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According to media reports, the mutual fund industry’s asset base increased 5.54%, or Rs. 1.24 lakh crore, to Rs. 23.61 lakh crore in 2018, driven by persistent flow in SIPs and strong retail investor participation despite the market volatility. However, the growth rate softened compared with 2017 when the industry soar 32% with an asset increase of Rs. 5.4 lakh crore.