Mutual fund investments hit a record of Rs21.4 trillion in October, as falling fixed deposit rates and rising stocks encouraged more people to put money in mutual funds. Photo: iStockphotoMumbai: Mutual funds’ cash holding as a percentage of their total equity portfolio fell to the lowest in four months in October, as fund managers pumped money into a spate of public offerings. According to data from Morningstar, mutual fund cash holding at 5.5% in October is the lowest since 5.2% in June. Mutual funds’ assets under management (AUMs) hit a record of Rs21.4 trillion in October, as falling fixed deposit rates and rising stocks encouraged more people to put money in mutual funds. According to data from the Association of Mutual Funds in India (Amfi) released on Tuesday, total AUMs rose nearly 5% in October helped by strong inflows in income and equity schemes.

Source: Mint November 16, 2017 22:07 UTC