FS and other non-banking financial companies (NBFCs). Consequently, the net asset values (NAVs) of mutual funds holding these securities were adversely affected, reflecting the increased credit risk and decreased market confidence.{{Cite web |last=BUCH |first=HIMADRI |date=2018-09-15 |title=25 mutual funds with Rs 2,700 crore of IL&FS bonds take a hit |url=https://www.moneycontrol.com/news/business/mutual-funds/25-mutual-funds-with-rs-2700-crore-of-ilfs-bonds-take-a-hit-2950281.html |website=moneycontrol.com}}{{Cite web|url=https://www.newindianexpress.com/business/2018/Oct/05/the-cause-and-ripple-effect-of-the-ilfs-fiasco-on-the-market-1881448.html|title=The cause and ripple effect of the IL&FS fiasco on the market|date=5 October 2018|website=The New Indian Express}}{{Cite web|url=https://www.zeebiz.com/india/news-the-cause-and-ripple-effect-of-the-ilfs-fiasco-on-the-market-66105|title=The cause and ripple effect of the IL&FS fiasco on the market|date=5 October 2018|website=Zee Business}}{{Cite news|url=https://economictimes.indiatimes.com/markets/stocks/news/ilfs-crisis-impact-mutual-fund-holdings-in-cps-slump-25/articleshow/70293533.cms|title=IL&FS crisis impact: Mutual fund holdings in CPs slump 25%|newspaper=The Economic Times |date=19 July 2019}}

Investor confidence in debt mutual funds, particularly those with high exposure to NBFCs and infrastructure debt, was severely undermined. This led to significant outflows as investors moved towards safer and more liquid investment options. In response, the Securities and Exchange Board of India (SEBI) introduced stricter regulations on sectoral exposure, single issuer limits, and the quality of collateral accepted in debt funds to enhance liquidity and reduce risks. Fund managers began focusing on higher-quality assets and improved risk management practices. The crisis underscored the need for better credit assessment and liquidity management, prompting regulatory reforms and a more cautious investment approach within the mutual fund industry.

Several mutual funds, including those managed by JP Morgan Asset Management India, faced significant issues due to exposure to Amtek Auto, which defaulted on its debt in 2015. JP Morgan had to suspend redemptions and impose exit loads to manage the liquidity crisis.{{Cite web |date=2015-12-08 |title=JP Morgan AMC sells Amtek Auto debentures |url=https://www.business-standard.com/article/markets/jp-morgan-amc-sells-amtek-auto-debentures-115120700688_1.html}}{{Cite news|url=https://economictimes.indiatimes.com/mf/mf-news/jp-morgan-mf-settles-amtek-auto-case-with-sebi/articleshow/63476607.cms|title=JP Morgan MF settles Amtek Auto case with Sebi|newspaper=The Economic Times |date=27 March 2018}}{{Cite web |last=Upadhyay |first=Jayshree P. |date=2018-03-27 |title=JP Morgan firms settle Amtek Auto case with Sebi for Rs8.07 crore |url=https://www.livemint.com/Home-Page/2tFULNnHZeKX7D4XgaVoRN/JP-Morgans-MF-units-settles-Amtek-Auto-case-with-Sebi-for-R.html |website=livemint.com}}

In 2018, Aditya Birla Sun Life Mutual Fund faced redemption pressures in some of its debt schemes due to exposure to entities like the Essel Group companies. The Economic Times reported that the Aditya Birla Sun Life Mutual Fund was the biggest investor in the Essel Group, with an exposure of Rs 2,936 crore spread across 28 schemes1. This accounted for almost 37% of the total debt fund exposure to the Zee group, which is part of the Essel Group.{{Cite news|url=https://economictimes.indiatimes.com/wealth/personal-finance-news/debt-funds-have-over-rs-8000-crore-invested-in-zee-group-firms/articleshow/67711196.cms|title=Essel Group strikes deal with lenders to avert pledged share crisis|first=Babar|last=Zaidi|newspaper=The Economic Times |date=28 January 2019}}

