CURRENT AFFAIRS

Detailed explanation-1: -Maharashtra, New Delhi and Goa have the highest mutual fund penetration in India, thanks to the higher income levels, better literacy rates and strong inflows from corporates and high net worth individuals.

Detailed explanation-2: -The penetration of the Indian mutual fund industry is very low. India’s MF AUM to GDP ratio is significantly lower at 15.9% in March 2022, compared to the world average of 75%, shows the IPO prospectus of KFintech. In fact, India’s AUM to GDP ratio is much lower than many developed economies such as the US.

Detailed explanation-3: -Current State Of The Mutual Fund Industry In India Assets Under Management (AUM) in the mutual fund industry increased by 41% in the fiscal year 2021. The AUM was worth Rs 33.67 trillion as of June 30, 2021. The bond funds were the most appealing in fiscal 2021, with net inflows of Rs 3,299 crore.

Detailed explanation-4: -With a whopping USD 26.96 trillion in total net assets, the US mutual fund industry remained the largest in the world in 2021. The United States accounted for almost more than 40% of the global mutual fund market. The United States accounted for a quarter of the global number of mutual funds in 2021.

Detailed explanation-5: -SBI Mutual Fund Since then it has made its place as a Top AMC in India and is also known as the largest mutual fund in India. SBI Mutual Fund has 146 funds in total and as of March 2023 and holds Rs. 647064.29 Cr. of AUM.