Mutual funds close FY19 with 11.41% rise in AUM at Rs 23.8 trillion

Mutual funds closed the year with an 11.41 per cent rise in their total assets under management at Rs 23.80 trn in the year to March, from Rs 21.36 trn in the previous year, according to the industry data released Wednesday.

On a monthly basis, AUM grew 2.73 per cent from Rs 23.16 trn in February.

"Increase in net inflows in equity and income categories as against net outflows in the previous month led to the growth in AUM on a yearly basis," according to the Association of Mutual Fund Industry (AMFI) data collated by rating agency Icra.

The industry saw net outflows