In 2015 mutual funds in India crossed the ` 10 trillion mark. The total assets managed by the Indian mutual fund industry grew from ` 13.43 trillion in November 2015 to ` 16.94 trillion in November 2016, registering a growth of 26.1%. SIP, the popular investment method adopted by Indian mutual fund investors crossed the 10 million mark in December 2016 standing at 12.3 million. For the period April to December 2016, the mutual fund industry has witnessed an addition of ~619,000 accounts per month in the SIP segment. The vibrant mutual fund industry in India comprises of 45 asset management companies with their average age of 13.5 years. Eight out of the sample asset management companies in India have been in operations for less than six years. A Dun&Bradstreet study of 33 asset management companies in India observed that the total income grew from ` 68.3 billion in FY15 to ` 87.0 billion in FY16 registering a growth of 27.4% and net profit grew from ` 16.3 billion in FY15 to ` 21.8 billion in FY16 registering a growth of 33.2% with an average industry profit marging of 24.5%.
Income funds continued to dominate the mutual fund space
Source: AMFI Note: Others comprises of gilt, other ETF, gold ETF, fund of fund investing overseas, and infrastructure debt fund.
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