The average assets management (AAUM) of the mutual fund (MF) industry in the financial year 2011 touched a historic level of ₹ 32.17 lakh crore as on 31 March, up from ₹ 24.70 lakh crore in the previous year, according to the annual data. In progress. Association of Mutual Funds (AMFI) in India.
Equity mutual funds saw net inflows of ₹ 9,115 crore in March, after eight consecutive months of March amid improvement in the stock market.
Excluding the multi-cap and value fund categories, all equity schemes saw an upward trajectory last month. However, investors pulled out 28 52,528 crore from debt mutual funds last month, following an investment of 1,735 crore in February, due to tax payments and other year-end commitments. Mutual funds remain the preferred investment vehicle for long-term, target-based wealth creation, as the number of unique investors in mutual fund schemes has increased from 10 to 2.28 crore in the last one year. March 31, 2021, “said NS Venkatesh, Chief Executive, AMFI.
Another attraction during the epidemic is the increasing acceptance for mutual funds from Tier 2 and Tier 3 locations during 2020-21, with mutual fund AUM rising from the top 30 cities by 54% to Rs 5,35,373 crore as on 31 March . he said.
Meanwhile, SBI Mutual Fund, a joint venture between State Bank of India and Amundi of France, said that it has become the first fund house in India to cross ₹ 5 lakh crore in AAUM.
(With PTI inputs)
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