According to the domestic fund flows report by Morningstar India, 49 new fund offers (NFO) were made in the third quarter of fiscal year 2023–24. These NFOs raised a total of Rs 16,093 crore during the NFO period. The sectoral category saw the most open-end scheme launches with nine, followed by the index funds category with seven.
The latest statistics issued by the Association of Mutual Funds in India (AMFI) shows that in January 2024, sectoral mutual funds witnessed the largest inflows of Rs 4,805 crore, followed by smallcaps at Rs 3,257 crore and multicaps at Rs 3,038 crore. ICICI Prudential, HDFC, Tata, Nippon, and Kotak were the asset-management firms with the largest net inflows (open-end funds and ETFs) during the third quarter of fiscal 2023–2024.
As of December 2023, the aggregate assets under management (AUM) of open-end equity funds was INR 21,79,424 crores, a strong 14% increase over the previous quarter. About 43% of all open-end funds are comprised of open-end equity funds."The S&P BSE 100 TR increased by 9.7% in the quarter that concluded in December 2023, while the BSE Midcap and BSE Smallcap had increases of 13.91% and 13.61%, respectively. The aggregate assets under management (AUM) of open-end equities funds has increased by 43% in the past year," according to a Morningstar research.
In terms of weight, the AUM split is still led by the large-cap and flexi-cap categories, with roughly 15% and 13.6% of the total, respectively, and 13% going to the mid-cap category. As of December 2023, there were a total of 424 schemes under the open-end equity broad category. The sectoral/thematic category currently has the most schemes, with 149; the next biggest number is 42 in the ELSS category and 38 in the flexi-cap category.
The index funds category's assets have also grown significantly, by 8% from the previous quarter and an astounding 55% over the past year. The subcategory currently has 196 schemes and assets valued at Rs 1,99,659 crores. These comprise index funds that track stocks as well as index funds that track bonds.
