Equity funds scaled a new high in terms of asset, crossing the Rs 5 lakh crore mark to close at Rs 5.37 lakh crore at the end of September quarter, led by a strong mix of inflows and mark-to-market (MTM) gains.
The category rose 13.44 per cent, or by Rs 63,658 crore (record in absolute terms), during the quarter.
The category reported Rs 15,026 crore inflows in July-August 2016 vis-à-vis Rs 14,973 crore in the previous quarter, while the underlying asset class (represented by the Nifty 50) gained 3.90 per cent in the quarter.
The category has benefitted by strong positive sentiment for the asset class as seen in uninterrupted net inflows of Rs 2.16 lakh crore since May 2014.
The mutual fund industry’s average assets under management (AUM) hit a historic high of Rs 16.11 lakh crore (excluding fund of funds) in the quarter ended September 2016, according to numbers released by the Association of Mutual Funds in India (Amfi).
The industry gained a record Rs 1.70 lakh crore or 11.78 per cent during the quarter led by rise in assets of equity and short-maturity debt funds.