The Mutual fund industry’s total assets under management (excluding fund of funds) rose 7.24 percent to a new record high of Rs 10.59 trillion in the September quarter, boosted by a surge in equity plans and gains in short-term debt schemes. This was revealed in the data released by Crisil quoting Association of Mutual Funds in India (AMFI) numbers.
Industry assets were primarily boosted by a sharp rise in equity AUM (assets under management) besides being supported by gains in short duration debt funds, Crisil said.
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