The Dewan Housing Finance Corporation (DHFL) crisis had a profound impact on the Indian mutual fund industry. DHFL's defaults created a severe liquidity crunch, making it difficult for mutual funds to meet redemption pressures without selling assets at heavily discounted prices. This crisis raised significant concerns about the creditworthiness of housing finance companies (HFCs) and non-banking financial companies (NBFCs), leading to downgrades of DHFL's debt instruments and adversely affecting the net asset values (NAVs) of mutual funds holding these securities.{{Cite web |date=2019-06-12 |title=DHFL crisis deepens with rating downgrades, write-offs by mutual funds |url=https://www.livemint.com/companies/news/dhfl-crisis-deepens-with-rating-downgrades-write-offs-by-mutual-funds-1559759082305.html |website=livemint.com}}{{Cite news|url=https://economictimes.indiatimes.com/mf/analysis/is-your-debt-mutual-fund-scheme-hit-by-dhfl-crisis-here-is-what-you-should-do/articleshow/69685883.cms|title=Is your debt mutual fund scheme hit by DHFL crisis? Here is what you should do|first=Shivani|last=Bazaz|newspaper=The Economic Times |date=7 June 2019}}{{Cite news|url=https://economictimes.indiatimes.com/wealth/personal-finance-news/top-mutual-funds-still-have-rs-8650-crore-exposure-to-dhfl-four-group-entities/articleshow/67767896.cms|title=Top mutual funds still have Rs 8,650 crore exposure to DHFL & four group entities|newspaper=The Economic Times |date=31 January 2019}}{{Cite web|url=https://scroll.in/article/926444/scroll-explainer-what-happened-to-finance-firm-dhfl-and-what-that-means-for-the-indian-economy|title=Scroll Explainer: What happened to finance firm DHFL – and what that means for the Indian economy|first=Rohan|last=Venkataramakrishnan|date=10 June 2019|website=Scroll.in}}

Investor confidence in debt mutual funds, especially those with high exposure to HFCs and NBFCs, was severely shaken, resulting in substantial outflows as investors sought safer investments. In response, the Securities and Exchange Board of India (SEBI) increased scrutiny and introduced tighter regulations on mutual funds' exposure to individual issuers and sectors to mitigate such risks in the future. Fund managers adjusted their portfolios by shifting towards higher-quality and more liquid assets, reducing exposure to high-risk debt instruments. The crisis underscored the importance of credit quality and liquidity management, prompting regulatory reforms and a more cautious approach within the mutual fund industry.

The Unit Trust of India (UTI) faced a significant crisis in 2001, which was primarily due to large-scale redemption pressures and mismanagement, particularly in its flagship scheme, US-6412. The crisis was exacerbated by the Ketan Parekh scam, which caused a sharp decline in stock prices, leading to mutual funds, including UTI’s schemes, suffering severe consequences.{{Cite web|url=https://frontline.thehindu.com/other/article30251355.ece|title=Behind the UTI mess|date=20 July 2001|website=Frontline}}{{Cite web|url=https://www.cnbctv18.com/market/backstory-the-us-64-crisis-and-how-the-government-bailed-out-uti-investors-11939132.htm/|title=Backstory: The US-64 crisis and how the government bailed out UTI investors - CNBC TV18|date=27 December 2021|website=CNBCTV18}}{{Cite news|url=https://timesofindia.indiatimes.com/business/india-business/UTI-crisis-As-Usual-public-pays-the-price/articleshow/326220947.cms|title=UTI crisis: As Usual, public pays the price|newspaper=The Times of India |date=3 August 2001}}

The government intervened to protect investors and restructured UTI. This restructuring led to the bifurcation of UTI into two separate entities in 2003: the UTI Mutual Fund (now managed by the UTI Trustee Company Pvt. Ltd.) and the Specified Undertaking of the Unit Trust of India (SUUTI), which took over the assets and liabilities of the erstwhile UTI12. The government’s intervention included a bailout package to stabilize the situation and ensure the protection of investors’ interests.

Dewan Housing Finance Corporation Limited (DHFL) defaulted on its debt obligations in 2019. This event led to significant governance concerns and defaults by DHFL in meeting various payment obligations, prompting the Reserve Bank of India to supersede the Board of Directors of DHFL1. The default affected several mutual funds, including those managed by BNP Paribas Asset Management India Private Limited, which had to mark down the value of their investments in DHFL’s securities.{{Cite web|url=https://www.thehindubusinessline.com/markets/cci-approves-dhfls-50-stake-sale-in-pramerica-mf/article26877134.ece|title=CCI approves DHFL's 50% stake-sale in Pramerica MF|first=K. R.|last=Srivats|date=18 April 2019|website=BusinessLine}}{{Cite web|url=https://www.businesstoday.in/latest/corporate/story/dhfl-scam-fake-accounts-fraud-borrowers-used-to-transfer-funds-auditor-grant-thornton-report-274679-2020-10-05|title=DHFL scam: Fake accounts, fraud borrowers used to transfer funds, finds auditor Grant Thornton|date=5 October 2020|website=Business Today}}

The crisis deepened with rating downgrades and write-offs by mutual funds, which had a cumulative exposure of ₹5,336 crore to securities issued by DHFL3. As a result, there was a severe liquidity issue and a drop in the Net Asset Values (NAVs) of the mutual funds, impacting investors’ returns. DHFL Pramerica Mutual Fund, which was a joint venture between DHFL and Pramerica Financial, Inc., also faced challenges due to the exposure to DHFL’s debt instruments.

