The mutual fund industry has grown at a rapid pace in the past two years and assets under management are at an all-time high. There are more than 42 million folios, 8.6 million-plus systematic investment plans (SIPs) investing more than Rs.25,000 crore annually in equity funds. In the past 18 months, equity fund flows have been more than in the previous 10 years put together. Our funds have outperformed benchmark indices by a reasonable margin. We are now managing money for provident fund trusts. Well done, but the journey has only just begun.
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