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Assets Under management as on 31st July 2010 |
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| Assets Under management as on 31st July 2010
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| Assets under management of Mutual Fund industry fell 6.09% to Rs 6,68,605 crores in July 2010 as compared with Rs 6,30,185 crores in June 2010. This has been the third consecutive month the industry has faced fall in total assets. Money pulled out by banks in June-end was not invested due to liquidity crunch.Liquidity crunch continued to take a toll on the domestic fund market in July. Despite being the first month of the September quarter, the 40-player mutual fund industry could not manage inflows.Except Reliance Mutual Fund, all other top players saw a decline in assets. ICICI MF was hit the hardest, as its assets fell almost 7%. This was followed by UTI MF, whose AAUM declined 3.47%. The assets of HDFC MF and Birla Sun Life MF were down by almost 2.5% cent each in the month.The MF industry’s net outflow was at Rs 31,654 crore in July, as against net outflow of Rs 1,19,449 crores in June 2010.
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