In 2019, Yes Bank faced severe financial stress and was eventually placed under a moratorium by the Reserve Bank of India (RBI) in March 2020. This led to significant challenges for Yes Mutual Fund, particularly its debt schemes that had exposure to Yes Bank’s securities. The crisis necessitated write-downs and affected investor confidence. Around 32 mutual fund schemes had exposure to Yes Bank’s downgraded debt papers, with a total exposure amounting to approximately ₹2,848 crore. The crisis led to write-downs of these securities and impacted the net asset values (NAVs) of the mutual funds involved, which in turn affected investor confidence.{{Cite web|url=https://www.rbi.org.in/scripts/BS_PressReleaseDisplay.aspx?prid=49479|title=Reserve Bank of India - Press Releases|website=www.rbi.org.in}}{{Cite web|url=https://www.rbi.org.in/scripts/BS_PressReleaseDisplay.aspx?prid=49476|title=Reserve Bank of India - Press Releases|website=www.rbi.org.in}}{{Cite web|url=https://www.thehindubusinessline.com/money-and-banking/financial-stress-rbi-actions-may-hit-depositor-confidence-says-yes-bank/article31073566.ece|title=Financial stress, RBI actions may hit depositor confidence, says YES Bank|date=15 March 2020|website=BusinessLine}}

In 2019, Kotak Mutual Fund did face challenges with its Fixed Maturity Plans (FMPs) due to exposure to debt securities of companies like the Essel Group. The fund house was unable to redeem investments from these companies, which led to delays and partial rollovers of the FMPs. This situation affected the investors’ expected returns. Consequently, the Securities and Exchange Board of India (SEBI) barred Kotak from launching new FMPs for six months and imposed a fine for failing to abide by regulatory requirements.{{Cite web|url=https://www.financialexpress.com/market/sebi-bars-kotak-amc-mutual-fund-from-launching-fmp-fixed-maturity-plan-debt-schemes-explained-maturity-delayed-investors-repaid-2319351/|title=Why SEBI barred Kotak from launching new FMPs: A look back at 2019; maturity delayed but investors repaid|date=28 August 2021}}

HDFC Mutual Fund did face a situation in 2018-2019 due to its exposure to companies like Essel Group and IL&FS. The credit events involving these companies led to significant mark-downs in the Net Asset Values (NAVs) of some of HDFC Mutual Fund’s debt schemes. This situation resulted in investor concerns and redemption pressures.{{Cite web|url=https://www.thehindubusinessline.com/markets/stock-markets/hdfc-mf-recovers-entire-investment-in-essel-group-ncds/article31976941.ece|title=HDFC MF recovers entire investment in Essel group NCDs|first=Suresh P.|last=Iyengar|date=3 July 2020|website=BusinessLine}}{{Cite web|url=https://www.businesstoday.in/latest/corporate/story/sebi-issues-show-cause-notices-to-hdfc-kotak-mutual-funds-on-essel-group-exposure-197263-2019-05-13|title=Sebi issues show-cause notices to HDFC, Kotak mutual funds on Essel Group exposure|date=13 May 2019|website=Business Today}}

To elaborate, the IL&FS crisis was one of the biggest financial crises in India, with the company defaulting on several of its obligations due to a cash shortfall. The debt involved was about Rs 1 lakh crore. Similarly, Essel Group companies were grappling with debt woes, which put mutual funds, including HDFC, under redemption pressure. However, HDFC Mutual Fund later recovered the entire investment made in the non-convertible debentures issued by Essel Group companies.

SEBI conducted an examination to determine whether Sahara Mutual Fund, its Asset Management Company, and its trustees were ‘fit and proper’ as per regulatory standards. This was in light of a previous SEBI order from 2011 concerning two other Sahara entities, which were directed to refund money collected through Optionally Fully Convertible Debentures (OFCDs) to investors.https://www.sebi.gov.in/sebi_data/mutualfundfile/dec-2016/saharasai.pdf {{Bare URL PDF|date=August 2024}}{{Cite web|url=https://indianexpress.com/article/business/companies/securities-appellate-tribunal-rejects-sahara-plea-against-sebi-order-on-mutual-fund-business-4771611/|title=Securities Appellate Tribunal rejects Sahara plea against Sebi order on mutual fund business|date=28 July 2017}}

