印度共同基金市場評估：依計劃類型、類型、分銷管道、投資者類型和地區劃分的機會和預測（2018-2032）

由於人口和財富的增加，印度的共同基金產業正在經歷快速成長。投資共同基金的錢甚至可以為沒有工作的個人提供收入，這就是為什麼越來越多的人選擇投資共同基金的原因。截至2024年4月，帳戶總數為1.815億印度盧比，股權、混合和解決方案對開數量約為1.454億印度盧比，其中最大的投資來自零售領域。此外，數位化滲透、智慧城市發展和不斷提高的數據速度正在引發資產佔有率向小城鎮的轉變。透過系統投資計劃（SIP）增加的零售貢獻表明了印度的數位化水準。

投資信託資產增加：

共同基金資產的增加是由於股市的強勁表現以及股票計劃的淨流入增加。 2024 財年，國內投資信託 (MF) 管理資產增加了 34%。過去幾年，SIP 對共同基金的貢獻增加了兩倍多。個人和機構投資者都看到共同基金持有的資產價值增加。這意味著樂觀的機會有望推動共同基金市場的成長。有幾個因素正在推動共同基金資產市場的成長，包括共同基金投資的增加、數位化、政府支持以及人們越來越偏好共同基金作為財富創造工具。除了上述因素外，流動性、市場多元化、反應能力和透明度預計將在未來幾年推動市場擴張。儘管金融市場狀況不穩定，費用比率和銷售費用較高，但共同基金產業仍在不斷發展，為投資者提供了創造財富的機會。

推動市場成長的市場流動性：

流動性是指在不顯著影響資產價格的情況下快速有效地買賣資產的難易度。由於其結構和交易量，共同基金是高流動性金融市場的理想例子。共同基金通常投資不同規模的公司，規模較大的公司流動性較強。這些基金為投資者提供廣泛的高流動性資產，包括股票和債券。共同基金的流動性具有多種優勢，包括易於更換資金以及能夠靈活應對市場波動。由於高流動性和相關利益，市場預計將成長。

本報告調查了印度投資信託市場，提供了市場定義和概述、市場規模趨勢和預測、各個細分市場和地區的詳細分析、行業結構以及影響市場成長的因素分析、案例研究、競爭格局、主要公司的簡介等等。

目錄

第一章研究方法

第 2 章專案範圍與定義

第 3 章執行摘要

第 4 章顧客回饋

• 人口統計
• 市場認知度與產品訊息
• 品牌知名度與忠誠度
• 做出購買決定時考慮的因素
• 投資基礎
• 投資頻率
• 投資媒介

第五章印度投資信託市場展望

• 市場規模/預測
• 依方案類型
  • 死亡導向
  • 股權導向
  • 金融市場
  • ETF
  • 其他
• 依類型
  • 開放式結尾
  • 封閉式
• 依分銷管道
  • 銀行
  • 財務顧問
  • 直銷員
  • 其他
• 依投資者類型
  • 個人
  • 機構
• 依地區
  • 北
  • 南部
  • 東方
  • 西部/中部地區
• 市佔率：依公司劃分，2024 年

第 6 章市場地圖，2024 年

• 依方案類型
• 依類型
• 依分銷管道
• 依投資者類型
• 依地區

第七章宏觀環境與產業結構

• 需求與供給分析
• 監管框架和合規性
• 價值鏈分析
• PESTEL 分析
• 波特五力分析

第 8 章市場動態

• 生長促進因素
• 生長抑制因子（問題/限制）

第九章主要公司狀況

• 前 5 名市場領導者的競爭矩陣
• 前 5 位市場領導者的市場收入分析
• 併購/合資企業（如果適用）
• SWOT 分析（5 家參與公司）
• 專利分析（如果適用）

