Average Assets Under Management (AAUM) of Indian mutual fund industry registered a notable growth since the pandemic broke-out in March 2020. AMFI data shows that MF assets grew by 49% to Rs 40.3 trillion over this period. Investors were attracted towards the attractive returns delivered by the equities and equity mutual funds. Asset management companies (AMCs) that had delivered higher returns in the past attracted more inflows, as did bank sponsored AMCs, AMCs with larger distribution network and AMCs that came out with innovative products.