Mutual funds' asset base rose to over Rs 24 lakh crore in the July-September quarter, a 14 percent surge from the year-ago period, driven by participation from retail investors.
The asset base of the industry, comprising 41 players, was Rs 23.4 lakh crore in the preceding three months, showing a growth of just 2.5 percent on quarterly basis, according to the data by Association of Mutual Funds in India.
The total asset base of all the fund houses put together was Rs 21 lakh crore in July-September 2017.
The industry has been witnessing evolved behaviour from the retail mutual fund investors, as despite the continued market volatility, the equity inflows into markets continue to be robust, experts told PTI. Further, systematic investment plans continue to be the fancy of retail investors, as it allow investors to invest in small amounts periodically, they added.
Of the 41 fund houses, 33 mutual funds witnessed growth in their asset base over last year, while eight saw decline in their asset base.
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