Assets under management (AUM) of the domestic mutual fund (MF) industry touched a record high of Rs 20.6 lakh crore in August. This is nearly a fifth of the banking system deposits, which stood at Rs 106.7 lakh crore last month. In March 2014, MF assets accounted for only a tenth of the banking system deposits. The MF industry, which offers a mix of equity and debt products, has been a prime beneficiary of the improvement in and shift towards financial savings in the country.
