Marginal rise in AAUM

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Updated: 06/11/2009 | 12:00 AM IST

Mutual fund

Capital Market

Friday, November 06, 2009 (New Delhi)

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Mutual fund industry registered a marginal rise in its Average Asset Under management (AAUM) in October 2009. The combined AAUM of the 37 fund houses in the industry rose 2.64% by Rs 19592.09 crore to Rs 7.62 lakh crore in October 2009 compared with Rs 7.42 lakh crore in September 2009, according to the data released by the Association of Mutual Funds in India (AMFI). AUM of funds of funds (FoFs) stood at Rs 860.54 crore in October 2009.

The rise in AUM of the MF industry was contributed by the rise in huge inflow towards debt funds. The MFs net investments of debt securities crossed Rs 34300 crore highest in the current financial year. However, major benchmark indices failed to add on the average AUM in this month. Bombay Stock Exchange's Sensex and National Stock Exchange's Nifty tumbled 7.18% and 7.32%, respectively, in October 2009.

24 of the 37 mutual fund houses registered a rise in AUM in October 2009 over September 2009. There were 15 fund houses with AUM above Rs 10000 crore. Among these big fund houses, except 4 fund houses, others had net inflow in October 2009 over the previous month.

The top three funds witnessing a rise in the AUM included Shinsei Mutual Fund (142.60%), Sahara Mutual Fund (55.08%), and Taurus Mutual Fund (40.03%). Reliance Mutual Fund continued to be the largest fund house with Rs 116781.92 crore of corpus in October 2009 but it recorded a fall of 1.24% in its AAUM. It registered net outflow of Rs 1469.52 crore in October 2009 over September 2009. HDFC Mutual Fund continued as the second largest fund house with AUM of Rs 93316.04 crore in October 2009-a growth of 3.19% in October 2009. It had registered net inflow of Rs 2888.78 crore in October 2009 from September 2009.

ICICI Mutual Fund stood at third position with an AUM of Rs 80524.94 crore - a rise of 0.51% in October 2009 from September 2009.

The public sector UTI Mutual Fund picked up the fourth position with posting AUM of Rs 76847.34 crore with net inflow of Rs 3258.55 crore in October 2009 over September 2009.

The other top mutual funds, in terms of AUM, were Birla Sun Life Mutual Fund (Rs 65052.92 crore), LIC Mutual Fund (Rs 42379.58 crore) and SBI Mutual Fund (Rs 38322.49 crore) in October 2009. The assets of Birla Sun Life Mutual and SBI Mutual Fund grew by 3.17% and 9.89%, respectively in October 2009. While, assets of LIC Mutual Fund declined marginally by 0.03%.

SBI Mutual Fund recorded the highest inflow of Rs 3449.04 crore in October 2009 followed by UTI Mutual Fund with a net inflow of Rs 3258.55 crore. HDFC Mutual Fund and Tata Mutual Fund recorded inflow of Rs 2888.78 crore and Rs 2500.15 crore, respectively.

Reliance Mutual Fund had registered highest outflow of Rs 1469.52 crore. Baroda Pioneer Mutual Fund recorded the outflow of Rs 820.84 crore in October 2009 over September 2009.

Smaller players with AUM less than Rs 1000 crore comprised Quantum Mutual Fund (Rs 79.83 crore), Edelweiss Mutual fund (Rs 126.08 crore), Escorts Mutual Fund (Rs 201.11 crore), Mirae Asset Mutual Fund (Rs 240.62 crore), Sahara Mutual Fund (Rs 344.21 crore) and Bharti AXA Mutual Fund (Rs 390.22 crore).

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