Mutual funds’ asset base rose to a little over Rs 24 lakh crore by November-end, an increase of 8 per cent from the preceding month, on strong inflow in liquid schemes.
According to the data published by Association of Mutual Funds in India (AMFI), the asset under management (AUM) of the industry, comprising 42 players, climbed from Rs 22.23 lakh crore at the end of October, to Rs 24.03 lakh crore in November-end.
The total asset base of all the fund houses together was Rs 22.79 lakh crore in November 2017.
The latest inflow was mainly driven by contributions from liquid funds, equity and equity-linked saving schemes.
Liquid funds attracted Rs 1.36 lakh crore, besides, Rs 8,400 crore was invested in equity as well as equity-linked saving schemes and Rs 215 crore inflow was seen in balanced funds.
Interestingly, gold exchange-traded funds (ETFs) saw a net inflow of Rs 10 crore after witnessing pull out in past several months. In contrast, income funds saw a pull out of Rs 6,518 crore.
Overall, mutual fund schemes witnessed an inflow of Rs 1.42 lakh crore in November, much higher than Rs 35,500 crore investment seen in the preceding month.