Mutual funds add Rs 3 lakh-cr to assets base in 2018, eyes more traction in new year
FirstpostNew Delhi: Mutual funds have added a whopping Rs 3 lakh crore to their asset base in 2018 and the uptrend may continue in the new year, helped by a consistent rise in the SIP flows and strong participation of retail investors despite volatile markets. “Keep in mind the quarter-end trends and the advance tax pay-out, we expect the industry AUM to close around Rs 23-23.5 lakh crore in 2018,” Kotak Mahindra Asset Management Company’s National Head Manish Mehta said. Increased geographical penetration and technology may also lead to greater participation in mutual funds in next year,” Essel Mutual Fund CIO Viral Berawala said. Fund houses have garnered over Rs 80,600 crore through SIPs –a preferred route for retail investors to invest in mutual funds as it helps them reduce market timing risk.