In our last note we talked about Mutual Fund commissions and since then have been notified (thanks, alert reader!) about an obvious incongruence.
The original data says Axis Bank’s AUM was more than 63,000 cr. but the net inflows were only 1,000+ cr. How can that have resulted in an increase of more than 57,000 cr. of AUM?
It’s quite likely they’ve missed a decimal . . .