Mutual Funds add Rs 1.24 lakh cr to asset base in 2018 on SIP flows, strong retail participation
FirstpostThe asset under management of the industry grew by 5.54 percent or Rs 1.24 lakh crore to Rs 23.61 lakh crore at the end of December 2018, up from Rs 22.37 lakh crore at the end of December 2017, latest data available with the Association of Mutual Funds in India showed. New 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. Quantum Mutual Fund MD and CEO Jimmy Patel attributed the rise in mutual funds’ asset base in 2018 to strong participation of retail investors that continued to remain buoyant with their SIP investments despite rising crude oil prices, rupee depreciation and stock market volatility. 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.