AUM of MFs spur to Rs 17 tln in Q3

The average assets under management (AAUM) of the mutual fund industry comprising 44 players grew by 26.4 per cent during the third quarter to Rs 16.93 trillion from Rs 13.41 trillion a year ago. The data show that a total AAUM of Rs 16.93 trillion during the third quarter, adding Rs 3.52 trillion over the year-ago period. In percentage terms, this is a 26.4 per cent growth, according to the data from the industry body Amfi. Significantly, amongst the top five mutual fund houses, HDFC Mutual Fund and Reliance Mutual Fund lost their market share to 13.10 per cent and 11.57, respectively in the reporting period from 13.32 per cent and 12.23 per cent respectively a year ago. The rest 29 fund houses collectively registered relatively slower growth at 19.4 per cent and also lost collective market share to 9.55 per cent in the reporting period from 10.18 per cent a year ago. As per the Amfi data, among the top 15 players, the growth was led by DSP BlackRock Mutual Fund clipping at over 53.25 per cent, making it the fastest growing MF in the reporting period, taking its AUM to Rs 58,357.11 crore. This also helped DSP BlackRock MF to move up the ranking to the nine-nth position, overtaking IDFC Mutual Fund which grew at just about 6 per cent. Commenting on the achievement, the company's executive vice president Aditi Kothari Desai said "both equity and fixed income teams have performed well for us." This was followed by Kotak Mutual Fund growing by 49.6 per cent, Axis Mutual Fund (42.9), SBI Mutual Fund (40.9), ICICI Prudential Mutual Fund (32.4), Birla Sun Life Mutual Fund (32.4) and HDFC Mutual Fund grew by 24.4 per cent. Interestingly, in March SBI MF had surpassed UTI MF to become the fifth largest player in terms of AUM. "The Q3 data of the industry shows that liquidity is there in the market and people find mutual fund as good investment," SBI MF executive director and chief marketing officer DP Singh told PTI. "We are looking at achieving an AUM of Rs 1.5 trillion from Rs 1.4 trillion at present by the fiscal-end," he added.