MF industry assets hit high of Rs8 trillion

MF industry assets hit high of Rs8 trillion
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First Published: Wed, Dec 02 2009. 11 02 PM IST
Updated: Wed, Dec 02 2009. 11 02 PM IST
New Delhi: The assets under management of mutual funds in the country have increased to Rs8 trillion at the end of November, mainly propelled by bulk inflow into debt schemes.
The industry’s average AUM (asset under management) grew by Rs45,071 crore, or 5.91%, in November.
The combined average AUM of the 37 fund houses hit a historic high of Rs8.08 crore crore at the end of November, the data by Association of Mutual Funds in India (AMFI) showed.
“There has been increased allocation into liquid fund under the debt fund scheme. Investments in equities have taken a hit as the stock market is at the elevated level and people are staying away from fresh investments,” Kotak Mutual Fund head fixed income and products Krishna Iyer said.
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First Published: Wed, Dec 02 2009. 11 02 PM IST