Top 10 fund houses record healthy growth in assets during June quarter

The new financial year FY 2016-17 has started on a good note for the top ten fund houses as all of them recorded a growth in their assets under management.

AMFI data shows that the top ten AMCs, in terms of their average assets under management (AAUM), witnessed a growth of 8% in their AUM in the first quarter of FY 2016-17. The AAUM of top ten fund houses grew from Rs. 10.76 lakh crore in March to Rs. 11.60 lakh crore in June.

In absolute terms, ICICI Prudential MF saw the highest growth in its AAUM during June quarter. Its AAUM went up by Rs. 17,415 crore from Rs.  1,75,881 crore in March to Rs. 1,93,296 crore in June. The fund house which recently toppled HDFC MF to become the largest fund houses by assets maintained its number one position. ICICI Prudential pipped HDFC MF in AUM growth by a small margin of close to Rs.400 crore in June quarter.

HDFC MF’s AUM increased by Rs. 16,998 crore in June quarter from Rs. 1,75,779 crore to Rs. 1,92,777 crore, a growth of 10%.

In terms of percentage, SBI MF witnessed the highest growth of 12% in its AAUM among the top ten fund houses. SBI MF’s AUM increased by over Rs. 13,000 crore to reach Rs. 1.20 lakh crore during June quarter.

Among the emerging fund houses, Mirae Asset MF and Motilal Oswal MF saw a healthy growth in assets. Mirae Asset and Motilal Oswal MF saw their AUM grow by 27% and 16% respectively.

Overall, the industry’s AUM increased by 6% from Rs.13.53 lakh crore in March to Rs.14.19 lakh crore June.

AAUM growth of top 10 AMCs in June quarter

Source: AMFI