AUM rose ~4% in February
Bouncing back from the decline witnessed in January, assets under management (AUM) of the domestic mutual fund industry breached the Rs 31.5 lakh crore mark for the first time, settling 3.7% higher at Rs 31.6 lakh crore at end-February. The previous high recorded was at end-2020, when the asset base had settled at ~Rs 31.02 lakh crore. Inflows in the open-ended debt and hybrid categories, coupled with mark-to-market gains in the domestic equity market, were the main factor contributing to the rise in the asset base in February even as outflows from equity funds capped gains. Cumulatively, the industry’s fund flows remained negative at ~Rs 1,844 crore.
