In an irony of sorts, foreign players have begun cashing out in a big way from the Indian mutual fund industry when its total asset base is fast nearing Rs 15-lakh crore mark and fund houses are upbeat about future growth prospects with retail investors joining the party.
As the year 2015 draws to a close, data shows that total Asset Under Management (AUM) of the mutual fund industry crossed Rs 13.5 lakh crore mark for the first time, while more than 50 lakh new investor accounts have been added this year.
The performance stands out even better when seen in the context of the equities market not performing so well.
The industry is hopeful of trebling its AUM to around Rs 40 trillion over the next three years.