第十章近三年資產淨值分析

第 11 章案例研究

第十二章主要公司展望

• SBI Fund Management Limited
• ICICI Prudential Asset Management Company Limited
• HDFC Asset Management Company Limited
• Nippon Life India Asset Management Limited
• Kotak Mahindra Mutual Fund Asset Management Company Limited
• Aditya Birla Sun Life AMC Limited (ABSLAMC)
• UTI Asset Management Company Limited
• Axis Asset Management Company Limited
• DSP Asset Managers Private Limited
• Bandhan Asset Management Company Limited

第 13 章策略建議

第14章關於我們公司/免責聲明

A mutual fund is a consortium of money managed by an expert fund manager. It is a trust that collects money from many investors who share a common investment objective and invests the same in equities, bonds, money market instruments, and/or other securities. The NAV is the combined market value of the shares, bonds, and securities held by a fund on any day, after the deduction of permitted expenses and charges.

The mutual fund industry in India has experienced a surge in growth due to the increasing population and wealth of the nation. Funds invested in mutual funds can provide income for non-working individuals which has led to an increase in the number of individuals willing to invest in mutual funds. The total number of accounts as of April 2024, stood at INR 181.5 million, while the number of folios under equity, hybrid, and solution-oriented schemes, wherein the maximum investment is from the retail segment stood at about INR 145.4 million. Furthermore, the growing digital intrusion, the development of smart cities, and the improvement in data speeds have triggered the shift of asset shares towards more miniatured towns and cities. The increase in retail contribution through Systematic Investment Plans (SIPs) signifies the level of digitalization in India.

Hike in Mutual Fund Assets

The hike in mutual fund assets can be credited to the strong performance of equity markets and boosted net inflows to equity schemes. The assets managed by domestic mutual funds (MFs) rose by 34 percent during FY2024. Mutual fund SIP contributions have increased more than three-fold over the past years. Both individual and institutional investors viewed a rise in the value of their assets held by mutual funds. This implies an optimistic opportunity that is expected to stimulate the growth of the mutual fund market. Several factors, including the increase in mutual fund investments, digitalization, government assistance, and increasing favoritism for mutual funds as a wealth-generation tool impel the growth of the mutual fund assets market. The above factors, liquidity, diversification, readiness, and transparency are expected to boost market expansion in the coming years. Despite a volatile financial market environment, high expense ratios, and sales charges, the mutual fund industry continues to thrive, offering investors opportunities for wealth creation.

Market Liquidity to Drive Market Growth

Liquidity refers to the ease of buying and selling an asset quickly and efficiently without significantly impacting its price. Mutual funds are an ideal example of a highly liquid financial market due to their composition and trading volume. Mutual funds usually invest in companies of various sizes, with larger companies offering higher liquidity. Moreover, these funds provide investors with a huge range of highly liquid assets, including stocks and fixed-income securities. The liquidity of mutual funds offers several merits, such as easy fund swapping and flexibility during market volatility. As a result, the market is expected to experience growth due to its high liquidity and associated benefits.

North India to Dominate the Market Share

North is estimated for maximum growth in India mutual fund market during the forecast period. The rise is attributed to phenomenal trading activities in the region and the large presence of the equity market. As most of the investors on the stock exchange are cost-aware, they look for low-cost brokerage options that make more buyers invest in mutual funds to eliminate the brokerage commission costs. With mutual funds, buyers can individually manage and sell stocks on the stock exchange. It will increase transparency in trading activities and allow steady communication between traders. Tax efficiency, transparency, and the ability to gain access to a centralized stock exchange platform make it a profitable security option for investors.

Equity Funds to Dominate India Mutual Fund Market Share

The market share growth in the equity funds segment will be significant during the forecast period. Equity mutual funds provide investors with exposure to corporate equities. There are various types of stock funds, each with its investment strategy. For instance, growth funds focus on stocks that have the potential for significant financial gains but may not pay regular dividends. Income funds, on the other hand, invest in stocks that offer regular dividends. Index funds track specific market indices, such as the Nifty50 Index and sector funds concentrate on a specific industry sector.

