October 6, 2016 1:16:05 am
Average assets under management (AAUM) of the domestic mutual fund industry touched an all-time high level of Rs16 lakh crore in the July-September quarter. According to data from the Association of Mutual Funds in India (Amfi), assets of the top ten players rose in the quarter. Among them ICICI Prudential Asset Management Company (AMC) and HDFC AMC surpassed Rs 2 lakh crore mark in their AAUM for the said quarter.
In a report, CRISIL also stated that equity funds scaled a new high, crossing the Rs 5 lakh-crore mark to close at Rs 5.37 lakh crore led by a strong mix of inflows and mark-to-market (MTM) gains. The category rose 13.44 per cent, or by Rs 63,658 crore (record in absolute terms), during the quarter. The category has benefitted by strong positive sentiment for the asset class as seen in uninterrupted net inflows
of Rs 2.16 lakh crore since May 2014. FE
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