In a big surge, mutual funds have added over Rs6 trillion to their asset base in 2017 and the uptrend is likely to continue in the new year, helped by a spirited promotion campaign by the industry and post-demonetisation resurgence of financial investment products.
The industry is looking at an increase of nearly 40% to the total asset under management (AUM) as the year 2017 draws to a close, after attaining a record level of Rs23 trillion at November-end itself—up from Rs16.46 trillion at the end of December 2016.