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MF News Emerging fund houses too are going strong

Emerging fund houses too are going strong

The AAUM of many emerging fund houses is increasing at a significant pace.
R Daya Apr 19, 2017

The last financial year has been very good for emerging fund houses, with their average assets under management (AAUM) showing significant growth. The top performers in this category have been Edelweiss Mutual Fund, Mirae Asset Mutual Fund, Indiabulls Mutual Fund and Motilal Oswal Mutual Fund.

Emerging fund houses are those asset management companies with an AAUM of less than Rs10,000 crore.

Edelweiss Mutual Fund showed a growth of 312%, with the assets growing from Rs1,677.74 crore in last quarter of FY 2015-16 to Rs6,917.54  crore in the last quarter of FY 2016-17. It is important to note that Edelweiss Mutual Fund merged with JP Morgan MF in November 2016. In the quarter, January to March 2016, JP Morgan had an AAUM of Rs6,414.51 crore.

Mirae Asset Mutual Fund saw a 138% increase in AAUM. The fund house that recorded an AAUM of Rs3,132.72 crore in Jan-Mar 2016, recorded an AAUM of Rs7,456.66 crore in the corresponding quarter this year. This is an increase of Rs4,323.94 crore.

Commenting on the growth in Mirae’s AAUM, Swaroop Mohanty, CEO of Mirae Assets, says, “Our consistent performance and sales process has increased the advisor’s trust in us. All our funds have seen significant rise in investments. We have especially seen a remarkable growth in our SIP book.”

Indiabulls Mutual Fund’s AAUM crossed the Rs10,000 crore mark in Jan-Mar 2017. The fund, which had recorded an AAUM of Rs5,289.55 crore in Jan- March 2016, doubled it this year. The AAUM of the fund for Jan-Mar 2017 stood at Rs10819.73 crore.

Funds like Motilal Oswal Mutual Fund, Quantum Mutual Fund, BOI AXA Mutual Fund and Canara Robeco Mutual Fund have also done well by showing 73%, 51%, 49% and 25% growth in AAUM, respectively.

However, funds like Escorts Mutual Fund, Sahara Mutual Fund and Taurus Mutual Fund have seen a fall in AAUM. Escorts Mutual Fund AAUM fell by 15%, Sahara Mutual Fund by 32% and Taurus Mutual Fund is down by 52%

AAUM growth of fund houses

 

Fund house

Jan - Mar 16 (in crore Rs)

Jan - Mar 17 (in crore Rs)

Absolute

change

Percentage change

Edelweiss Mutual Fund

1677.74

6917.54

5239.80

312%

Mirae Asset Mutual Fund

3132.72

7456.66

4323.94

138%

Indiabulls Mutual Fund

5289.55

10819.73

5530.18

105%

Motilal Oswal Mutual Fund

4689.21

8115.10

3425.89

73%

Quantum Mutual Fund

635.51

961.85

326.33

51%

BOI AXA Mutual Fund

2385.01

3552.33

1167.32

49%

Canara Robeco Mutual Fund

7967.65

9939.78

1972.12

25%

HSBC Mutual Fund

7274.05

8812.36

1538.30

21%

Union Mutual Fund

2902.28

3416.22

513.94

18%

IIFL Mutual Fund

485.43

564.70

79.27

16%

BNP Paribas Mutual Fund

5097.06

5890.89

793.82

16%

PPFAS Mutual Fund

613.57

696.12

82.55

13%

IDBI Mutual Fund

6834.70

7718.95

884.24

13%

Shriram Mutual Fund

37.16

40.55

3.38

9%

Peerless Mutual Fund

985.24

1061.86

76.62

8%

PRINCIPAL Mutual Fund

5242.28

5346.83

104.55

2%

Escorts Mutual Fund

285.59

242.56

-43.02

-15%

Sahara Mutual Fund

99.29

67.26

-32.02

-32%

Taurus Mutual Fund

3948.58

1876.07

-2072.51

-52%

Based on highest % change

Source: AMFI

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