Markets and Finance
MFs log strong 19% AUM growth at Rs 32.1 trillion in March quarter

The domestic mutual fund (MF) industry has posted healthy growth in assets under management (AUM) for the quarter ended March 2021. THE average AUM for the quarter rose 19 percent to Rs 32.1 trillion from Rs 27.03 trillion in the March 2020 quarter. Average AUM for the equity segment during the March 2020 quarter had taken a hint due to the selloff caused by the pandemic. However, the growth is still an impressive 14 percent even if one compares the average AUM at the end of January 2020—before the selloff—of Rs 28.2 trillion. The growth in assets has been underpinned by a sharp up move in the market. In FY21, the benchmark Sensex rose about 70 percent its biggest yearly gain in 11 years. SBI MF has managed to cement its number one place. Its average AUM stood for the March 2021 quarter at Rs 5.04 trillion, up 35 percent year-on-year, data provided by industry body Amfi shows. The fund house has widened its lead with HDFC MF. A year ago, both fund houses were neck and neck.

News Source:- https://www.business-standard.com/article/markets/mfs-log-strong-19-aum-growth-at-rs-32-1-trillion-in-march-quarter-121040601023_1.html