The mutual fund assets surged by Rs 14 lakh crore or 35 per cent year-on-year to a record Rs 53.40 lakh crore in FY24, propelled by the growing participation of retail investors and buoyant equity markets. This percentage gain was the highest since fiscal 2021 when the industry had grown by 41 per cent, the Association of Mutual Funds in India (Amfi) said in its annual report. The robust gain in the industry's assets under management (AUM) was also replicated in the growth of investors in mutual funds, with the number of folios closing at a record high of 17.78 crore, adding an investor base of around 4.46 crore. Women comprised about 23 per cent of investors, while men accounted for around 77 per cent. The adoption of systematic investment plans (SIPs) continued to rise, with monthly net inflows touching about Rs 19,300 crore in March 2024. For fiscal 2024, net inflows through SIPs stood at Rs 2 lakh crore, showing increasing investor confidence and a disciplined investing ...