Ahmedabad: Driving a fresh inflow into mutual funds associated with equity and increasing the value of clean assets, the overall asset under management (AUM) for Mutual Funds (MFS) in Gujarat increased by RS 55.201 Crore at eleven months.
With this, the total AUM for MFS in Gujarat violated the sign of Crore Rs 2.5 Lakh to touch the RS 2.57 Lakh Crore in September 2021, according to data with a mutual fund association in India (AMFI).
In Gujarat, overall Aum violated the sign of the Crore RS 2 Lakh in November 2020.
Since then, AUM for Equity MFS only increased by Rs 44,440.65 Crore, driven by sustainable SIP inflows, and a new inflow by investors drawn by the return interesting.
“This might be the fastest step where Aum for mutual funds has grown in Gujarat and mostly caused by MFS equity.
While the value of investment net assets rises significantly, fresh inflows continue due to high refunds from the equity market,” said Mumukshu Desai, Director of the Company City-based financial advisor.
According to AMFI, Aum for Equity MFS stood at Rs 1.31 Lakh Crore in September.
In March this year, Aum for the Equity MFS has violated the 1 lakh rs crore sign for the first time in Gujarat.
Analysts said the planned expansion of the private sector had been stopped for the past half a year due to uncertainty of the pandemic.
“Investors have surplus funds stored in equity and debt funds.
A number of new fund offers that promise favorable returns also cause fresh investment,” Desai added.
Financial consultants connects Aum swelling to fresh inflows from SIPS and investment returns from rising shares in mutual funds.
“SIP inflows continued and this was clear with the number of new Demat accounts opened, especially by children who entered savings habits after economic uncertainty that followed the pandemic and kuncian in 2020.
Because the stock of several companies has given an unprecedented return, Experienced investors ordered profits and invested them in equity funds – mutual, “said Jayesh Vithalani, a Ahmedabad based financial consultant.
Mutual fund assets up by RS 55K-CR in Gujarat
