Mumbai: The big boys of the Indian mutual fund space are getting even bigger with five top players alone accumulating assets worth over $52 billion (over Rs 2,10,500 crore) in the industry, whose combined wealth has soared past $100 billion mark (over Rs 4,10,000 crore).
The cumulative Assets Under Management (AUM) of the country’s 32 fund houses rose to Rs 4,14,171.60 crore at the end of May, a rise of about Rs 64,000 crore (17%) from Rs 3,50,280 crore a month ago, latest data available with Association of Mutual Funds in India shows.
However, it is the five biggest fund houses -- Reliance, ICICI Prudential, UTI, HDFC and Franklin Templeton -- which together cornered total assets of Rs 2,12,339 crore -- up by 16% or about Rs 30,000 crore from the previous month.
The AUM of Reliance Mutual Fund, which further strengthened its position as the largest fund house, stood at Rs 59,143 crore, up by 21% over previous month’s Rs 48,828 crore.
In dollar terms, at an exchange rate of Rs 40.50, Reliance MF AUM in May stood at $ 14.60 billion.
Besides, ICICI Prudential follows with AUM of Rs 50,703 crore gaining by 19.95% from April’s Rs 42,267 crore.
Public Sector UTI MF stood at Rs 40,070.16 crore, followed by HDFC MF at Rs 36,146.66 crore and Franklin Templeton Rs 26,276.35 crore.
Meanwhile, five smallest fund houses -- Quantum, BOB, Escorts, Sahara and Taurus MF -- could garner only Rs 772 crore of AUMs in the month.
The bottom five funds added just 2.5% to their assets under managements as against their assets in April.
The lowest in MF chart are -- Quantum MF with AUM of just Rs 61 crore, followed by BOB MF at Rs 97 crore, Escorts at Rs 132.47 crore, Sahara at Rs 176.46 crore and Taurus with Rs 305.47 crore.