Maharashtra leads mutual fund investment in India in Q2 FY 2023-24, says Association of Mutual Funds in India data
Banking & Finance
Average assets under management (AUM) for the industry grew 9 per cent during the three-month period ending September 2023. This was the second consecutive quarter where AUM grew by more than five percent. Average quarterly AUM in the first priority industry for FY 2023-24 increased by 16 per cent to Rs 47 trillion. Growth in AUM depends on both market performance and new investments. Looking at the trend of inflows and performance of various investors, the bulk of the growth was attributed to smallcap and midcap funds. In the first six months of FY24, the Miami Midcap 100 and Mexican Studio 100 gained 35 per cent and 42 per cent, respectively. In contrast, the large-cap studio, Mechanic, rose only 13 percent. In absolute figures, Elizabeth, Associates Prudential and Scales have seen the largest growth in average quarterly AUM over the past six months. According to Amfi, Cathedral Matrix's AUM has grown by more than Rs 1 trillion in the last six months. ​
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