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​Good time for the market, MF right way for entry: Sebi Chairman Ajay Tyagi

NEW DELHI: Mutual fund is a very good story in India as assets under management doubled in the last four years, Sebi Chairman Ajay Tyagi told ETNow today.

He drove home the point that Sebi has taken up a lot of reforms concerning distributors.

“We will also meet AMFI next month as well,” he added.

The chief of the Securities and Exchange Board of India called on investors to go the MF way as that’s “the right way to enter equity markets”.

With the BSE Sensex and NSE Nifty at their all-time highs, Tyagi stressed that this is good time for markets. “The Sensex has given the best performance among emerging markets this financial year,” he added.

The 30-share index climbed its fresh life high of 36,929.69 today while the Nifty was some 20 points away from its record at the time of filing this article.

In India, asset base of mutual funds as a percentage of GDP is just 11 per cent while the world average is 62 per cent.

According to the Association of Mutual Funds in India (AMFI), assets under management (AUM) of the Indian mutual fund industry grew 1.19 per cent sequentially to Rs 22.86 lakh crore in June.

On a YoY basis, the industry AUM witnessed a growth of 20.57 per cent. The quarterly average assets under management (QAAUM) at the end of Q1 FY19 was Rs 23.40 lakh crore, up 19.91 per cent from Rs 19.52 lakh crore at the end of Q1 FY18.

According to Sebi data, the total folio count at the end of June stood at 7.46 crore, up 1.57 per cent MoM and 21.97 per cent YoY.

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