Mutual funds' assets under management (AUM) grew at a healthy 29.13 per cent at Rs 20.40 trillion in September, up from Rs 15.8 trillion a year ago.
On a monthly basis, however, the AUM declined to Rs 20.40 trillion from Rs 20.59 trillion a month ago, which the industry body Amfi attributed to the quarter-end phenomenon.
According to the Amfi data collated by Icra, during the past 19 quarter-end months, AUM has declined on 17 instances.
Total net outflow in September stood at Rs 16,604 crore with the maximum outflow of Rs 50,090 crore witnessed in the income category. Equity (including equity linked savings schemes or ELSS), balanced and liquid/money funds saw inflows to the tune of Rs 18,936 crore, Rs 8,141 crore and Rs 4,833 crore, respectively.