After Birla Sun Life and UTI, SBI MF has reached Rs. 1 lakh crore AAUM club in December 2015.
Now, there are a total of six fund houses which manage more than Rs. 1 lakh core. These six fund houses (HDFC, ICICI Prudential, Reliance, Birla Sun Life, UTI and SBI) collectively manage Rs. 8.50 lakh crore or 63% of industry’s total AAUM.
Thanks to inflows in existing equity funds, particularly in SBI Nifty ETF and SBI Sensex ETF, SBI MF’s AAUM increased from Rs. 88,628 crore in September 2015 to Rs. 1 lakh crore in December 2015, shows the latest AMFI data. The Labour Ministry has started investing 5% of the incremental corpus of Employee Provident Fund Organization (EPFO) in equity markets through SBI MF ETFs. This helped SBI record the highest growth in AAUM (Rs. 11,427 crore) in December quarter. “We have received inflows in equity funds and ETFs. Our SIP book has increased from Rs. 125 crore in March 2015 to Rs. 250 crore now,” said Dinesh Khara, MD & CEO, SBI Mutual Fund.
After SBI, HDFC MF recorded the second highest jump in AAUM in December quarter. Its AAUM went up from Rs. 1.70 lakh crore in September to Rs. 1.78 lakh crore in December 2015. It continued to hold the mantle of being the largest fund house, in terms of AAUM.
ICICI Prudential was the third highest AAUM gainer. Its AAUM went up from Rs. 1.64 lakh crore to Rs. 1.72 lakh crore during the same period. Reliance and Birla Sun Life added Rs. 4,028 crore and Rs. 3,157 crore respectively to their kitty.
All in all, 18 fund houses saw a dip in their AAUM. Franklin Templeton and JP Morgan saw the highest dip in AAUM in December quarter. FT and JP Morgan saw their AAUM dip by Rs. 6,548 crore and Rs. 4,954 crore respectively. Distributors attribute this dip to the redemptions seen by both fund houses in their debt funds.
AAUM growth of top 15 AMCs in December quarter
The year 2015 ended on a positive note as the industry’s AAUM reached an all-time high of Rs. 13.40 lakh crore in December, growing by 2% from 13.15 lakh crore to Rs. 13.40 lakh crore in December quarter.
