Mutual fund industry's asset base surged by 12 per cent to a record high of Rs 16.11 lakh crore in July-September quarter helped by strong participation from retail investors and robust inflow in equity schemes.
The industry, comprising 42 active players, witnessed increase in average assets under management (AUM) to Rs 16.11 lakh crore in three months ended September 30, 2016, from the previous high of Rs 14.41 lakh crore during April-June quarter, data available with industry body Association of Mutual Fund Industry (AMFI) showed.
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