Mutual Funds: Share of top 10 fund houses in total AUM falls below 80 percent: Report

The top 10 fund houses are gradually losing ground to their smaller peers, even as they continue to hold the lion’s share in the total assets under management (AUM) of the mutual fund (MF) industry

MintGenie Team
Published5 Jan 2024, 03:52 PM IST
Experts attribute this phenomenon to the declining debt fund share in the total AUM and the growing number of mutual fund players.
Experts attribute this phenomenon to the declining debt fund share in the total AUM and the growing number of mutual fund players.

The top 10 fund houses are gradually losing ground to their smaller peers, even as they continue to hold the lion’s share in the total assets under management (AUM) of the mutual fund (MF) industry, shows an analysis of the quarterly AUM for the past six years, Business Standard reported.

These fund houses had an average AUM of ~38.8 trillion in the third quarter (Q3) of 2023-24, which is 79 per cent of the total industry AUM of ~49.2 trillion. The share has come down steadily since Q3 of 2019-2020, when the share stood at 84 per cent.

Experts attribute this phenomenon to the declining debt fund share in the total AUM and the growing number of mutual fund players.

The larger fund houses have a stronger hold in active debt funds vis-a-vis active equity funds. The top 10 MFs’ share in active equity AUM is close to 70 per cent, according to an analysis of the quarterly AUM disclosure of AMCs.

Post-pandemic, the active equity schemes have registered a sharp jump in their share in total AUM at the expense of debt funds

The active equity funds now account for 41 per cent of industry AUM vis-a-vis 28 percent in February 2020. 

At the same time, active debt funds’ share has slumped from 45 per cent to 28 per cent, according to data from the AMFI (Association of Mutual Funds in India).

Overall, the average AUM of MFs in Q3 FY 2024 stood at ~49.3 trillion, almost 5 per cent higher than in the previous quarter. This is the sixth consecutive quarter when the AUM has recorded a growth.

As compared to Q3 FY 2023, the AUM is up 22 per cent. The rise has largely been on account of a sharp rally in the equity market and surging inflows into equity schemes, mostly through systematic investment plan (SIP) accounts.

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First Published:5 Jan 2024, 03:52 PM IST
HomeMutual FundsMutual Funds: Share of top 10 fund houses in total AUM falls below 80 percent: Report

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