The Hindu Business Line : MF industry's assets cross Rs six lakh cr mark in May

NEW DELHI: The mutual fund industry crossed a record Rs six lakh crore-mark in assets in May, with the Reliance MF, alone accounting for over Rs one lakh crore.

The mutual fund industry's average assets under management (AAUM) grew by Rs 86,355.19 crore, or 15.66 per cent, and analysts said the increased inflows into fund houses show that investors are regaining confidence in equity schemes.

The combined average AUM of the 35 fund houses in the country increased to Rs 6,37,609.41 crore in May compared with Rs 5,51,25,422 crore in April, according to the data released by the Association of Mutual Funds in India (AMFI).

Reliance MF maintained its top position as the largest fund house in the country with Rs 14,342.17 crore or 13 per cent jump in AUM to Rs 1,02,730.16 crore at May-end. It had an AUM of Rs 88.387.98 crore at the end of April. The second-largest fund hou se, HDFC MF, gained Rs 11,525.47 crore in its AUM at Rs 75,406.10 crore.

“The market has gone up substantially and the investors are also showing interest in equity schemes. With increased inflows, the subscription is also increasing,'' Sahara Mutual Fund CEO Naresh Garg said.

ICICI Prudential and state-run UTI MF added Rs 9,500.58 crore and Rs 8,947.88 crore respectively, to their assets last month. - PTI

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