In line with the buoyant stock market, the average assets under management (AAUM) of the mutual fund industry touched an all-time high of Rs.22.61 lakh crore in December 2017, shows AMFI data.
The average AUM of the MF industry has increased from Rs.21.45 lakh crore in September 2017 indicating a growth of 5.4% in a quarter.
However, the monthly AUM of industry stood at Rs.21.38 lakh crore in December 2017.
While AAUM is the average assets of the entire month, which is calculated by factoring in all working days of the month, month end AUM is the assets of the industry as of the last working day of the month.
Experts say that the growth has come largely because of higher inflows in equity funds through SIPs and mark to market gains.
The industry received equity inflows including pure equity funds, balanced funds, ELSS and equity ETFs of Rs.24,239 crore in December. This has helped equity funds to cross a milestone AUM of Rs. 10 lakh crore.
Another positive development for the industry is rising inflows through SIP. AMFI data shows that the monthly inflows in mutual funds through SIP reached an all-time high of Rs.6,222 crore. In fact, the industry mopped up close to Rs.47,000 crore in April-December through SIPs. The MF industry had added about 9.26 lakh SIP accounts each month on an average during the first nine months of FY 2017-18, with an average SIP ticket size of about Rs.3,300.
