Investments in MFs go past Rs 6 lakh-crore mark

Though the stock market continued its roller-coaster ride in May, the mutual fund industry managed to go past the Rs 6,00,000 crore...

Though the stock market continued its roller-coaster ride in May, the mutual fund industry managed to go past the Rs 6,00,000 crore figure in average assets under management (AUM).

According to data available from the Association of Mutual Funds in India (AMFI), the industry managed to get an additional Rs 30,576 crore in investments in the month.

HDFC Mutual Fund was at the top of the league, in terms of increase in average AUM, as it went up by Rs 4,337 crore in May. The country’s second largest fund house, ICICI Prudential, added Rs 3,352 crore to take its average AUM to Rs 59,060 crore. UTI Mutual Fund added another Rs 2,102 crore.

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Reliance Mutual Fund was again at the top in terms of AUM at Rs 98,431 crore and added Rs 2,044 crore in May.

Birla Sun Life Mutual Fund also saw a healthy growth as its average AUM went up by Rs 1,934 crore to Rs 41,423 crore last month.

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