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Guj: AUM in equity mutual funds at 13-mnth high

AHMEDABAD: As the stock markets showed positive sentiments during the last month and a part, investors seem to be returning to equity-based mutual price range. In March, the total property underneath control (AUM) in equity-based investments in Gujarat grew significantly by five.67%, to Rs 71,330.7 crore in opposition to Rs 67,501.4 crore in February, in keeping with information by Association of Mutual Funds in India (AMFI).

In reality, the growth in AUM last month used to be at a 13-month top after five.99% expansion in January 2018, when AUM in equity-based mutual price range stood at Rs 65,690.3 crore.

Experts say that the growth in AUM in equity-based mutual price range is not on account of fresh investments however as an alternative, the valuation of existing investments went up as a result of bullish stock market indices.

“Except for inflows coming in from systematic investment plan (SIPs), there's no major fresh investment. Instead valuation of existing investments went up driving on positive market sentiments,” said Mumukshu Desai, co-founder of a city-based monetary advisory firm.

Explaining the rationale at the back of emerging indices within the stock market, Jayesh Vithalani, a city-based monetary guide, said, “The previous month and a part has seen massive inflows from international institutional investors into the stock markets. FIIs have pumped in price range price Rs 50,000 crore into the stock markets, due to which the market sentiment has improved.”

According to AMFI information, the entire AUM in Gujarat has also larger significantly. The total AUM in Gujarat stood at Rs 1.75 lakh crore in March, which grew by 3.32% from Rs 1.69 lakh crore in February.

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