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Equity savings funds are no substitute to debt funds, but can be appealing to investors looking for relatively stable returns with low exposure to equity and the benefit of equity taxation.
Hybrid schemes, with total Assets Under Management (AUM) of Rs 4.87 trillion, are the second-lowest open-ended mutual fund category after Solution Oriented Schemes. Compared to this, Growth/Equity Oriented Schemes commanded AUM of Rs 15.01 trillion as of February-end.
HDFC AMC board has approved the appointment of Chirag Setalvad as Head - Equities and Shobhit Mehrotra as Head-Fixed Income.
The Indian mutual fund space has witnessed an expansion amid the Covid-19 pandemic. Top fund houses have registered growth in the range of 8-16 per cent this year in their assets under management (AUM). Indian Mutual Funds market AUM has recently crossed over Rs 36 lakh crore. Average Assets Under Management (AAUM) of the Indian Mutual Fund Industry for the month of August 2021 stood at Rs 36,09,471 crore. Assets Under Management (AUM) of the Indian Mutual Fund Industry as on August 31, 2021
Uniindia: Kolkata, Oct 01 (UNI) Axis Mutual Fund, one of the leading mutual fund houses in India, renamed and repositioned its existing fund (Axis Dynamic Equity Fund) to Axis Balanced Advantage Fund.