The total AUM of the 32 fund houses in the country has already crossed Rs 5,50,000 crore (Rs 5.5 trillion) at the end of October. With the addition of Rs 79,740 crore (Rs 797.40 billion), the assets increased to a record high of Rs 5,56,729 crore (Rs 5.56 trillion), representing a growth of 17 per cent over September, industry body Assocham said.
The mutual fund industry has immense potential to grow even if it is able to reach 20 per cent levels of the countries like Brazil and Indian investors are better informed about the benefits of investment, Assocham president Venugopal Dhoot said while releasing a study on mutual fund industry.
According to the study, AUM as percentage of GDP in India is 4.12 per cent as against Australia 88.22 per cent, Germany 10.54 per cent, USA 61.27 per cent, Canada 34.33 per cent and France 59.63 per cent.
The industry is in fast growth phase, competition is becoming fierce with mergers and takeovers and building of brand exercise through focused advertising, better customer service, newer distribution channels, consistent return and newer products offerings, the study said.
The share of public sector firms in the industry will go up to nearly 20 per cent from less than 10 per cent now, he said, adding introduction of new products would also expand the industry.
According to the study, the emerging trends in the mutual fund industry would be the roll out of commodity funds and real estate funds.
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