Asset base of equity mutual funds has surged by 35 per cent to Rs 3.56 lakh crore at the end of October from the preceding year on the back of retail investors pouring money into these schemes.
The industry's equity assets under management (AUM) rose from Rs 2.63 lakh crore in October 2014 to Rs 3.56 lakh crore last month, according to Association of Mutual Funds in India (AMFI).
In September, the asset base of equity mutual fund was at Rs 3.45 lakh crore.
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Industry experts said equity markets have delivered positive returns which attracted retail investors into such schemes.
Further, in last one year, equity schemes have witnessed a fund infusion of Rs 1.05 lakh crore.
Besides, many investors are moving away from poor performing asset classes such as gold.
Gold ETFs have seen an outflow of close to 500 crore so far in this fiscal.
Inflow in equity schemes have helped the 44 mutual funds to reach an all time high of Rs 13.24 lakh crore mark in assets under management (AUM) at the end of October.
Mutual fund is an investment vehicle with a pool of funds collected from investors to buy securities such as stocks, bonds, money market instruments and similar assets.
