Photo: MintNew Delhi: Mutual funds have added a staggering Rs 1.24 lakh crore to their asset base in 2018 assisted by consistent increase in SIP flows and a robust participation of retail investors despite volatile markets. The industry saw a surge of 32 per cent in the AUM or an addition of over Rs 5.4 lakh crore in 2017. The IL&FS default and the consequent blow to the NBFC sector because of the credit crunch, exposed mutual funds to ill-liquid debt funds worth lakhs of crores. In addition, markets regulator Sebi’s efforts on investor education as well as Amfi’s ‘Mutual Fund Sahi Hai’ campaign also helped the industry, he added. “Increased geographical penetration and technology may also lead to greater participation in MFs,” Essel Mutual Fund CIO Viral Berawala said.

Source: Mint January 06, 2019 11:15 UTC