Mutual fund industry’s asset base surged by 12 per cent to a record high of Rs 16.11 lakh crore in July-September quarter helped by strong participation from retail investors and robust inflow in equity schemes.
The industry, comprising 42 active players, witnessed increase in average assets under management (AUM) to Rs 16.11 lakh crore in three months ended September 30, 2016, from the previous high of Rs 14.41 lakh crore during April-June quarter, data available with industry body Association of Mutual Fund Industry (AMFI) showed.
Among the top five players, ICICI Prudential MF led the pack with asset base of Rs 2,15,986 crore (excluding Fund of Funds) followed by HDFC MF (Rs 2,13,086 crore), Reliance MF (Rs 1,83,129 crore), Birla Sun life MF (Rs 1,68,881 crore) and SBI MF (Rs 1,31,554 crore). Growing participation from retail investors, huge inflows in equity schemes led to increase in the industry’s asset base, market experts said.