The industry, comprising 43 active players, had an average assets under management (AUM) of over Rs 16.46 lakh crore at December-end, the latest data of the Association of Mutual Funds in India (AMFI) showed.
Industry experts attributed the monthly rise in asset base to inflows in income and equity categories. Besides, buoyant investor sentiment and phenomenal growth in systematic investment plans (SIPs) also helped in the growth of assets under management, they added.
The industry AUM had crossed Rs 10 lakh crore in May 2014, and it is expected to reach Rs 20 lakh crore this year.
"The asset under management of the mutual fund industry is quite likely to cross the Rs 20 lakh crore mark in 2017," Quantum Mutual Fund Chief Executive Jimmy Patel said.
Overall inflow in mutual fund schemes stood at Rs 53,817 crore at the end of January compared with an inflow of Rs 10,923 crore at December-end.
Further, equity and equity-linked saving schemes saw an infusion of Rs 4,880 crore.
However, gilt and gold exchange-traded funds (ETFs) witnessed a pull out of Rs 212 crore and Rs 35 crore, respectively during the period under review.
Mutual funds are investment vehicles made up of a pool of funds collected from a large number of investors. The funds are invested in stocks, bonds and money market instruments, among others.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
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