Average asset of 11 MFs rises 3% in October 2009

An increase of 3.43% in the month of October 2009 was recorded by the average asset under management (AAUM) of 11 fund houses out of 37 fund houses declared at Association of Mutual Funds in India (Amfi).

However, it is said that the data for 11 fund houses have showed an average AUM of Rs 66899.42 crore.

In addition, among the 11 fund houses the AAUM of Shinsei MF has registered highest rise of 142.60% whereas the AAUM of Sahara MF and Bharti AXA MF increased 55.08% and 14.84% respectively.

On the other hand, assets of Fortis MF and Baroda Pioneer MF recorded a decline of 5.98% and 18.30%, respectively while Axis MF posted an AAUM of Rs 1472.50 crore in October 2009 in the first month of MF business.