According to the Axis Mutual Funds monthly data report, total Assets Under Management (AUM) for mutual funds in July 2024 increased by 40 per cent compared to the previous year, but redemptions surged by 61 per cent during the same period.
The AUM in July 2024 increased to Rs 64,96,653 crore, from Rs 46,37,564 crore in July 2023, While redemptions in July 2023 was of Rs 18,28,851 crore, which surged by 60.68 per cent to Rs 29,38,613 crore in July 2024.
The experts cited that the surge in investments in mutual funds in the past year is due to the better returns provided by the industry.
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