Mutual Fund Industry AUM Touches Rs 7.93 Lakh Crore in Nov 2012: Crisil

Credit Rating Information Services of India Limited (CRISIL) reveals that the Assets Under Management (AUM) of Indian mutual fund industry grew by 3.25% (Rs 25,000 crore) to Rs 7.93 lakh crore in November. According to Crisil, this is the highest month-end assets for mutual fund industry since April 2010.

The rise in AUM is due to the inflows into the money market funds. The agency says that, equity fund’s AUM rose by 3.5% from Rs 6,500 crore to Rs 1.90 lakh crore despite the outflows in the month. Companies invest their short-term investments in this category during the quarter and withdraw their money at the end of the quarter. Thus, there will be cyclic flow of money in the category.

Source: The Financial Express