India’s mutual fund industry posted marginal growth in assets under management (AUM) in September, despite witnessing its steepest net outflows of the fiscal year, according to data from ICRA Analytics. The industry’s total AUM inched up 0.57% month-on-month to ₹75.61 lakh crore from ₹75.18 lakh crore in August.

The modest growth came on the back of strong inflows into Gold Exchange Traded Funds (ETFs) and continued investor interest in equity schemes, even as debt funds faced large redemptions.

Gold ETFs emerged as the standout category in September, attracting all-time high inflows of ₹8,363 crore — a 578% jump from the same month last year and the highest-ever monthly inflow for the segment.

Their AUM surged 24% month-on-month to ₹90,136 crore, more than doubling on a yearly basis.

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