Mutual fund assets surge 32 pct

Assets of Indian mutual funds surged 31.7 percent to Rs 8.1 trillion,helped by large inflows into fixed income funds,data from the Association of Mutual Funds in India showed on Monday.

Income funds,popular among corporates and banks as a venue to park their surplus funds,saw a net inflow of 1.8 trillion rupees. Equity funds saw a net outflow of 12.4 billion rupees,the data showed.

Industry assets had plunged 19.9 percent to 6.1 trillion rupees in March on outflows from fixed income funds.