The mutual fund (MF) industry ended FY19 on a sombre note. At the end of the March quarter, the industry's average assets under management (AAUM) stood at Rs 24 trillion — just 6% higher than the previous financial year (FY18).
Among individual fund houses, SBI MF was the biggest gainer in absolute terms; its AAUM rose Rs 66,090 crore, compared to its asset base in the corresponding period of FY18. HDFC MF, Kotak Mahindra MF and Franklin Templeton MF were other major gainers in absolute terms. In percentage terms, mid-sized fund house Mirae MF's asset base