CRISIL Research has come out with its report on MF.
Indian mutual funds’ average assets under management (AUM) fell by 4% or Rs 299.31 bn to Rs 7171 bn for quarter ended September 2011 as compared with Rs 7471 bn .......
CRISIL Research has come out with its report on MF.
Indian mutual funds’ average assets under management (AUM) fell by 4% or Rs 299.31 bn to Rs 7171 bn for quarter ended September 2011 as compared with Rs 7471 bn for quarter ended June 2011. Fall in the average AUM can be attributed to a steep 13% falls in the domestic equity markets (S&P CNX Nifty). Further higher redemption by corporates on account of higher advance tax outflow during the Jul-Sep quarter as against the previous quarter also resulted in decline.
Industry Avg AUM* % Growth
(Rs Billion)
QE September 2011 7171 -4.01%
QE June 2011 7471 6.16%
QE March 2011 7037 3.78%
QE Dec 2010 6781
22 out of 44 fund houses record fall in AUM: 50% of fund houses witnessed fall in average AUM. Reliance Mutual fund witnessed the highest fall in absolute terms. Its average AUM fell by Rs 99.09 bn or 9.71% to Rs 921.40 bn in September. UTI Mutual fund followed with its average AUM falling 9.4% or Rs 65.25 bn to Rs 625.80 bn in the latest quarter. Among gainers, Deutsche Mutual Fund registered the highest growth in average AUM in absolute terms, with its AUM rising Rs 16.77 bn or 15% in the quarter.
Reliance Mutual Fund retains its top position: Despite a close to 10% decline in AUM, Reliance Mutual Fund continued to retain its top position with respect to asset size at Rs 921.40 bn for the September quarter. HDFC Mutual Fund maintained second position at Rs 918.27 bn for the quarter ended September. ICICI Prudential Mutual Fund was at third position at Rs 752.87 bn. The share of top 5 mutual funds’ assets stood at 54% as on 30th September while the share of top 10 funds’ assets was at 78%. The bottom 10 fund houses continued to occupy less than 1% of the AUM.