The Indian MF (mutual fund) industry posted a growth in quarterly average AUM (Assets under management) for the first time in the last 4 quarters.
AUM rose by 4% to Rs. 6.92 lakh crore in the June ( April to June 2012) quarter from Rs. 6.65 lakh crore in the previous quarter as per the latest numbers announced by the AMFI (Association of Mutual Funds in India).
Debt oriented funds were key contributors to the rise. Assets of money market funds / liquid funds grew by Rs. 16,900 Crore, ultra short term debt funds by Rs. 6,900 crore, FMPs (fixed maturity plans by Rs. 2,900 crore and other debtoriented funds by Rs. 5,800 crore over the last quarter.
Equity funds witnessed a decline of Rs. 5,300 crore in AUM owing to weak sentiments prevailing in the asset class in the quarter gone by.
Two-thirds of the industry (29 out of 44 fund houses) registered a rise in average AUM in the latest quarter,
Birla Sun Life Mutual Fund reported the highest rise in absolute terms. Its average AUM rose by Rs. 6,100 crore or 10% to Rs. 67,200 crore in the June quarter.
SBI Mutual Fund followed with its average AUM up Rs. 5,100 crore or 12% to Rs. 47,200 crore.
Among AUM losers, Fidelity Mutual Fund reported the highest fall in absolute terms of Rs. 13 crore or 15% in its average AUM to Rs. 7,400 crore.
HDFC Mutual Fund maintained its top position by asset size at Rs. 92,600 crore in the June quarter; its assets rose by Rs. 2,700 crore or 3.1%.
Reliance Mutual Fund maintained second position with assets of Rs80,700 crore (up 3.3 per cent or Rs. 2,600 crore), while ICICI Prudential Mutual fund was third with Rs. 73,000 crore assets (up 6.3 per sent or Rs. 4,300 crore).
The share of the top 5 mutual funds’ average assets stood at 54 per cent in the June quarter while the share of the top 10 funds was 78%.
The bottom 10 fund houses continued to occupy less than one per cent of the average AUM.
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