3.1.1 Franklin Templeton fiasco
In April 2020, Franklin Templeton India wound up six credit funds worth $4 billion due to liquidity issues[6].
Mutual fund statistics
The total AUM of the Indian mutual fund industry as of December 31, 2023, stood at ₹50.78 trillion (US$600 billion)[1].
According to SEBI, during FY 2022–23, 73% of mutual fund units were redeemed within 2 years[2].
Mutual fund category breakup
- Equity funds: ₹20.33 lakh crore (US$240 billion)[3]
- Hybrid funds: ₹6.90 lakh crore (US$82 billion)[4]
- Debt funds: ₹11.97 trillion (US$140 billion)[5]
Controversies
3.1.2 Reliance Mutual Fund
In 2019, Reliance MF faced a liquidity crisis due to exposure to DHFL[7].
3.1.3 IL&FS crisis
The 2018 IL&FS default led to NAV markdowns and investor losses across several mutual funds[8].
Mutual Fund Acquisitions
| Seller | Acquired By | Year |
|---|---|---|
| Zurich India AMC | HDFC MF | 2003 |
| Benchmark MF | Goldman Sachs | 2011 |
| Reliance MF | Nippon India | 2019 |
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