Buoyant equities, coupled with strong systematic inflows, pushed assets under management (AUM) of top listed asset management companies (AMCs) higher, leading to an average revenue growth of 28.6% on a year-on-year basis in the June quarter. This also resulted in brokerage houses raising target prices and earnings estimates for FY25 and FY26.
The average AUM of the mutual fund industry grew 9% to Rs 59 lakh crore in the June quarter, according to data from the Association of Mutual Funds in India. This was the second consecutive quarter of strong growth, supported by the rally in the equity markets and robust inflows through the systematic investment plan (SIP) route.
