AUM up by 2.77%

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DII'S NET BUY RS.751.95 CR IN EQUITIES ON NOVEMBER 03 (PROV)
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Updated: 05/09/2008 | 12:00 AM IST

Mutual fund

AUM up by 2.77%

Capital Market

Friday, September 05, 2008 (New Delhi)

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Assets under management (AUM) raised by 2.77% to Rs 5.44 lakh in August 2008 compared with Rs 5.29 lakh in August 2008. AUM of fund of funds (FoFs) was Rs 1122.99 crore in August 2008.

This improvement in AUM resulted from the investors preference shifting towards debt funds in general and fixed maturity plans, and liquid funds in particular accompanied by more stable equity market which helped equity driven schemes to retrieve some of their early losses. On the equity side, money came in through systematic investment plans (SIPs).

Of the 34 mutual funds 24 registered a rise in AUM in August 2008 over July 2008 and rest 10 showed a fall in their AUM. There were 17 fund houses with AUM above Rs 10000 crore. Twelve of them had a net inflow in August 2008 compared with July 2008 and remaining had a net outflow.

The top three funds witnessing a rise in the AUM included Bharti AXA Mutual Fund (78.27%), Taurus Mutual Fund (29.50%) and Benchmark Mutual Fund (28.61%). Reliance Mutual Fund continued its run as the largest fund house with Rs 88616.46 crore of AUM in August 2008 a rise of 4.79% over July 2008. It registered net inflow of Rs 4052.55 crore in August 2008 over July 2008. HDFC MF moved ahead of ICICI Prudential to become the second largest fund house in August 2008. AUM of HDFC Mutual Fund was at Rs 53858.63 crore in August 2008 a rise of 6.12% in AUM over July 2008. It had registered net inflow of Rs 3106.6 crore in August 2008 from July 2008.

ICICI Prudential Mutual Fund hired third rank with posting AUM of Rs 53092.78 crore with net outflow of Rs 2067.87 crore in August 2008 over July 2008. It has given a fall of 3.75% in August 2008.

It is followed by the public sector UTI Mutual Fund who continued at fourth position with an AUM of Rs 46947.32 crore a rise of 1.79% over July 2008.

The other top mutual funds, in terms of AUM, were Birla Sun Life Mutual Fund (Rs 38184.08 crore), SBI Mutual Fund (Rs 29576.77 crore) and Franklin Templeton Mutual Fund (Rs 27715.32 crore) in August 2008. The assets of Franklin Templeton Mutual Fund grew by 13.40% in August 2008 and Birla Sun Life Mutual Fund rose by 1.83%.

Reliance Mutual Fund recorded the highest inflow of Rs 4052.55 crore in August 2008 followed by Franklin Templeton Mutual Fund with a net inflow of Rs 3274.38 crore. Occupying the third and fourth slots, HDFC Mutual Fund and JM Financial Mutual Fund recorded inflow of Rs 3106.6 crore and Rs 937.69 crore, respectively.

ICICI Prudential Mutual Fund recorded the second highest net outflow of Rs 2067.87 crore in August 2008, after Kotak Mahindra Mutual Fund, which secured its top position with an outflow of Rs 369.05 crore, followed by ING Vysya Mutual Fund and LIC Mutual Fund, with a net outflow of Rs 353.92 crore and Rs 345.89 crore, respectively.

Smaller players with AUM less than Rs 1000 crore comprised Baroda Pioneer Mutual Fund (erstwhile Bank Of Baroda Mutual Fund) (Rs 61.05 crore), Quantum Mutual Fund (Rs 71.39 crore), Escorts Mutual Fund (Rs 173.22 crore), Sahara Mutual Fund (Rs 178.99 crore) Taurus Mutual Fund (Rs 373.98 crore) and Bharti AXA Mutual Fund (Rs 408.44 crore).

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