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The mutual fund industry added over 81 lakh investors in early fiscal 2025, driven by effective marketing, rising incomes, and digital accessibility. Equity-oriented schemes led the growth, while debt schemes declined

Over 81 lakh new investors join mutual fund industry in April-May

The mutual fund industry added over 81 lakh investors in early fiscal 2025, driven by effective marketing, rising incomes, and digital accessibility. Equity-oriented schemes led the growth, while debt schemes declined. The industry's assets reached Rs 59 lakh crore

<h2>The mutual fund industry added over 81 lakh investors in early fiscal 2025, driven by effective marketing, rising incomes, and digital accessibility. Equity-oriented schemes led the growth, while debt schemes declined</h2>

The mutual fund industry has added over 81 lakh new investors in the first two months of the fiscal year 2025. As per PTI, this is due to consistent marketing efforts, celebrity endorsements and dedicated work of the distribution network.
<h3>Investors surge</h3>
This surge is driven by changing perceptions about fixed deposits, which now offer less competitive returns compared to mutual funds. Trivesh D, COO of stock trading platform Tradejini, told PTI that rising income levels and easier access to financial markets have also contributed to this trend.
The outlook for mutual fund folios remains positive, supported by a bull run in the stock market, robust risk management practices, continuous investor education, and consistent marketing efforts. Experts believe that the industry will continue to grow as savers seek alternative avenues to build long-term wealth.
Abhishek Tiwari, CBO of PGIM India Mutual Fund, highlighted that as India's per capita income grows, more investors are turning to asset classes that can outperform inflation and generate wealth. This increased interest in mutual funds has led to a higher folio base.
According to the Association of Mutual Funds in India (AMFI), the industry had 18.6 crore folios at the end of May, a 4.6% increase from 17.78 crore in March. This marks an addition of over 81 lakh folios, with 45 lakh added in May alone, surpassing the average monthly addition of 22.3 lakh folios in 2023.
This growth has been fueled by effective marketing, celebrity endorsements, a strong distribution network, robust equity returns, and the ease of investing. Interestingly, Gen-Y and Gen-Z investors, who are increasingly using digital channels, are driving this surge.
The industry had 4.59 crore unique PAN and PAN-exempt KYC reference numbers as of May 2024. Equity-oriented mutual fund schemes saw the most significant increase, with 61.25 lakh new folios, bringing the total to 12.89 crore, representing 69% of all folios.
Within the equity funds category, sectoral/thematic funds saw the highest growth, followed by small and mid-cap categories. Hybrid funds added 3.31 lakh folios, with Multi Asset Funds seeing the most significant increase.
Conversely, debt scheme folios dropped by 72,940, totaling 70.92 lakh. Despite a decline in household savings since the Covid pandemic, the mutual fund industry's assets have reached Rs 59 lakh crore. As of FY23, mutual funds represented 6% of total household savings, with bank deposits remaining the largest at 35%.
PGIM's Tiwari emphasized that while mutual funds are gaining popularity for their convenience and diversification, there is still significant potential for growth.
Also watch: <a href="https://www.editorji.com/business-news/personal-finance/inflows-into-equity-mutual-funds-double-sip-contribution-hits-record-high-in-may-1718017405359#google_vignette">Inflows into equity mutual funds double, SIP contribution hits record high in May</a>

While the inflows into equity mutual funds saw 16% fall to ₹18,888 crore in April, the monthly systematic investment plan contributions hit a fresh milestone as it crossed the ₹20,000 crore mark reaching an all-time high of ₹20,371 crore in April 

Inflows into equity mutual funds declines 16% however SIP inflows hit an all-time high

<h2>While the inflows into equity mutual funds saw 16% fall to ₹18,888 crore in April, the monthly systematic investment plan contributions hit a fresh milestone as it crossed the ₹20,000 crore mark reaching an all-time high of ₹20,371 crore in April&nbsp;</h2>

