The mutual fund (MF) industry registered 14.07% increase in total asset under management (AUM) to Rs 7.59 lakh crore as on 31 January 2010 from Rs 6.65 lakh crore as on 31 December 2009. The huge inflow on account of income funds aided the increase in total asset during the month of January 2010.

Bank of India has entered into a tie up with Birla Sun Life mutual fund for the distribution of mutual funds products. The bank has signed a memorandum of agreement with Birla Sun Life to use its 3,100 branches to distribute the latter's MF products.