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New Delhi, Sept 28 The mutual funds assets will grow annually at 30 per cent in next three years to touch a level of Rs 9.50 lakh crore from Rs 4.67 lakh crore in July, according to The Associated Chambers of Commerce and Industry of India.

In view of growing awakening and certainties prevailing in MF industry, its market penetration would more than double by 2010 from about four per cent now as gradually mutual funds are becoming preferred savings instrument for urban and rural folks.

Between 1999 and 2007, the industry grew at over 25 per cent annually and the trend will improve further as investors, particularly retail ones, are choosing a good chunk of their savings volumes towards MF.

It is because of this and other supportive favourable conditions, the MF industry will grow and touch the projected level of Rs 9.50 lakh crore by 2010.

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AUM to touch Rs 9.50 lakh cr in 3 years

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