New Delhi: In the third quarter (October-December) of the current financial year 2020-21, mutual funds asset base has increased by 7.6 percent. After this increase due to the boom in the equity market, the mutual fund asset base increased to 29.71 lakh crore. According to the Association of Mutual Funds in India (AMFI), the average asset under management (AAUM) of the mutual fund industry in the second quarter July-September was Rs 27.6 lakh crore.
According to Gopal Kavalireddy, research head of FYERS, the stock market has performed well in the last three months. The Nifty 50 was up 3.15 percent in October, 12.02 percent in November and 14.9 percent in December. According to Omkeshwar Singh, Head Rank MF, Samco Securities, despite the outflow in the December 2020 quarter, the asset base grew because equity-based mutual funds grew.
At present, there are 42 AMC operational in the country, out of which four AMC’s dominates. SBI Mutual Fund, HDFC Mutual Fund, ICICI Prudential Mutual Fund and Aditya Birla Sunlife Mutual Fund hold 50 per cent of the assets in the mutual fund industry. The average AUM of these top four fund houses also registered an increase in the September quarter.