Inflows into equity mutual funds fell to ₹18,888 crore in April, 16% lower than the inflows witnessed in March, according to data from the Association of Mutual Fund of India (AMFI).
<h3>Mutual Fund inflows</h3>
Within the equity segment, small-cap funds witnessed an inflow ₹2,209 crore in April as compared to an outflow of ₹94 crore in March. Inflows into Mid-cap funds also continued to rise. From ₹1018 crore in March, inflows into the category rose to ₹1793 crore in April.
Large-cap funds experienced a considerable decline in inflows, from ₹2128 crore in March to just about ₹358 crore in April. The overall decline in equity inflows was largely due to this decline in inflows into large-cap funds.
The standout category in April, was the hybrid funds where inflows reached a whopping ₹19,863 crore versus ₹5,584 crore in March.
Meanwhile, monthly systematic investment plan or SIP contributions crossed the ₹20,000 crore mark reaching an all-time high of ₹20,371 crore in April as compared to ₹19,271 crore in March.
Also watch: <a href="https://www.editorji.com/business-news/markets/over-the-years-sip-investments-surge-mutual-funds-witness-historic-growth-1712743852222">Small Cap funds see outflow for first time in 10 months; SIP flows continue to surge</a>

As per a master circular by SEBI all mutual fund investors need to the KYC with official documents by March 31. Failing to comply with the norm will result in prohibition from doing any further transaction in MFs including SIPs

Mutual Fund investors to redo their KYC by March 31 or else...

As per a master circular by SEBI all mutual fund investors need to the KYC with official documents by March 31. Failing to comply with the norm will result in prohibition from doing any further transaction in MFs including SIPs

A crucial deadline is soon approaching for mutual fund investors. March 31 is the last date for MF investors to redo their KYC in case their earlier KYC is not based on &lsquo;officially valid documents&rsquo;. Failing to do so will result in prohibiting them from doing any further transactions in any form including SIPs, SWPs, etc from April 1.
What are the Official Documents &amp; Non-Offcila Documents&nbsp;
Official documents for KYC include an Aadhaar Card, passport, and voter ID card, among others. KYCs done by Mutual fund investors based on utility bills, bank statements and other such documents are deemed non-official documents&nbsp; Why Re-do KYC now? The KYC needs to be redone as per an official master circular floated by the Securities and Exchange Board of India on KYC norms for the security market and the Prevention of Money-Laundering (Maintenance of Records) Rules, 2005.
Mutual fund investors investing through an MFD (in regular plans), will be notified by their MFD about the necessity of updating your KYC, if required. However, if you have been investing independently (in direct plans), you may not necessarily receive notification.&nbsp; How to redo KYC? The investors need to submit a KYC form along with the official documents to their respective mutual fund houses or registrar and transfer agents. Followed by this the documents are updated by KYC registration agencies and the same is reflected alongside all the Mutual Funds linked to the particular PAN 
Also Watch: <a href="https://www.editorji.com/business-news/markets/india-dominates-asian-markets-with-robust-foreign-investment-inflow-1711528038011">India dominates Asian markets with robust foreign investment inflow</a>
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In this episode of Invest Smart, Editorji's Avni Raja speaks to Feroze Azeez of Anand Rathi Wealth Management about debt investments, how fixed deposits compare to debt mutual funds, whether arbitrage funds are a good alternative and much more. 

Invest Smart: How to manage your debt investments 

In this episode of Invest Smart, Editorji's Avni Raja speaks to Feroze Azeez of Anand Rathi Wealth Management about debt investments, how fixed deposits compare to debt mutual funds, whether arbitrage funds are a good alternative and much more.&nbsp;

Beginning 1st of April 2023, all new investments into debt mutual funds are no longer eligible for any tax benefits. All returns on debt funds will be taxed according to one's income tax slab.&nbsp; In this scenario, there are a few things to keep in mind while planning your investment portfolio.&nbsp;
In this episode of Invest Smart, Editorji's Avni Raja speaks to Feroze Azeez of Anand Rathi Wealth Management about debt investments, how fixed deposits compare for debt mutual funds, whether arbitrage funds are a good alternative and much more.&nbsp;

Lok Sabha has passed the Finance Bill 2023 that proposed a big change for debt mutual funds, whereby taxation benefits including long term capital gains and indexation benefit will no longer be available. 

Finance Bill 2023: Govt does away with taxation benefits for debt funds 

Lok Sabha has passed the Finance Bill 2023 that proposed a big change for debt mutual funds, whereby taxation benefits including long term capital gains and indexation benefit will no longer be available.&nbsp;

