Equity fund assets rise 5% to Rs. 96bn in December quarter

India Infoline News Service | Mumbai |

The underlying market, represented by the CNX Nifty, gained 10% during the December quarter

Equity mutual funds’ average AUM rose 5%, or Rs 96 bn, during the December 2013 quarter – the highest quarterly increase for the category since September 2010 – to Rs 1.96 trillion, primarily due to mark to market (MTM) gains, according to CRISIL Research's note on mutual fund quarterly average AUM numbers released by AMFI for October-December 2013.

The underlying market, represented by the CNX Nifty, gained 10% during the December quarter, led by positive global sentiment, strong foreign institutional investor (FII) buying and pullback of liquidity tightening measures by the Reserve Bank of India (RBI). The rise in assets was despite net outflows in the category due to profit booking and volatility in the underlying market.
 

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