India’s mutual fund industry stands at INR24.47 trillion (US$350 billion) in assets under management (AuM) following compound annual growth rate (CAGR) in excess of 15% per year over the past decade, according to Citi.
The $350 billion AuM (as of June 2019), is divided among 44 companies. Of the leading ten mutual fund companies, eight are either partly or wholly foreign-owned, Citi said in a press statement. It added that “there are many positive economic fundamentals such as the strength of the economy and a rapidly growing high-net-worth-individuals population that make for a very compelling story.”
Citi’s India Mutual Funds Report 2019 seeks to address the size, scale, players, developments, possible future direction and intricacies of India’s mutual funds market.
At present, 44 mutual funds companies offer products and the market is evenly divided between institutional and retail investors. The latter is increasing their exposure as local stock markets perform positively.
The number of mutual funds investors stands at approximately 30 million, or less than 2% of the population.
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