India’s total market capitalisation has risen 7.1 per cent, or Rs 10.3 trillion, to Rs 155 trillion, so far, this calendar year. Foreign portfolio investors (FPIs) and mutual funds (MFs) have seen their assets under custody (AUC) grow at a much faster rate. FPIs, the biggest investor class outside promoters, have seen their AUC go up 11.5 per cent, or Rs 3.1 trillion, to Rs 30.4 trillion, while MFs have seen their assets increase by Rs 1.8 trillion, or 18.4 per cent, to almost Rs 12 trillion. While most part of the asset growth is because of capital appreciation, a considerable portion has come on account of incremental inflows. AUC growth for insurance companies has been less than 5 per cent. Market players say this could be a sign that growth in insurance giant, Life Insurance Corporation’s (LIC) equity holdings has been less than the market. Meanwhile, foreign direct investment (FDI) is emerging as an important investor class with 16 per cent growth in assets.