The Mutual Fund (MF) industry in India month-end?assets under management (AUM) crossed the Rs 7 lakh crore mark in July after a year. The industry's assets had topped Rs 7.28 lakh crore in July 2011.
AUMs rose 6% month-onmonth or around Rs 41,500 crore to Rs 7.3 lakh crore in July mainly on the back of strong inflows in income and liquid funds. Income funds logged the highest inflows in the last 15 months with AUMs rising for the fourth consecutive month in July. The category witnessed inflows of about Rs 21,700 crore during the month. The category's AUM increased 7.4% month-onmonth in July to around Rs 3.4 lakh crore, data with the Association of Mutual Funds in India (Amfi) showed.
The inflows were on account of?fixed maturity plan (FMP) new fund offers (NFOs) as well as inflows into dynamic bond funds, short-term income funds and ultra shortterm debt funds. FMPs continued to garner the majority of the NFOs as investors continue to lock into the prevailing high yields in the market.
Read more about Mutual Funds in India and how to analyze mutual fund schemes
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