MF industry AUM hit 11-month low, stocks of 4 firms underperform

The mutual fund industry - which makes money managing assets - has seen zero growth in 11 months.

The assets managed by domestic mutual funds (MFs) fell to their lowest level in 11 months in June. The assets under management (AUM) for the industry was at Rs 35.64 trillion on June 30 — the lowest since July 31, when it was Rs 35.32 trillion.

The MF industry — which makes money managing assets — has seen zero growth in 11 months.

Shares of four listed asset management companies have underperformed the market over the past year, declining between 20 per cent and 40 per cent.

Industry assets have fallen over 6 per cent from their peak of