MF assets up 8.7% in Aug despite no-entry load | business | Hindustan Times
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MF assets up 8.7% in Aug despite no-entry load

business Updated: Sep 02, 2009 22:18 IST
HT Correspondent
HT Correspondent
Hindustan Times
New Delhi

Even as the no-entry load rule for mutual fund buyers became applicable on August 1, there was no visible impact of the new regulation in the first month as the average assets under management (AUM) for the industry rose significantly during the month.

AUM for the mutual fund industry rose by Rs 59,964,000 crore or 8.7 per cent in the month of August to reach an all time high of Rs 750,643 crore.

“While the retail flows have been normal, much of the money has come from the institutional investors,” said Sundeep Sikka, CEO, Reliance Mutual Fund. “It is still very early to say that there has been no impact of the new regulation.”