In 2019, the mutual fund (MF) industry, then managing Rs 25 trillion in assets, unveiled its first ever vision document. Drawn up jointly with the Boston Consulting Group, it laid out a strategy to accelerate penetration and ramp up assets under management (AUM) to at least Rs 100 trillion by the end of 2030.
Owing to robust growth since, the industry is poised to meet this target. In the three years from 2020 through 2022, AUM has increased 50 per cent to Rs 40.7 trillion, a compound annual growth rate of 14.4 per cent. If the industry continues to grow at this pace, the goal appears within reach — although much will depend on the equity markets and, importantly, on