In 2015, SEBI ordered the winding up of Sahara Mutual Fund’s schemes due to non-compliance with regulatory requirements. The regulatory scrutiny and legal challenges indeed led to operational difficulties and affected investor confidence in the fund house.{{Cite news|url=https://economictimes.indiatimes.com/wealth/save/sahara-sebi-refund-rs-25000-crore-of-sahara-depositors-stuck-what-is-the-consolidated-fund-of-india/articleshow/105380513.cms|title=Sahara-Sebi refund: Rs 25,000 crore of Sahara depositors stuck; What is the Consolidated Fund of India|first=Sneha|last=Kulkarni|newspaper=The Economic Times |date=21 November 2023}}https://www.sebi.gov.in/sebi_data/attachdocs/1438083387013.pdf {{Bare URL PDF|date=August 2024}}

Despite being available in the market,{{cite web | url=http://www.amfiindia.com/AmfiMonthly.aspx | title=Association of Mutual Funds, India | accessdate=4 September 2013}} a recent report on Mutual Fund Investments in India published by research and analytics firm, Boston Analytics, suggests investors are holding back from putting their money into mutual funds due to their perceived high risk and a lack of information on how mutual funds work.{{cite web | url=http://www.bostonanalytics.com/india_watch/india_watch.html | title=Boston Analytics - India Watch | accessdate=4 September 2013 | url-status=dead | archiveurl=https://web.archive.org/web/20120729020258/http://www.bostonanalytics.com/india_watch/india_watch.html | archivedate=29 July 2012 | df=dmy-all }} There are 46 Mutual Funds as of June 2013.{{cite web | url=http://www.amfiindia.com/AUMReport_Frm_Po.aspx?rpt=fwise | title=Average AUM - Fund-wise | date=June 2013 | accessdate=4 September 2013}} In 2019, Asset under management (AUM) of the mutual fund industry rose by 13% to 24 trillion in 2018 by November{{Cite web|last=PTI|first=Shilpi Pandey|date=2018-12-24|title=2019 bright for mutual funds as AUMs rise ₹3 in 2018|url=https://www.livemint.com/Money/rUhHlzdUiB6UDgPSeI7ieK/2019-bright-for-mutual-funds-as-AUMs-rise-3-tn-in-2018.html|access-date=2021-03-15|website=mint|language=en}} The total assets under management (AUM) has surged by around 23.43% in 2023. The Assets base in January 2023 was Rs.40.70lakh crores, which rose to Rs.50.24 lakh crore in Nov, 23.{{Cite news |last=Khanna |first=Surbhi |date=2024-01-08 |title=Mutual fund AUM surges by 23.43% in 2023; WhiteOak Mutual Fund AUM increase over 200% |url=https://economictimes.indiatimes.com/mf/analysis/mutual-fund-aum-surges-by-23-43-in-2023-whiteoak-mutual-fund-aum-increase-over-200/articleshow/106625820.cms |access-date=2024-03-20 |work=The Economic Times |issn=0013-0389}}

Assets under management (AUM) is a financial term denoting the market value of all the funds being managed by a financial institution (a mutual fund, hedge fund, private equity firm, venture capital firm, or brokerage house) on behalf of its clients, investors, partners, depositors, etc.

The average assets under management of all mutual funds in India for the quarter Dec 2015 to Mar 2016(in ₹ Lakh) is given below:{{cite web |url=https://www.amfiindia.com/research-information/aum-data/average-aum |title=Average AUM |publisher=Association of Mutual Funds in India|accessdate=April 6, 2016}}{{cite web |url=https://www.morningstar.in/tools/mutual-fund-amfi-average-aum-by-fund-house.aspx |title=Average AUM by AMC |publisher=Morningstar India|accessdate=July 11, 2021}} or {{cite web |url=https://www.mutualfundindia.com/mf/aum/details |title=AMC wise Quarterly Average AUM |publisher=ICRA Limited|accessdate=July 11, 2021}}

• Risk management
• Financial risk management
• 2020 stock market crash
• Satyam scandal
• Great Recession
• 2008 financial crisis
• Dot-com bubble
• 1992 Indian stock market scam
• 401(k)
• Roth IRA
• Bombay Stock Exchange
• National Stock Exchange of India

{{Reflist|2}}

• [https://www.amfiindia.com/research-information/aum-data AUM Data]
• [https://www.spglobal.com/spdji/en/documents/spiva/spiva-india-scorecard-year-end-2022.pdf S&P SPIVA® India Scorecard]

Category:Financial services companies of India

Category:1963 establishments in India