Mutual Fund AAUM touches Rs 28.29 lakh crore: AMFI

Kolkata, Mar 11 () The average assets undermanagement (AAUMs) in the mutual fund industry has touched anall-time high of Rs 28.29 lakh crore, AMFI said in itsFebruary 2020 report.

Chief Executive, Association of Mutual Funds in India(AMFI), N S Venkatesh said, continued vibrancy in monthly SIPflows stood at Rs 8,513 crore and net inflows to equity AUMstouched Rs 10,796 crore, a record high this fiscal.

"This has resulted in mutual funds AAUMs achieving anall-time high of Rs 28.29 lakh crore," he said in a statement.

The AMFI said market indices have grown year-on-yearat six per cent, against 15 per cent rise in AUM in the MFindustry.

"We expect continued buoyancy in SIP flows in Marchtoo though a few institutional investors may re-assess theirinvestment strategies, given deep correction in the markets,"Venkatesh said.

SIP monthly contributions have breached theRs 8000-mark for the 15th consecutive month, he said.

The AMFI said that ELSS schemes continued to findfavour with individual investors despite the "Budget proposingalternate simplified tax structure". dcMM MM