The Hindu Business Line : MFs asset base jumps 8.65%

The Association of Mutual Funds (AMFI) data for July shows no variation in the order of mutual fund houses having high assets under management when compared to the previous month.

Prudential ICICI tops the industry with highest assets at Rs 31,431.53 crore followed by UTI mutual fund at Rs 30,958.06 crore. This data excluded the assets in fund of funds. Reliance Mutual Fund is third in the industry for highest AUM in spite of losing assets in July. The fund house lost Rs 95.64 crore, a decrease of 0.36 per cent. HDFC Mutual Fund and Franklin Templeton Mutual Fund follow Reliance in terms of high assets under management.

The mutual fund industry has witnessed an increase in its asset base by Rs 22,966.39 crore, an 8.65 per cent increase. The current assets of the whole industry stand at Rs 2,88,501.48 crore. DSP Merrill Lynch Mutual Fund lost 5.77 per cent of its assets from the previous month by Rs 639.45 crore.DBS Chola MF, Sahara MF and Escorts MF were the other funds that witnessed a decline in assets under management. Of the total 29 mutual funds in the industry, only five MFs saw a decline of assets. Standard Chartered MF, Kotak Mahindra MF and LIC MF witnessed highest increase in assets for the month.