The Average Assets Under Management (AAUM) of Mutual Fund Industry has grown 2.64% for February 2010, after facing 4.14% fall in January 2010. According to the data provided by the Association of Mutual Funds in India (AMFI), the AAUM of 38 fund houses stood at Rs 7.82 lakh crore in February compared with Rs 7.62 lakh crore (for 37 fund houses) in January 10. AAUM for February has grown by Rs 20085.98 crore compared with a fall of Rs 32860.51 crore in January. The industry has been back on the growth path, after witnessing fall in AAUM for two consecutive months.

IDFC Mutual Fund has launched a new fund named as IDFC Fixed Maturity Plan - Fourteen Months Series 1, a close ended income scheme. The scheme shall mature on 16 May 2011. The new issue is open for subscription from 3 March and closes on 10 March 2010.