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MFs assets falls over 6% to Rs. 7.61 trillion in July

Assets of liquid mutual funds due to huge redemption following the recent liquidity-tightening measures taken by RBI

August 12, 2013 3:01 IST | India Infoline News Service
Assets under management (AUM) of liquid mutual funds declined 21% or Rs. 453 billion to Rs 1.29 trillion in the month of July due to huge redemption following the recent liquidity-tightening measures taken by the RBI (Reserve Bank of India) to strengthen the depreciating rupee.

The Indian mutual fund industry's AUM also fell by over 6% or Rs. 506 billion to Rs. 7.61 trillion in the month of July, according to the monthly data released by the Association of Mutual Funds in India (AMFI).

Liquid funds are short-term funds which invest in risk-free short-term market instruments like treasury bills, commercial papers (CP), certificates of deposits (CD) and call money.

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