Good News from Mutual Funds
August 2010 seems to be a good month for the Asset management companies as the assets under management have gone up by 3.3%. In July the total assets under management was Rs 6.65 lakh crores and in August the total Assets under management is Rs 6.87 lakh crores.
HDFC mutual fund which is the second largest fund house has total assets under management of Rs 90, 178 crores and the growth was at 6.5 %. Other mutual fund companies like birla sunlife recorded a growth rate of 4.36%, UTI Mutual Fund at 3.16 %, Reliance Mutual Fund at 2.28%. Out of the 43 fund houses available in India, 10 of the fund houses have seen drop in their assets under management.
This is due to the increased participation of the retail investors. They have started investing their money in the mutual funds again. This gives a clear picture that there are more good news from our Indian economy.
But there are some concerns that have to be analyzed further. The number of folios is expected to reduce for equity funds. This data will be declared by the Association of Mutual Funds (AMFI) in September. This data is declared only twice a year. There could be not much change in the debt funds as they are also performing well when compared to the equity funds.
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