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Indian fintech startup CRED has reached an agreement to buy mutual fund and stock investment platform Kuvera as part of an expansion into wealth management. The $6.4 billion Bengaluru ...
The Indian mutual fund market is one of the largest and fastest-growing in the world. According to the Association of Mutual Funds in India (AMFI), the assets under management (AUM) of the Indian ...
India is also experiencing a surge in the financialization of its economy, with significant growth witnessed in sectors like insurance and mutual funds. The number of mutual fund accounts is up 3 ...
Mutual fund statistics. The total Assets Under Management (AUM) of the Indian mutual fund industry as of December 31, 2023, stood at a staggering ₹ 50.78 trillion (US$610 billion). This is a significant milestone, marking over a six-fold increase compared to the ₹ 8.26 trillion (US$99 billion) recorded in December 2013.
It was incorporated on 22 August 1995, as a non-profit organisation. As of now, 44 Asset Management Companies that are registered with SEBI, are its members. Most mutual funds firms in India are its members. The organisation aims to develop the mutual funds market in India, by improving ethical and professional standards. [ 2]
A mutual fund is an investment fund that pools money from many investors to purchase securities. The term is typically used in the United States, Canada, and India, while similar structures across the globe include the SICAV in Europe ('investment company with variable capital'), and the open-ended investment company (OEIC) in the UK.
India’s largest wealth manager focused on ultra-high-net-worth individuals, 360 One WAM, has agreed to acquire popular Indian mutual fund investment app ET Money for about $44 million. Earlier ...
ET Money is an Indian fintech and wealth management platform which was founded in 2015 . [ 2] It offers a variety of financial products and services, including mutual funds, insurance, fixed deposits, NPS and SIPs. [ 3] The investments tracked and managed on the app is US$3 billion ( ₹ 22,500 crore) as of March 2022.