ASSETS UNDER MANAGEMENT (AUM)
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Context:
- Life Insurance Corporation of India (LIC) said its exposure to the Adani Group was less than 1% of the total assets under management (AUM) at book value.
- LIC’s said its total holding under equity and debt as on December 31 in the Adani group of companies was ₹35,917.31 crore.
Note: Adani has been alleged by Hindenburg Hindenburg (A research company) for doing Short Selling. Read: https://www.iasgyan.in/daily-current-affairs/short-selling. They released a massive report last week outlining allegations of corporate fraud and stock market manipulation.
Assets under management (AUM):
- Assets under management (AUM), also called funds under management, is the total market value of the securitiesa financial institution (such as a bank, mutual fund, or hedge fund) owns or manages on behalf of its clients.