Mutual funds' asset base rose to Rs 22.23 lakh crore by October-end, a slight increase of 1 per cent from the preceding month, as the industry showed resilience despite the recent market events like IL&FS default.

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According to Amfi data, the asset under management (AUM) of the industry, comprising 42 players, was Rs 22.04 lakh crore at the end of September.

The total asset base of all the fund houses put together was Rs 21.41 lakh crore in October last year.

"The industry showed resilience despite recent market events and the ensuing volatility in both debt and equity segments," Association of Mutual Funds in India (Amfi) Chief Executive NS Venkatesh said.

He further said that retail inflows showed a healthy improvement of almost 30 per cent over the last month.

Besides, systematic investment plans (SIPs) continued to show an upward trend with contribution of Rs 7,985 crore last month as against Rs 7,727 crore in September.

Overall, the industry has witnessed an inflow of Rs 35,529 crore last month as against an outflow of Rs 2.3 lakh crore in September, which market participants attributed to nervousness among corporate investors following the IL&FS default.

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Of the total inflow, equity has seen an infusion of nearly Rs 14,800 crore, however, income funds witnessed an outflow of over Rs 37,600 crore.