The mutual fund industry in India began in 1963 with the establishment of the Unit Trust of India (UTI), which was initiated by the Government of India and the Reserve Bank of India (RBI). The first fund launched by UTI was the Unit Scheme 1964 (US-64), which became immensely popular and attracted millions of investors over the years.

In 1987, the mutual fund industry opened up to public sector banks and institutions. The State Bank of India (SBI) launched its mutual fund, becoming the first non-UTI mutual fund, which expanded access to retail investors. 

1991 saw the economic liberalization schemes and led to the introduction of private sector mutual funds. This period saw increased competition and innovation within the industry, allowing for a broader range of investment options. SEBI was established in 1992 as a regulatory authority for the securities market, including mutual funds, enhancing investor protection and market integrity.

By early 2003, the mutual fund industry had grown to include 33 schemes with a total Assets Under Management (AUM) of approximately ₹1.22 lakh crore, reflecting significant growth since its inception. By 2014, the AUM crossed ₹10 lakh crore signalling a resurgence in investor interest and participation in mutual funds, particularly through Systematic Investment Plans (SIPs).

2020 saw another AUM milestone surpassing ₹30 lakh crore. As of September 2023, the mutual fund industry’s AUM reached approximately ₹46.58 trillion, reflecting over sixfold growth from ₹7.46 trillion in September 2013 and highlighting the industry's robust development over recent years.

Today the industry is a thriving ecosystem with around 44 asset management companies.

Prashanth Jogimutt (ARN 165858) AMFI Registered Mutual Fund Distributor

Mutual Fund Investment are subject to market risks; read all scheme related documents carefully before investing.

The information contained herein does not constitute; and should not be construed as investment advice or a recommendation to buy; sell; or otherwise transact in any security or investment product or an invitation; offer or solicitation to engage in any investment activity. It is strongly recommended that you seek professional investment advice before taking any investment decision. Any investment decision that you take should be based on an assessment of your risks in consultation with your investment advisor. 

To the extent that any information is regarding the past performance of securities or investment products; please note that such information is not a reliable indicator of future performance and should not be relied upon as a basis for investment decision. Past performance does not guarantee future performance and the value of investments and income from them can fall as well as rise. No investment strategy is without risk and markets influence investment performance. Investment markets and conditions can change rapidly; and investors may not get back the amount originally invested and may lose all of their investment