Equity funds are further categorized based on the portion of investment in the mutual fund. For instance, large-cap funds invest at least 80% of their assets in equity shares of large-cap companies, which are the top 100 companies in market capitalization. These funds provide stability and the capability for respectable returns. Mid-cap funds allocate a minimum of 65% of their holdings to equity shares of mid-cap companies, offering higher volatility and the potential for better returns than large-cap funds.

Bank Dominates the Share in India Mutual Fund Market

The bank segment has the biggest market share in India mutual fund market. In an array of market conditions, banking funds are preferably viewed as a suitable long-term investment solution. Over the past years, these funds have conveyed average annualized returns of over 17%. Furthermore, by providing specialized, value-added financial services to investors and increasing their customer base, mutual fund, and insurance subsidiaries aid banks in grasping their full potential. Banks may form their subsidiaries or partner with an MF arm. Any investment account, such as an IRA, which may be opened through various financial institutions, including banks, can be used to acquire mutual funds. During the predicted time, all these elements will contribute to India Mutual Fund Market growth.

Future Market Scenario (FY2025 - FY2032)

Stream of flows, rise in retail investors' participation, and bullish market conditions have improved the assets for the small-cap mutual fund category to INR 2.43 lakh crore mark at the end of March 2024, marking an 83 percent rise compared to the previous year.

The surge in assets was complemented by a rise in the number of investors, with the number of folios adding an investor base of INR 8.1 million. These trends show that the future scenario of India mutual fund market is on the rise and will reach new boundaries.

Key Players Landscape and Outlook

India mutual fund market is highly competitive with key players such as SBI Funds Management Ltd., ICICI Prudential Asset Management Company Ltd., HDFC Asset Management Company Ltd., Nippon Life India Asset Management Limited, and many others. The market presents opportunities for growth during the forecast period, which makes the market competitive.

The growing digital intrusion, development of smart cities, and improvement in data speeds have led to an increase in retail Investors which in turn is poised to the growing mutual fund market. Investors and distributors are partnering with fintech startups to offer personalized services to investors dominating their technologies.

Table of Contents

1.Research Methodology

2.Project Scope & Definitions

3.Executive Summary

4.Voice of Customer

• 4.1.Demographics (Age/Cohort Analysis - Baby Boomers and GenX, Millennials, Gen Z; Gender; Income - Low, Mid and High; Geography; Nationality; etc.)
• 4.2.Market Awareness and Product Information
• 4.3.Brand Awareness and Loyalty
• 4.4.Factors Considered in Purchase Decision
  • 4.4.1.Mutual Fund Name
  • 4.4.2.Scheme Type
  • 4.4.3.Tenure
  • 4.4.4.Minimum Amount
  • 4.4.5.Return on Investment
  • 4.4.6.Liquidity
  • 4.4.7.Features and Reliability
• 4.5.Investment Rationale
• 4.6.Frequency of Investing
• 4.7.Medium of Investing

5.India Mutual Fund Market Outlook, FY2018-FY2032

• 5.1.Market Size & Forecast
  • 5.1.1.By Value
• 5.2.By Scheme Type
  • 5.2.1.Debt-Oriented
  • 5.2.2.Equity-Oriented
  • 5.2.3.Money Market
  • 5.2.4.ETFs
  • 5.2.5.Others
• 5.3.By Type
  • 5.3.1.Open-Ended
  • 5.3.2.Close-Ended
• 5.4.By Distribution Channel
  • 5.4.1.Banks
  • 5.4.2.Financial Advisors
  • 5.4.3.Direct Sellers
  • 5.4.4.Others
• 5.5.By Investor Type
  • 5.5.1.Individual
  • 5.5.2.Institutional
• 5.6.By Region
  • 5.6.1.North
  • 5.6.2.South
  • 5.6.3.East
  • 5.6.4.West and Central
• 5.7.By Company Market Share (%), FY2024

6.Market Mapping, FY2024

• 6.1.By Scheme Type
• 6.2.By Type
• 6.3.By Distribution Channel
• 6.4.By Investor Type
• 6.5.By Region

