In India, the mutual fund market is expanding at an exponential rate. As of February 28, 2019, the Indian mutual fund sector had an average asset under management (AAUM) of Rs. 23.16 trillion.
The average Assets Under Management (AAUM) of the Indian Mutual Fund Industry for October 2022 stood at ₹ 39,53,209 crore.
Assets Under Management (AUM) of the Indian Mutual Fund Industry as on October 31, 2022, stood at ₹ 39,50,323 crore. In India, a good amount of people are shifting to mutual funds
In about 5 to 6 years, API leadership will dominate the mutual fund industry in India. As a standard practice, consumers will favor purchasing from aggregators.
Furthermore, innovation sandboxes could assist emerging finance businesses in developing customer-focused aggregator products.
Let us first understand,
What are Mutual funds?
A mutual fund is a type of investment vehicle that collects money from numerous participants and invests it in various asset types, including gold, foreign securities, debt, and equity.
In India, mutual funds are getting popular because they offer many advantages.
Due to their simplicity, adaptability, and advantages in terms of diversification, mutual funds are popular options among investors.
The best thing about mutual funds is that they offer a variety of investors the chance to invest. There are currently over 44 registered mutual fund companies in India that offer various programs to meet the shifting needs of many investors.
Top 20 companies that offer Mutual funds in 2022:
- NJ Indian west
- ICICI Securities
- State bank of India
- Paytm Money
- ICICI bank
- Axis Bank
- Prudent Corporate Advisory services
- ET Money
- Korak Mahindra Bank
- HDFC bank
- HDFC Securities
- Jio Jeet GIT
- BNP Paribas Financial Services
- Wealth India Financial Services
- Zerodha Broking
- Motilal Oswal Financial Services
- City Bank N. A.
Investing directly in equity markets is a risk that not everyone is comfortable accepting, so mutual funds provide an alternative for stock market enthusiasts who do not have the necessary knowledge to buy shares offered by various companies.