Mutual Fund AAUM touches Rs 28.29 lakh crore: AMFI

The average assets under Management (AAUMs) in the mutual fund industry has touched an all-time high of Rs 28.29 lakh crore, AMFI said in its February 2020 report.

Chief Executive, Association of Mutual Funds in India (AMFI), N S Venkatesh said, continued vibrancy in monthly SIP flows stood at Rs 8,513 crore and net inflows to equity AUMs touched Rs 10,796 crore, a record high this fiscal.

"This has resulted in mutual funds AAUMs achieving an all-time high of Rs 28.29 lakh crore," he said in a statement.

The AMFI said market indices have grown year-on-year at six per cent, against 15 per cent rise in AUM in the MF industry.

"We expect continued buoyancy in SIP flows in March too though a few institutional investors may re-assess their investment strategies, given deep correction in the markets," Venkatesh said.

SIP monthly contributions have breached the Rs 8000-mark for the 15th consecutive month, he said.

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The AMFI said that ELSS schemes continued to find favour with individual investors despite the "Budget proposing alternate simplified tax structure".