Mutual funds managing more equity assets than insurers for the first time: ICRA report
For the first time, mutual funds have managed more money in equities than insurers in the month of October 2018, according to the data released by National Securities Depository Limited (NSDL). As per the data, equity assets managed by insurance companies came in at Rs 9.22 lakh crore as against Rs 9.32 lakh crore by mutual funds. Data released by Association of Mutual Funds in India (AMFI) showed that assets under management (AUM) of the mutual fund industry grew at 8.08% month-on-month (MoM) and 5.45% year-on-year (YoY) basis to Rs 24.03 lakh crore in November 2018. Equity AUM (including equity linked savings scheme), balanced funds and ETFs run by mutual funds stood at Rs 10.44 lakh crore in November 2018, up by 3.74% (MoM basis) and 8.92% (YoY basis). As per ICRA report, the mutual fun...