7.Macro Environment and Industry Structure

• 7.1.Supply Demand Analysis
• 7.2.Regulatory Framework and Compliance
  • 7.2.1.Securities & Exchange Board of India (SEBI) Guidelines and Policies
  • 7.2.2.RBI Guidelines and Policies
  • 7.2.3.Monetary and Fiscal Policies
  • 7.2.4.Taxation Policies
• 7.3.Value Chain Analysis
• 7.4.PESTEL Analysis
  • 7.4.1.Political Factors
  • 7.4.2.Economic System
  • 7.4.3.Social Implications
  • 7.4.4.Technological Advancements
  • 7.4.5.Environmental Impacts
  • 7.4.6.Legal Compliances and Regulatory Policies (Statutory Bodies Included)
• 7.5.Porter's Five Forces Analysis
  • 7.5.1.Supplier Power
  • 7.5.2.Buyer Power
  • 7.5.3.Substitution Threat
  • 7.5.4.Threat from New Entrant
  • 7.5.5.Competitive Rivalry

8.Market Dynamics

• 8.1.Growth Drivers
• 8.2.Growth Inhibitors (Challenges and Restraints)

9.Key Players Landscape

• 9.1.Competition Matrix of Top Five Market Leaders
• 9.2.Market Revenue Analysis of Top Five Market Leaders (in %, FY2024)
• 9.3.Mergers and Acquisitions/Joint Ventures (If Applicable)
• 9.4.SWOT Analysis (For Five Market Players)
• 9.5.Patent Analysis (If Applicable)

10.Past 3-year NAV Analysis

11.Case Studies

12.Key Players Outlook

• 12.1.SBI Fund Management Limited
  • 12.1.1.Company Details
  • 12.1.2.Key Management Personnel
  • 12.1.3.Products & Services
  • 12.1.4.Financials (As reported)
  • 12.1.5.Key Market Focus & Geographical Presence
  • 12.1.6.Recent Developments
• 12.2.ICICI Prudential Asset Management Company Limited
• 12.3.HDFC Asset Management Company Limited
• 12.4.Nippon Life India Asset Management Limited
• 12.5.Kotak Mahindra Mutual Fund Asset Management Company Limited
• 12.6.Aditya Birla Sun Life AMC Limited (ABSLAMC)
• 12.7.UTI Asset Management Company Limited
• 12.8.Axis Asset Management Company Limited
• 12.9.DSP Asset Managers Private Limited
• 12.10.Bandhan Asset Management Company Limited

Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work

13.Strategic Recommendations

14.About Us & Disclaimer

List of Tables

• Table 1. Pricing Analysis of Products from Key Players
• Table 2. Competition Matrix of Top 5 Market Leaders
• Table 3. Mergers & Acquisitions/ Joint Ventures (If Applicable)
• Table 4. About Us - Regions and Countries Where We Have Executed Client Projects

List of Figures

• Figure 1.India Mutual Fund Market, By Value, In USD Billion, FY2018-FY2032F
• Figure 2.India Mutual Fund Market Share (%), By Scheme Type, FY2018-FY2032F
• Figure 3.India Mutual Fund Market Share (%), By Type, FY2018-FY2032F
• Figure 4.India Mutual Fund Market Share (%), By Distribution Channel, FY2018-FY2032F
• Figure 5.India Mutual Fund Market Share (%), By Investor Type, FY2018-FY2032F
• Figure 6.India Mutual Fund Market Share (%), By Region, FY2018-FY2032F
• Figure 7.By Scheme Type Map-Market Size (USD Billion) & Growth Rate (%), FY2024
• Figure 8.By Type Map-Market Size (USD Billion) & Growth Rate (%), FY2024
• Figure 9.By Distribution Channel Map-Market Size (USD Billion) & Growth Rate (%), FY2024
• Figure 10.By Investor Type Map-Market Size (USD Billion) & Growth Rate (%), FY2024
• Figure 11.By Region Map-Market Size (USD Billion) & Growth Rate (%), FY2024