For the month of May, the total asset under management (AUM) of the mutual fund industry grew by 4 per cent to cross the barrier of Rs. 8 lakh crore. This is certainly good news for an industry that has been facing continuous decrease on the corpus front for a long time.

But the best thing is that the total AUM of the industry was at its six months high. As per the latest industry figures available, the average AUM of the same increased 4.4 per cent or Rs. 34,393.67 crore during the above mentioned period.

The combined AUM of the whole industry, which consists of 37 fund houses, stood at Rs. 8,03,559.06 crore

It should be noted that the last time this relatively new financial instrument industry saw its corpus go past a record was in the month of November last year. At that time, the AUM was at Rs 8.07 lakh crore.

During this period, Reliance MF, the market leader, saw an addition of Rs 7,154 crore to its average assets at Rs 1.19 lakh crore. HDFC crossed Rs. 1 lakh crore and ICICI Prudential MF touched Rs 87,709.81 crore.