The mutual fund industry witnessed a fall in average assets in October. The latest AMFI data shows that AAUM of the MF industry was Rs.23.15 lakh crore in October 2018. It has decreased by Rs.1.16 lakh crore from Rs.24.31 lakh crore in September 2018 and by Rs.1.55 lakh crore compared to Rs.24.70 lakh crore in August 2018.
However, the monthly AUM of industry increased marginally from Rs.22.04 lakh crore in September 2018 to Rs.22.24 lakh crore.
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 decline in average AUM is due to large scale redemptions from income funds following IL&FS downgrade.
However, the industry continue to witness growth by recording higher inflows in balanced funds, arbitrage funds and equity funds through SIPs.
The total number of folios as on October 31, 2018 stood at 7.90 crore, while the number of folios under equity, ELSS and balanced schemes, wherein the maximum investment is from retail segment stood at 6.65 crore. This is 53rd consecutive month witnessing rise in the no. of folios.
