New Delhi: The asset base of country's mutual fund industry declined by more than 2 per cent to Rs 12.95 lakh crore in November due to outflow from liquid or money market segment.
India's 44 fund houses together had average asset under management (AUM) of Rs 13.24 lakh crore in October, which was the all-time high, the latest data of Association of Mutual Funds in India (AMFI) showed.
Industry experts said the decline in monthly AUM is largely on account of outflow in money market or liquid category.
Overall mutual fund schemes witnessed an outflow of Rs 31,196 crore at the end of November, compared with a staggering inflow of Rs 1.35 lakh crore at the October-end.
Of this, liquid or money market category saw Rs 42,059 crore coming out, while Gold ETFs witnessed an outflow of Rs 40 crore.
MFs are investment vehicles made up of a pool of funds collected from a large number of investors and invest in stocks, bonds and money market instruments, among others.
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