Over 50% parents fear cyberbully…

New Delhi:  While 40 per …

As Maharashtra makes big mining …

Etapalli and Bhamragad ta…

Know your civic rights, in a fun…

New Delhi:  How well do y…

Obama makes farewell call to Mod…

New Delhi:  Hours before …

Stop crashes on Mumbai-Pune Expr…

Mumbai:  Renowned social …

Over 80% Indian youngsters use s…

New Delhi: More than eigh…

We will set rules, not you: US m…

Washington:  The American…

Learning outcomes to become enfo…

New Delhi:  Union HRD Min…

Congress demands RBI Governor's …

New Delhi:  The Congress …

Mobile screen-recorded short fil…

Kochi:  A 90-second-long …

«
»
TwitterFacebookPinterestGoogle+

`Indian mutual fund industry soon to touch Rs 20 lakh crore’

Facebooktwittergoogle_plusredditpinterestlinkedinmail

Chennai:  The assets under management (AUM) of the Indian mutual industry are expected to touch Rs 20 lakh crore soon, said a top official of Reliance Nippon Life Asset Management Ltd. (Reliance Mutual Fund).

The AUM of the mutual fund industry touches Rs 16.93 lakh crore at the end of quarter October-December 2016, up from Rs 16.10 lakh crore at the end of the previous quarter July-September 2016.

“As more and more money enters the banking system, we see a clear surge in investments within capital markets, especially MF (mutual funds) and debt instruments. We are quite confident of the MF industry touching Rs 20 lakh crore sooner than expected,” said Sundeep Sikka, Executive Director and Chief Executive Officer, Reliance Mutual Fund.

According to him, Reliance Mutual Fund outperformed the industry, adding Rs 12,717 crore to its AUM during October-December 2016 and narrowing the gap between itself and the two other top players-ICICI Prudential Mutual Fund and HDFC Mutual Fund.

IANS

Leave a Reply

Your email address will not be published. Required fields are marked *

CAPTCHA Image

*

Sections

Shows

Other News

About Us

Follow Us