MF industry assets breach Rs 8 lakh crore.

Press Trust of IndiaNEW DELHI, 2 JUNE: The assets under management (AUM) of the mutual fund industry grew by over four per cent in May to cross the Rs 8 lakh-crore mark and attain a six-month high. The industry's average AUM grew by Rs 34,393.67 crore, or 4.47 per cent, in May. The combined average AUM of the 37 fund houses stood at Rs 8,03,559.06 crore. The last time the industry saw this record level of average AUM was in last November, when the assets hit an all-time high of Rs 8.07 lakh crore, data by the Association of Mutual Funds in India (AMFI) showed. Over May, Reliance MF, the largest fund house, saw an addition of Rs 7,154 crore to its average assets at Rs 1.19 lakh crore. …