look news india
Mumbai: Assets under management (AUM) of the country's mutual fund industry increased by 12.30 percent in the September quarter to cross Rs 66.20 lakh crore. The percentage growth in September AUM compared to the June quarter is the highest in any quarter in the last five years.
The average AUM in the June quarter was Rs 59 trillion. Sources in the Association of Mutual Funds in India (AMFI) said the sharp increase in AUM was due to the rally in the equity market and record inflows into equity schemes of fund houses.
As a result of the stock market rally, investors invested more than Rs 75,000 crore in active equity schemes in July and August. An increase in inflow has also been seen due to the launch of new schemes.
The growth in AUM has been supported by the re-establishment of the Modi government at the Center and the encouraging budget presentation for the current financial year.
Systematic investment plans (SIP) inflows are also seen at a new high, with Rs 23547 crore transferred through SIPs in August, up from Rs 23332 crore seen in July, Amfi sources said. Also said.
Debt funds of fund houses also saw net inflows of Rs 1.60 trillion. Equity investments by fund houses are also seeing a rise due to huge inflows into the schemes, with fund houses buying equities worth Rs 2 trillion in the first half of the current financial year.
Fund houses have been net buyers of equities worth over Rs 10,000 crore every month for the last 14 months.