Money with portfolio managers cross Rs 11.50 lakh crore
Asset Under Management (AUM) with Portfolio Managers (PMs) in India is now over Rs 11.50 lakh crore, data released by market regulator Sebi showed.
As per Sebi, almost 57,391 clients under discretionary added Rs 8.87 lakh crore, up by 27.37% compared to Rs 6.96 lakh crore same month of the previous year.
While 4509 non-discretionary clients contributed Rs Rs 69,159 crore and Advisory - which had 2238 clients added over Rs 1.94 lakh crore.
Overall AUM stood above Rs 11.50 lakh crore, a rise by 16.82% from Rs 9.84 lakh crore of September 2015.
Majority of the amount of discretionary and non-discretionary clients were from plain debt.
Advisory's Rs 1.94 lakh crore amount in September, was a sequential decline of 1.27% compared to Rs 1.96 lakh crore of August 2016.
Of the above AUM Rs 794683.47 crore is contributed by funds from(employees provident fund organisation) EPFO/PFs, Sebi said.