Mutual fund assets top Rs300,000 crore for first time
04 Sep 2006
Mumbai: The Indian mutual fund industry crossed yet another landmark at the end of August, with total assets under management (AuM) crossing the Rs300,000 crore-mark for the first time.
Total AuM of the industry amounted to Rs3,06,991 crore in August, according to the Association of Mutual Funds in India (AMFI). Interestingly, UTI Mutual Fund managed to get back the top from where it had been it had been dislodged by ICICI Mutual Fund in May.
UTI MF's AuM rose by 13.1 per cent (orRs4,069 crore) in August, touching Rs35,027 crore. ICICI MF saw an 8.5 per cent AuM growth, which went up to Rs34,118 crore.
Total AuMs expanded by Rs16,565 crore during the month, as the equity markets rallied and several investors ploughed money into fixed maturity plans. The Sensex gained by nearly nine per