MFs’ share in total institutional equity hits a record
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ET Intelligence Group: Dalal Street has now acquired a distinct desi flavour, illustrating the power - and allure - of equity for the ordinary Indian saver. It's no wonder, therefore, the share of domestic mutual funds in the overall institutional equity assets under management (AUM) reached a record high. Data from NSDL showed Indian domestic funds' share of total institutional equity rose 224 basis points to 20.89% as of June 2024. This increase is the highest among all institutional categories, marking the fifth consecutive month of expansion for local funds in total institutional equities. The growth in mutual funds' AUM is highlighted by the fact that the expansion in other institutional categories is only a fraction of mutual funds' gains. Institutional funds currently hold approximately 44% of India's total market capitalization, with promoters holding 51% and the remainder owned directly by retail investors. Th...