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AUM in equity mutual funds at 13-month high

AHMEDABAD: As the stock markets showed sure sentiments during the last month and a half, traders appear to be returning to equity-based mutual finances. In March, the entire belongings beneath management (AUM) in equity-based investments in Gujarat grew significantly by way of 5.67%, to Rs 71,330.7 crore in opposition to Rs 67,501.4 crore in February, consistent with knowledge by way of Association of Mutual Funds in India (AMFI).

In truth, the growth in AUM remaining month was at a 13-month high after 5.99% enlargement in January 2018, when AUM in equity-based mutual finances stood at Rs 65,690.3 crore.

Experts say that the growth in AUM in equity-based mutual finances is not as a result of contemporary investments but as an alternative, the valuation of present investments went up on account of bullish stock marketplace indices.

“Except for inflows coming in from systematic investment plan (SIPs), there's no major contemporary investment. Instead valuation of present investments went up driving on sure marketplace sentiments,” mentioned Mumukshu Desai, co-founder of a city-based monetary advisory company.

Explaining the reason at the back of emerging indices in the stock marketplace, Jayesh Vithalani, a city-based monetary consultant, mentioned, “The past month and a half has noticed large inflows from overseas institutional traders into the stock markets. FIIs have pumped in finances value Rs 50,000 crore into the stock markets, because of which the marketplace sentiment has improved.”

According to AMFI knowledge, the full AUM in Gujarat has also larger significantly. The overall AUM in Gujarat stood at Rs 1.75 lakh crore in March, which grew by way of 3.32% from Rs 1.69 lakh crore in February.

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