Mutual funds net sold stocks worth Rs 81.21 crore, while being net buyers in the debt market to the tune of Rs 7,716.21 crore in July, according to figures redeased by market regulator Sebi.
"The increase in the total AUM of mutual funds in July is mainly due to the debt funds, which reflect liquidity in the markets and short term funds have given attractive returns in the month," Mahindra Jajoo, fund manager of ABN Amro AMC, said.
Prudential ICICI retained the top slot among mutual funds by managing assets worth around Rs 31,431 crore, followed by UTI, which had AUM of Rs 30,958 crore in the month.
At the third position in terms of total AUMs is Reliance Mutual Fund at Rs 26,218 crore, closely followed by HDFC MF's Rs 25,695 crore and the fifth in the ranking is Birla Sun Life MF with AUM of Rs 15,883 crore.
There are 29 mutual funds (MFs) in the country.