Top five MFs walk away with 40% of total asset size

Top five MFs walk away with 40% of total asset size


Mumbai: Indian mutual fund industry has crossed the Rs5-trillion mark in assets for the first time, but two-fifth of the total is controlled by the top five fund houses.

Total assets under management (AUM) of 32 fund houses in the country rose to a record high of Rs5,56,729 crore at the end of October, according to the data available with the industry association AMFI.

This represents an increase of Rs79,740 crore or 17% in October from Rs4,76,990 crore a month ago. All the 32 fund houses recorded an increase in their AUM during the reviewed period.

However, the top five fund houses — Reliance MF, ICICI Prudential, UTI MF, HDFC MF and Franklin Templeton — together own assets worth nearly Rs2 trillion, which is about 40% of AUM of all the fund houses.

The total AUM of the remaining 27 fund houses currently stands at about three trillion.

The total AUM of the five smallest fund houses — Taurus, Sahara, Escorts, BoB and Quantum — is in fact less than 1,000 crore. Inntum MF recorded the biggest growth in percentage terms with a rise of 16% in AUM, followed by HDFC MF with 15.5%.

The second biggest growth was recorded by Reliance MF at 13.5%, followed by Taurus (12.5%) and SBI (12%).

Reliance MF, part of Anil Ambani group firm Reliance Capital, retained its top position with its AUM growing 13.5 per cent in October to 79,973 crore. It was followed by ICICI Prudential with an AUM of 56,212 crore. MORE PTI TAN MBH BJ PKS SSA