Mutual funds asset base rises 7.6% in Dec qtr
The surge in asset base comes on the back of excellent stock market performances over the last 3 months, with Nifty 50 rising by 3.15 per cent in October, 12.02 per cent in November and 14.9 per cent in December
New Delhi: Mutual funds’ asset base rose by 7.6 per cent to 29.71 lakh crore in the quarter ended December, mainly on account of the rally in equity markets. The average asset under management (AAUM) of the industry, comprising 45 players, was at Rs 27.6 lakh crore in July-September quarter, according to data by Association of Mutual Funds in India (Amfi). The AAUM of December quarter is higher compared to the preceding quarter due to surge in equity markets.
The surge in asset base comes on the back of excellent stock market performances over the last 3 months, with Nifty 50 rising by 3.15 per cent in October, 12.02 per cent in November and 14.9 per cent in December, Gopal Kavalireddi, Head of Research at FYERS said. “The increase is quarterly asset base is majorly due to mark to market gains in equity-oriented mutual funds. Markets being at an all-time high has resulted in this, although there have been net outflows in this quarter,” said Omkeshwar Singh, Head RankMF at Samco Securities.
