Mutual funds’ asset base swells to ₹10.58 lakh cr in Sept quarter

The total assets under management (AUM) of mutual fund industry (excluding fund of funds) has hit the record in the quarter ended September.

According to the Association of Mutual Funds in India data for the latest quarter ending September, the total AUM of the MF industry was ₹10.58 lakh crore compared with ₹9.87 lakh crore in the previous quarter ending June 30. (This is excluding fund of funds — domestic, but including FoF — overseas).

Notably, nearly 50 per cent of the AUM was accounted for by just four funds — HDFC MF, ICICI Prudential, Reliance and Birla Sun Life, in that order. Their cumulative AUM was about ₹4.94 lakh crore.

Birla Sun Life MF has become the latest entrant into the ₹1 lakh crore AUM club in the industry.

HDFC MF is maintaining its numero uno position in the MF industry with its AUM growing to ₹1.41 lakh crore in the latest quarter ending September as against ₹1.30 lakh crore in the previous quarter (June), a shade less than 9 per cent growth. It was followed by ICICI Prudential with ₹1.27 lakh crore (₹1.18 lakh crore in the earlier quarter), Reliance MF with ₹1.22 lakh crore (₹1.12 lakh crore) and the newest entrant into the ₹1 lakh crore club Birla Sun Life that has seen its assets edge up to ₹1.02 lakh crore in the September quarter from ₹98,555.78 crore in the quarter ending June this year.

However, the gap between the top four MFs and their closest competitors was huge. UTI MF with AUM of ₹83,249.91 crore, SBI MF with assets of ₹72,849.89 crore and Franklin Templeton with AUM of ₹55,611.15 crore were the only three other funds with AUM exceeding ₹50,000 crore. IDFC was close to reaching it with an AUM of ₹45,737.96 crore. It has just closed the lump sum investment option (other than by way of SIP/STP) in its popular IDFC Premier Equity Fund.

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