Thanks to the across the board net outflows during the month that industry could not maintain its high AUM growth trajectory. It was in April, that the sector surpassed the 8 lakh crore mark and reached as high as to 8.68 lakh crore in May.
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Barring the Gilt funds, all other categories - be it income, money market funds, diversified equity funds, gold exchange-traded-funds (ETFs) or other ETFs, witnessed money flowing out.
What is worrisome is the fact that post May, 2013 - when industry had hit an all time high AUM, the overall assets have dipped over a lakh crore of about 14%.