Despite a 5% drop in Sensex during the December quarter, the MF industry’s assets jumped by 5% or Rs. 82,610 crore during the same period. As a result, the total AAUM of the industry increased from Rs. 16.10 lakh crore in September to Rs. 16.93 lakh crore in December.
AMFI data shows that open end income funds and equity funds helped the industry’s asset base soar. In October and November (data for December is not published yet), open end income funds received total net inflow of Rs. 70,431 crore while equity funds (including balanced funds, ETFs and ELSS) received Rs. 29,260 crore net inflow. Interestingly, a predominant share of this inflow has come in existing funds.
Not surprisingly, the top ten AMCs accounted for a major share of the Rs. 82,610 crore inflow received by the industry. For instance, India’s largest fund house by assets ICICI Pru saw its AAUM increase by Rs. 12,003 crore in December quarter. The fund house now manages Rs. 2.27 lakh crore. The third largest fund house Reliance MF received the highest (absolute terms) net inflow of Rs. 12,717 crore. Birla Sun Life MF received the third highest net inflow of Rs. 11,928 crore. The top 10 AMCs account for 81% of industry’s AAUM.
AAUM growth December quarter
|
AMC |
AUM Sep-16 |
Dec-16 |
Change Absolute |
Change % |
|
ICICI Prudential |
2,15,986 |
2,27,989 |
12,003 |
6% |
|
HDFC |
2,13,086 |
2,21,825 |
8,738 |
4% |
|
Reliance |
1,83,129 |
1,95,845 |
12,717 |
7% |
|
Birla Sun Life |
1,68,881 |
1,80,808 |
11,928 |
7% |
|
SBI |
1,31,554 |
1,40,997 |
9,443 |
7% |
|
UTI |
1,27,333 |
1,29,389 |
2,056 |
2% |
|
Kotak Mahindra |
70,387 |
82,135 |
11,748 |
17% |
|
Franklin Templeton |
73,666 |
75,783 |
2,117 |
3% |
|
DSP BlackRock |
49,852 |
58,357 |
8,506 |
17% |
|
IDFC |
56,656 |
57,998 |
1,341 |
2% |
|
Axis |
47,179 |
49,281 |
2,101 |
4% |
|
Tata |
39,691 |
38,271 |
-1,420 |
-4% |
|
L&T |
32,667 |
35,191 |
2,524 |
8% |
|
Sundaram |
26,700 |
27,013 |
313 |
1% |
|
DHFL Pramerica |
24,473 |
24,807 |
334 |
1% |
|
Source: AMFI Rs. Cr |
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In percentage terms, Edelweiss saw the highest jump (203%) in its asset base, helped by the acquisition of JP Morgan schemes which added over Rs. 5,000 crore to its kitty. The fund house now manages Rs. 6,826 crore.
The new entrant Mahindra recorded the second highest absolute growth of 53% on a low base. Its AUM jumped from Rs. 950 crore in September to Rs. 1,457 crore in December. The third highest increase was seen by Indiabulls AMC. Its assets jumped increased by 52% from Rs. 6,731 crore to Rs. 10,227 crore.
Of the 39 AMCs (excluding IDFs), 13 fund houses saw a dip in their AUM.
