Mutual fund asset base grows 10% to Rs 11.86 lakh crore

New Delhi: Mutual fund (MF) industry's asset base has grown around 10 percent to Rs 11.86 lakh crore at the end of April from March, primarily driven by huge inflows in equity schemes and money market segment.

In fact, MFs' assets under management (AUM) hit a record Rs 12.02 lakh crore in February itself.

Fund houses are upbeat about the industry's performance for the current fiscal (2015-16) as equity markets are expected to continue their momentum, making the segment attractive, industry insiders said.

The country's 44 fund houses together saw a growth of around 10 per cent in their asset base at Rs 11,86,364 crore at the end of April 2015, according to data released by the Association of Mutual Funds in India (Amfi) on Thursday.

The AUM stood at Rs 10,82,757 crore at the end of March 31, 2015.

Market analysts attributed the growth in asset base to strong inflows in equity and 'liquid' or 'money market' segments.

In April, money market or liquid segment saw an inflow of Rs 1.01 lakh crore while equity funds witnessed an inflow of Rs 10,406 crore.