chief of Reliance MF said," Growth in AUM is mainly due to good liquidity and higher inflows in debt funds."
During 2013, the performance of the mutual fund industry has, to an extent, mirrored the performance of the stock markets and foreign institutional investor (FII) investment inflows.
In 2013, not a single licence was issued and the sector did not witness any fresh foreign investment. In spite of this, the MF industry saw consolidation during the year.
HDFC MF agreed to buy all eight schemes of Morgan Stanley with combined assets of Rs 3,290 crore. Besides, Daiwa sold its assets to SBI Mutual Fund for an undisclosed amount in 2013.