 "Mutual fund equity AUM shrinks in November")
A correction in stock prices has made a dent into mutual fund equity assets in November. Equity asset under management (AUM) declined by 3.3 per cent, or Rs 16,000 crore to Rs 4.68 lakh crore over October. This is a first decline in equity AUM in nine months. However, despite the market volatility, equity MFs saw net investor inflows of Rs 9,100 crore.
Excluding redemptions, equity schemes attracted Rs 36,000 crore, 11 per cent more than the preceding month.
Industry's total AUM increased to Rs 16.5 lakh crore in November against Rs 16.29 lakh crore in the previous month. All categories of funds (except gold funds) saw positive inflows.
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