Mutual Funds assets base hits fresh high of Rs 16.3 trillion in October

Mutual fund industry's asset base rose to an all-time high of Rs 16.3 trillion at the end of October, helped by strong inflow in income and equity segments.

The industry, comprising 42 active players, had an average assets under management of over Rs 15.8 lakh crore at September-end as against Rs 16.28 lakh crore in October, the latest data of the Association of Mutual Funds in India (AMFI) showed.

The previous high was Rs 16.11 lakh crore at the end of July-September quarter.

Industry experts attributed the monthly rise in assets base to inflow in income and equity categories. Besides, buoyant investor sentiment also helped in the growth of the assets under management, they added.

Overall inflow in mutual fund schemes stood at Rs 32,334 crore at the end of last month compared to Rs 16,071 crore at September-end.

Of this, income funds, which invests in a combination of government securities, saw an inflow of Rs 52,125 crore, while equity and equity-linked saving schemes witnessed an infusion of Rs 9,394 crore.

However, liquid fund witnessed a pull out of over Rs 34,813 crore during the period under review.

Mutual funds are investment vehicles made up of a pool of funds collected from a large number of investors and invest in stocks, bonds and money market instruments.