Having long played second fiddle to their overseas counterparts in the stock market, domestic mutual funds finally seem to have come into their own. And driving this transformation is the eagerness of retail investors to invest in equities.
Equity assets managed by local mutual funds rose for the third straight month in February to a new peak of Rs 4.6 trillion, up 4.6 percent over the previous month, according to a report by broking firm Motilal Oswal Securities. Equity AUM, as a percentage of India’s market capitalization, increased 23 bps on a year-on-year (YoY) basis to 3.9 percent in the month of February, said the report.
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