The average assets under management
of the country`s mutual fund industry dropped to Rs 7.78 lakh
crore at the end of December, much below the Rs eight-lakh
crore mark it had scaled in the previous month.
Axis AMC, a wholly-owned subsidiary of Axis Bank Ltd,
on Sunday announced that it has received the final regulatory
approval from the Securities & Exchange Board of India to
launch its mutual fund business in the country.