Mutual fund assets reach record high of Rs7.62 lakh crore
04 Nov 2009
Assets of the mutual fund industry reached an all time high of Rs7.62 lakh crore, while the country's largest fund house Reliance MF witnessed a drop of over Rs1,400 crore in its average assets under management (AUM) at the end of October.
The industry average AUM jumped by Rs19,391 crore or 2.61 per cent, in October, which according to analysts was mainly due to increased inflows in fixed income plans.
The combined average AUM of the 36 fund houses registered a historic high of Rs7,62,301.82 crore at the end of October according to data of the Association of Mutual Funds in India (AMFI).
Reliance MF maintained its position as the country's largest fund house even on a decline of Rs1,469.51 crore in its AUM during the month which stood at Rs1,16,781.92 crore.
According to analysts Reliance MF has increased equity exposure to other portfolios and since all the investments in equities need to be mark-to-market at the month end, the AuM Of the fund house suffered a decline during October.
The assets of the country's second largest fund house HDFC MF approached closer to the Rs1 lakh crore mark with an addition of Rs2,888 crore during October.
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