The asset base of India’s mutual fund (MF) industry swelled by over 6% on-month in July to Rs 27.12 lakh crore, marking the fourth straight month of gains. Overall assets under management (AUM) were last seen over the Rs 27 lakh crore level in February, before falling precipitously in March when the market witnessed a correction due to the Covid-19 pandemic and ensuing lockdown. Mark-to-market (MTM) gains in equities and firm inflows in debt funds contributed to the July increase. Continued strong interest in gold and equity exchange traded funds (ETFs) also played a role, according to CRISIL Research.
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