The financial year 2017-18 started on a positive note for India as it is expected that the mutual fund industry may hit Rs 20 lakh crore-mark in Assets Under Management (AUM) in June.
Indian MF industry has grown from Rs 17.54 lakh crore in March 2017 to Rs 19.26 lakh crore in April 2017, according to Association of Mutual Funds in India’s (AMFI) data.
AMFI further added that investment by the MF players in the equity market has surpassed that of foreign institutional investors. Talking about AMFI, it is a nodal association of mutual funds across India.
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The investors pumped in Rs 1.5 trillion in liquid, income and equity funds in April saw the highest inflows, it said. These three categories saw net inflows of Rs 0.99 trillion, Rs 0.35 trillion and Rs 0.09 trillion, respectively.
Equity funds also got support from the broader market rally as the BSE Sensex hit an all-time high of 30,000 in April.
Equity funds (including ELSS) witnessed net inflows of Rs 9,429 crore in April, an increase of 14.8 per cent MoM and 112.5 per cent YoY. This comes on top of over Rs 70,000 crore investments in equities in the fiscal 2017.
With inputs from PTI.