Mutual fund asset base surges 20% to Rs 23.4 trillion in Apr-Jun quarter
Mutual fund asset base rose to Rs 23.40 trillion in April-June quarter, a 20% surge from the year-ago period driven by participation from retail investors and a spirited investor awareness campaign by the industry.
The asset base of the industry, comprising 42 players, was Rs 23.05 trillion in the preceding quarter, showing a growth of just 1.5% on quarterly basis, according to the data by Association of Mutual Funds in India (Amfi).
The total asset base of all the fund houses put together was Rs 19.52 trillion in April-June 2017.
Industry experts attributed year-on-year growth to strong participation from retail investors, especially from smaller towns.
Besides, investor awareness campaigns by the industry and phenomenal growth in systematic investment plans also helped in the growth of assets under management.
"Mutual Funds Sahi Hai', the investor awareness campaign being run by Amfi under guidance from Sebi, has generated a lot of interest among potential investors, who are now looking at mutual funds as a preferred investment option," Amfi Chief Executive NS Venkatesh said.
Source: Association of Mutual Funds in India, Press Trust of India
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