Industry update: MF sales hit by abolition of entry load
Industry update: MF sales hit by abolition of entry load
Mutual Funds (MF) see 9% growth in assets, the MF industry breached the Rs7-lakh-crore mark in assets in August 2009. The industry’s total assets under management (AUM) grew by Rs59,965.79 crore, or 8.69%, during the month.
At the end of August, investors poured in funds worth Rs32,673 crore, down from Rs123,679 crore at the end of July. The equity funds investing in stocks saw net outflow of Rs142 crore. Investments in MFs had slumped substantially in August, with the industry witnessing a net fund inflow of over Rs32,600 crore, a 74% decline on a month-on-month basis.
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