Fund managers attributed the growth in asset base of mutual funds to strong inflows of around Rs 51,000 crore in debt-oriented schemes.
Assets base of mutual fund industry surpassed Rs 27 lakh crore-mark by November-end due to increase in inflows in debt-oriented schemes including banking and PSU funds, with a high exposure to highest-rated bonds.
According to Association of Mutual Funds in India (Amfi) data, there were Rs 26.33 lakh crore assets under management (AUM) in October, compared to Rs 27.04 lakh crore by November-end. The month-on-month growth was at 3 percent.
There were overall inflow of Rs 54,419 crore last month compared to Rs 1.33 lakh crore in October into mutual funds. Fund managers attributed the growth in asset base to strong inflows of around Rs 51,000 crore in debt-oriented schemes.