The country's mutual fund industry regained the Rs 5,00,000 crore-mark in assets with Reliance MF maintaining its top position as its average AUM increased to nearly Rs 5,500 crore at the end of February. The mutual fund industry's total assets under management (AUM) grew by Rs 40,000 crore, or 8.8 per cent, and analysts believe it was mainly due to the inflow in fixed income plans in expectations of an interest rate cut.
The combined average AUM of the 34 fund houses in the country increased to Rs 5,00,973.37 crore in February as compared to Rs 4,60,948.99 crore in January, according to the data released by Association of Mutual Funds in India (AMFI). “Fixed income fund s were in demand in February as investors were anticipating a rate cut by the RBI and it is expected the increase in assets for mutual funds will continue in coming months due to some risk aversion creeping in,'' said DhirendraKumar, CEO, Value Research.
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