Average AUM of 21 MFs surge 2% in October 2009

An increase of 2.28% in the month of October 2009 was recorded by the average asset under management (AAUM) of 21 fund houses out of 37 fund houses declared at Association of Mutual Funds in India (Amfi).

However, it is said that the data for 21 fund houses have posted an average AUM of Rs 241845.70 crore.

In addition, among these fund houses, the AAUM of Shinsei MF has registered highest rise of 142.60% while the AAUM of Sahara MF and Taurus MF grew 55.08% and 40.03% respectively and AIG Global Investment Group Mutual Fund grew 20.48% in AAUM.

On the other hand, assets of 6 fund houses posted negative growth in their AAUM while Fortis MF and Baroda Pioneer MF posted a decline of 5.98% and 18.30% respectively.

Further, Fidelity Mutual Fund, Religare Mutual Fund, Deutsche Mutual Fund, and LIC Mutual Fund have recorded fall in their average assets in October 2009.