ASSETS UNDER MANAGEMENT (AUM)

Disclaimer: Copyright infringement not intended.

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.

https://www.thehindu.com/business/lics-exposure-to-adani-group-is-under-1-of-total-assets-under-management/article66451272.ece