Chart of the Day: In HDFC Mutual Fund we trust
The IL&FS default has led to large redemptions in some mutual funds, but HDFC Mutual Fund has benefitted since it did not have any exposure to IL&FS and DHFL
In just two months, HDFC Mutual Fund has moved from number five in the league tables for liquid and money market funds to the top spot. The assets under management (AUM) at HDFC Mutual Fund in these categories of funds have risen by 58.5% since August, while the AUM of all remaining mutual funds have fallen 16.1%. SBI Mutual Fund and Kotak Mutual Fund also reported an increase in AUM, albeit at a slower pace of 21.9% and 12%, respectively.