Lok Sabha on Friday passed the Finance Bill giving effect to tax proposals without debate. The proposal to remove the capital gains tax benefit given to debt mutual fund investors is also amended. According to the amendment, debt funds not having more than 35% invested in equity shares would be taxed at the income tax slab level. It will also be treated as a short term capital gain.&nbsp;
So far, debt mutual funds are treated as long-term investments if held for more than 3 years and taxed at the rate of 20% along with indexation benefits or 10% without indexation. (Indexation benefit is where the taxes are calculated accounting for inflation). For those with a holding period of less than 3 years, they are taxed according to their tax slab.
The changes, are also applicable for gold, international equity and even domestic equity fund of funds (FoFs). This will be applicable from April 1, 2023 and therefore, investors who want to take advantage before the proposed changes come into effect can do so before year-end.
Experts say that these proposals are a big negative for the mutual fund industry which will have to overhaul their debt portfolio. Meanwhile, banks are likely to see an increase in fixed deposit flows because there will be no added benefit of investing in debt funds versus FDs.&nbsp;&nbsp;

Data from the Association of Mutual Funds of India reveal that equity fund inflows in February came in at a 9 month high of Rs 15,685 crore. On the other hand, outflows from debt funds continued in February. 

Equity mutual fund inflows at 9 month high, debt fund outflows continue

Equity fund inflows in February came in at a 9 month high of Rs 15,685 crore. On the other hand, outflows from debt funds continued in February. The category witnessed outflows of Rs 13,815 crore for the month.  

Data from the Association of Mutual Funds of India reveal that equity fund inflows in February came in at a 9 month high of Rs 15,685 crore. On the other hand, outflows from debt funds continued in February.&nbsp;

Equity mutual fund inflows continued to surge in the month of February. Data from the Association of Mutual Funds of India (AMFI) shows net inflows into equity funds stood at Rs 15,685 crore, which is around 25% higher than the 12,546 crore equity fund inflows in January. This is the highest in the past 9 months.&nbsp; Within the equity funds, small cap funds continued to see strong inflows of Rs 2,246 crore, almost similar to the figure in January. Mid cap fund flows increased to Rs 1816 crore versus Rs 1628 crore in January.&nbsp;
Meanwhile, debt mutual funds continued to see outflows. For the month of February, debt fund outflows stood at Rs 13,815 crore. This is higher than the 10,316 crore outflows in January.&nbsp;
The total Assets Under Management (AUM) shrunk slightly and stood at Rs 39.46 lakh crore in February versus Rs 39.62 lakh crore in January.&nbsp;

21 indivuduals and entities including Axis asset management company's former chief dealer have been barred by the capital markets regulator SEBI. This in the Axis mutual fund front running case. 

Axis MF front-running case: 30 Cr wrongfully gained, 21 entities banned 

Axis MF front-running case: SEBI says 30 Cr wrongfully gained, 21 entities banned 

21 indivuduals and entities including Axis asset management company's former chief dealer have been barred by the capital markets regulator SEBI. This in the Axis mutual fund front running case.&nbsp;

Capital markets regulator SEBI has passed an interim order in the Axis Mutual fund front-running case. 21 entities &amp; individuals including Viresh Joshi, the former chief dealer of Axis mutual fund, are banned from buying, selling or dealing in the securities market. As per SEBI, over 30 crore was wrongfully gained through front-running activities and has said that this amount is to be impounded.&nbsp;
SEBI has termed this a "well-crafted manipulative scheme of front running" the trades of Axis Mutual fund and that Viresh Joshi 'glaringly abused his employment as a dealer with Axis MF" taking advantage of non-public information about impending orders the AMC, for his personal gains. These illegal trades were carried out during the period September 1, 2021 and March 31, 2022.&nbsp; Joshi had the discretion to decide as to when the orders of Axis MF would be placed. The front-running of trades were executed from trading accounts of the entities and people indirectly connected to Joshi. The ill-gotten gains were then transferred to the bank account of a company, specially incorporated in Dubai on behalf of Joshi. Joshi's brother and father also went to Dubai to set up this company and were also named shareholders.&nbsp;&nbsp; The order goes on to explain how Viresh Joshi exploited the norms of social distancing during the pandemic which allowed him to use a separate dealing room and circumvent the prohibition on usage of a mobile phone while in the dealing room during trading hours.&nbsp;&nbsp;
In its interim order, SEBI says, "There are ample prima facie evidences unearthed during the investigation which visibly demonstrate the the conduct of the Noticees while indulging in front running trades has been misleading and fraudulent in nature which has violated the integrity of the market and caused fraud on the investors causing irreparable injury to the secutrites market".&nbsp; SEBI has also clarified that a number of parallel and separate proceedings involving different entities are in progress. These are at different stages of investigations. The present proceedings involve the front running of trades of Axis MF.&nbsp; Axis Mutual Fund came under the front-running allegation in 2022 and later on sacked two officials including Viresh Joshi following an internal investigation.

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