Equity MF assets at record high in April-June

After logging the first fall in 10 quarters during January-March, the assets managed by equity mutual funds (MFs) jumped to a record high for the quarter ending June. The average assets under management (AUM) of equity MFs surged about 7.6% quarter-on-quarter (q-o-q) or by Rs 33,418 crore to Rs 4.74 lakh crore during April-June on the back of a strong showing by the capital markets amid robust inflows into schemes.

Banking, small-cap and mid-cap indices were among those that posted strong double digit growth during the period. The consumer goods index was the best performer during April-June soaring by about 18% and was followed by the banking index that jumped over 12%.

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