Nippon India Mutual Fund has moved up two places to the fourth slot ahead of Aditya Birla Sun Life MF and Kotak Mahindra MF in top 10 fund houses with the highest average asset under management in the September quarter.

Nippon India MF registered an average AUM of ₹285,054 crore in the September quarter against ₹282,580 crore and ₹282,058 crore of Aditya Birla Sun Life MF and Kotak Mahindra MF, respectively.

In fact, Nippon India MF’s average AUM has moved up 2 per cent from ₹279,431 crore in the June quarter while that of Birla MF and Kotak MF increased less that 1 per cent from ₹281,527 and ₹282,002 crore, respectively.

The sharp rally in te equity market and strong growth in investors addition have helped Nippon India MF move up the ladder. NIMF also emerged as the largest AMC in terms of folio count at 1.84 crore in August.

Attributing the jump in AUM and investors base to a steady gradual process over the long term, Sundeep Sikka, ED & CEO, Nippon India MF, said the fundhouse enjoys the trust of 1.32 crore unique investors (identified by individual PAN), out of which 46 lakh investors were added in the last 12 months.

Bouncing back

Top bank sponsored fundhouses — SBI MF, ICICI MF and HDFC MF — retained their top slots with 5 per cent, 2 per cent and 3 per cent growth in the September quarter, respectively, with average AUMs at ₹682,607 crore, ₹476,191 and ₹429,271 crore against ₹647,474 crore, ₹465,468 and ₹415,307 crore, respectively.

Axis MF, UTI MF, IDFC MF and DSP MF retained their positions in the top-10 slot as well. The overall average AUM of MF industry was up at ₹39.04-lakh crore against ₹37.75-lakh crore logged in the June quarter on the back of a sharp bounce back in equity markets.

The benchmark Sensex was down from 57,061 in April to 53,019 points in June while it recovered to 57,570 in July and touched a high of 59,537 in August before closing flat at 57,427 in September.

On an average, Sensex has gained 5 per cent to 58,178 points in the September quarter against 55,215 points in the June quarter on the back of reversal of foreign investors’ inflow.

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