Tuesday, September 4, 2007

US subprime mortgage crisis all through August has led to a fall in assets of mutual funds in India by over Rs18,500 crore

The total Assets under Management (AUM) of 32 fund houses have decreased to Rs4,67,623 crore from Rs 4,86,129 crore in July, latest data from Association of Mutual Funds in India showed.

Analysts, believe the decline in the assets of fund house may be due to the redemptions by investors on concerns of a market meltdown and utilisation of cash pile of mutual funds for making purchases in the bearish markets.

The BSE benchmark index Sensex had witnessed a sharp volatility during the past month on concerns related to the US subprime mortgage crisis.

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