Stay informed with the latest news and updates in the personal finance industry for June 2024. From investment trends to tax reforms, this month’s developments impact your financial decisions. Discover insights on market shifts, regulatory changes, and expert advice to navigate the evolving landscape. Whether you’re planning for retirement, managing investments, or optimizing savings, staying abreast of industry updates is crucial. Join us as we delve into the key updates in personal finance landscape this month, empowering you to make informed financial decisions for a secure future.

Latest News & Updates in Personal Finance Industry – June 2024

Latest Financial News Highlights:

  • The Mutual Fund Industry experienced a notable surge in Net Assets Under Management in Apr’24, soaring to ₹57 Lakh Crore

AMFI Data unveiled that in April 2024, the AAUM of the MF Industry surged to ₹57,01,359 Crore, marking a staggering 37% year-on year increase from ₹41,52,715 Crore recorded In the corresponding period the previous year.

  • SEBI Makes Nomination Voluntary for Joint Mutual Fund Portfolios

The capital markets regulator, SEBI, announced that nomination for jointly-held mutual fund accounts is now optional, aiming to enhance the ease of conducting business.

  • GST revenue collection reached an all-time high of ₹2.10 lakh crore in April’24

GST collections surpass the significant milestone of ₹2 lakh crores in gross revenue, marking & 12.4% year-on-year growth. Net revenue (after refunds) reaches ₹1.92 lakh crore, reflecting a 15.5% year-on-year increase.

  • EPFO enrolled a net total of 14.41 lakh new members in March 2024

EPFO provisional payroll data released on May 20, 2024, shows a net addition of 14.41 lakh members in March, with 7.47 lakh new enrolments. Notably, 56.83% of these new members are aged 18-25, highlighting a surge of young, first-time job seekers joining the organized workforce. 

  • Silver recorded a high of ₹92,475 per kg in May 2024

Silver prices have started rising this year following a rally in gold prices According to MCX’s spot price index, silver has increased 26% from 73,501 per kg to a record ₹92,475 per kg.

Source: Multiple News Portals

Financial Market Performance Snapshot:

ParticularsOpenHighLowCloseChange %

Financial Performance Trends Over Various Time Horizons:

Particulars6 months1 year3 years5 years10 years

*Source: Market Data Period – 01/05/2024 to 31/05/2024

Mutual Fund Category-Wise Performance At a Glance:

Category1 Year3 Years5 Years10 Years
Equity – Contra44.6323.6121.7417.40
Equity – Dividend Yield Fund43.3422.8520.8315.42
Equity – ELSS35.0318.2317.2415.32
Equity – Flexi Cap Fund35.4817.8017.1715.24
Equity-Focused Fund33.5717.3116.4615.00
Equity – Large & Mid Cap Fund40.0820.3919.0916.39
Equity – Large Cap Fund30.5315.6515.0013.50
Equity – Mid Cap Fund49.1523.8823.2218.91
Equity – Multi Cap Fund42.8721.8120.8117.10
Equity – Small Cap Fund45.0425.1626.1920.57
Equity-Value Fund44.4721.6519.0616.38

*All Sectoral, Thematic, Index & ETF Funds excluded in the above list. Returns are not guaranteed.

These tips are brought to you by HappyWise Financial Services.

If you need any assistance with organizing your finances or want to discuss your investment options, feel free to connect through Email or Whatsapp.

Disclaimer: Some part/s may be generated/modified using GenerativeAI

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