ICICI Pru and HDFC MF cross Rs. 2 lakh crore AAUM mark in September quarter

ICICI Prudential and HDFC recorded the highest absolute growth in assets in September quarter, shows the latest AMFI data.

ICICI Prudential held its number one mantle as its assets increased to Rs. 2.15 lakh crore in September, an increase of Rs. 22,689 crore from the previous quarter. Talking about this achievement, Nimesh Shah, MD & CEO, ICICI Pru MF says, “AAUM is a function of fund performance. If you are doing a good job for investors, your value will definitely go up. Many surveys suggest that investors look for brand and past performance while investing.”

ICICI Pru’s closest competitor HDFC MF’s AUM increased by Rs. 20,309 crore from Rs.1.92 lakh crore in June to Rs. 2.13 lakh crore in September, a growth of 10%.

The top ten AMCs recorded an average growth of 11% in their assets in September quarter. Consequently, the AAUM of the top ten AMCs grew from Rs. 11.60 lakh crore in June to Rs. 12.90 lakh crore in September.

Birla Sun Life MF held its fourth position in the AAUM pecking order with a growth of 13%, from Rs.1.49 lakh crore in June to reach Rs.1.68 lakh crore in the September quarter.

In terms of percentage, DSP BlackRock witnessed the highest growth of 20% in its AAUM among the top ten fund houses. It’s AAUM increased by Rs. 8,436 crore in September quarter.

Other fund houses which recorded a healthy growth in AAUM were Axis (15%), L&T MF (15%), Mirae Asset (31%), Motilal Oswal (17%) and Invesco (18%).

Thanks to the healthy growth recorded by most fund houses, the industry’s AUM reached a new high of Rs. 16.10 lakh crore in September.

AAUM growth of top 10 AMCs in September quarter

Source: AMFI Rs. crore