Mutual Funds According to a report by research firm RNCOS, the Indian mutual funds retail market is presently growing at a CAGR of around 30 per cent, and is likely to touch US$ 300 billion by 2015. The growth momentum of the mutual fund industry continues in the new fiscal year (2008–09). Fund mobilisation has increased by a whopping 77.4 per cent to US$ 327.93 billion during April–June 2008, compared to US$ 184.81 billion in April–June 2007. Consequently, average Assets Under Management (AUM) of the mutual fund industry has increased to US$ 132.33 billion for June 2008, against US$ 99.86 billion in the corresponding period in 2007. Further, at approx. US$ 96 billion–US$ 98 billion in assets for February 2009, the mutual funds (MF) industry has seen a sharp increase of about 8.7 per cent in AUM since the previous month. This is also the third consecutive monthly rise in assets for the industry as a whole.