According to the Securities and Exchange Board of India, portfolio managers saw an increase in assets under management in January 2014, compared to December 2013.

Portfolio managers in India saw an increase in assets under management in the first month of 2014, from Rs7,22,233 crore (approx $116.37 billion) as at the end of December 2013 to Rs7,32,970 crore by the end of January 2014, according to latest figures from the Securities and Exchange Board of India. 

The AuM totals were based on investments held on behalf of high net worth individuals. In January alone, portfolio managers reportedly handled assets worth around Rs5.67 lakh crore individually for discretionary services, Rs1.28 lakh crore for advisory services and Rs37,705 crore for non-discretionary investments. 

The increase came despite the drop in the number of advisory clients to 9,572 in January, from 9,918 in December, same with non-discretionary clients, which declined from 5,098 to 5,000. There was an increase in the number of discretionary clients from 43,159 in December to 43,380 in January. Discretionary accounts allow the managers to buy and sell without their clients' consent, while in non-discretionary accounts it is the client that makes all the trading decisions. 

According to the 2013 World Wealth Report by Capgemini and RBC, India saw a 22 per cent growth in its population of HNW individuals, compared to 2012, due to positive trends in equity market capitalisation, gross national income, consumption and real estate