The assets under management mutual funds juggernaut keeps on adding to its collections month after month and Reliance MF has shown that it does the job of convincing people to invest in its schemes the best, retaining its number one slot in the industry with ease.

The industry has itself grown by a whopping 21.5% in July, although in the month before that there was a fall.

From Rs 40033299.4 lakh (Rs 4,00,333 crore) in June (see table 2) the mutual funds total assets under management (AUM) has increased to Rs 48651371.4 (Rs 4,86,513 crore) (check table 1), says the Association of Mutual Funds in India.

The reason ascribed by analysts for this is the ramped up collections through new fund offers, especially by Reliance MF, and also because of the rising stock markets, which have increased the value of shares held by mutual funds to new highs, in spite of the two crashes that the markets saw in recent days.

For the month of July, here is the list of the various mutual funds:

Reliance MF is still No. 1: Rs 66,420.03 crore (earlier, Rs 59,857.01)

ICICI Pru MF at 2^nd spot: Rs 48,688.55 (Rs 43,613.75)

UTI MF at 3^rd spot: Rs 42,547.60 (Rs 39,031.87)