Stocks

SBI MF average AUM up 13% in March quarter

for use in print and net.. bmsur Mumbai | Updated on April 03, 2020 Published on April 03, 2020

Pips HDFC MF, ICICI MF to top the table

The average asset under management (AAUM) of mutual fund industry has fallen 13 per cent in March quarter to ₹23.24 lakh crore against ₹26.77-lakh crore on the back of turbulence in both the debt and equity markets.

Both the market leaders in the mutual fund industry, HDFC MF and ICICI MF have reported a fall in AAUM when compared on a sequential basis.

Interestingly, SBI Mutual Fund has pipped leading fund houses to top the chart with a gain of 6 per cent in its average asset managed in March quarter. Its average AUM was at ₹3.73-lakh crore (₹3.52-lakh crore), according to data released by the Association of Mutual Funds in India on Friday.

In fact, SBI MF was the only fund house among the top four to register a growth in the March quarter.

The average AUM of HDFC MF was down three per cent to ₹3.69-lakh crore in March quarter against ₹3.82-lakh crore logged in December quarter. Similarly, ICICI MF average asset was slipped by three per cent to ₹3.50-lakh crore (₹3.61-lakh crore).

Aditya Birla Sun Life MF’s average asset was down marginally at ₹2.47-lakh crore (₹2.49-lakh crore) while that of Nippon India MF was flat at ₹2.04-lakh crore.

Ashwani Bhatia, Managing Director and CEO, SBI Fund Management said the fund house had built a robust internal systems and processes for bottom-up investing with long term view which has helped SBI MF achieve the milestone.

The approach to establish a culture for growth with focus on safety, liquidity and return have played a pivotal role in getting the trust of customers, added Bhatia.

Yearly Comparison

SBI MF has added ₹89,730 crore when compared average AUM of ₹2.83-lakh crore logged in March quarter last year, emerging a clear winner among all the mutual funds.

HDFC MF and ICICI MF added average AUM of ₹27,492 crore and ₹29,951 crore to retain the second and third slot while Aditya Birla MF gained ₹1,042 crore in the last one year. In fact, Axis MF and IDFC MF made their mark by adding ₹48,682 crore and ₹34,560 crore, respectively, to their average AUM.

Shares of most leading companies were battered in March due to Covid-19 outbreak and subsequent lockdown announced by the Government. In fact, the equity market was very volatile in the first two months of the year as the global uncertainty and rate cut by the US Fed led to pull out by foreign investors. The debt markets also turned volatile wiping out most gains made by investors.

Published on April 03, 2020

A letter from the Editor


Dear Readers,

The coronavirus crisis has changed the world completely in the last few months. All of us have been locked into our homes, economic activity has come to a near standstill. Everyone has been impacted.

Including your favourite business and financial newspaper. Our printing and distribution chains have been severely disrupted across the country, leaving readers without access to newspapers. Newspaper delivery agents have also been unable to service their customers because of multiple restrictions.

In these difficult times, we, at BusinessLine have been working continuously every day so that you are informed about all the developments – whether on the pandemic, on policy responses, or the impact on the world of business and finance. Our team has been working round the clock to keep track of developments so that you – the reader – gets accurate information and actionable insights so that you can protect your jobs, businesses, finances and investments.

We are trying our best to ensure the newspaper reaches your hands every day. We have also ensured that even if your paper is not delivered, you can access BusinessLine in the e-paper format – just as it appears in print. Our website and apps too, are updated every minute, so that you can access the information you want anywhere, anytime.

But all this comes at a heavy cost. As you are aware, the lockdowns have wiped out almost all our entire revenue stream. Sustaining our quality journalism has become extremely challenging. That we have managed so far is thanks to your support. I thank all our subscribers – print and digital – for your support.

I appeal to all or readers to help us navigate these challenging times and help sustain one of the truly independent and credible voices in the world of Indian journalism. Doing so is easy. You can help us enormously simply by subscribing to our digital or e-paper editions. We offer several affordable subscription plans for our website, which includes Portfolio, our investment advisory section that offers rich investment advice from our highly qualified, in-house Research Bureau, the only such team in the Indian newspaper industry.

A little help from you can make a huge difference to the cause of quality journalism!

Support Quality Journalism
This article is closed for comments.
Please Email the Editor
You have read 1 out of 3 free articles for this week. For full access, please subscribe and get unlimited access to all sections.