HDFC Mutual Fund continues to be the top player in equity AUM. The fund house manages a quarterly AUM of Rs.1.24 lakh crore in equity funds as on September 2017, shows the data collated from the AMCs website.
We have included pure equity funds, balanced funds, ELSS and other ETFs in equity funds.
Of the total AUM of Rs.2.70 lakh crore, HDFC MF manages 46% of the assets in equity funds. Equity AUM of the fund house has increased by over 58% from Rs.78,511 crore in September 2016 to Rs.1.24 lakh crore in September 2017. The fund house manages Rs.79,413 crore in pure equity funds.
ICICI Prudential Mutual Fund, which currently manages the largest AUM in the industry, stood at the second position with equity AUM of Rs.1.16 lakh crore. Its equity AUM increased by 56% from Rs. 74,551 crore in the quarter ended September 2016.
SBI MF has overtaken Reliance MF to become the third largest fund house in terms of equity AUM. The total equity AUM of the fund house stood at Rs.93,891 crore in September. Its equity AUM increased by 88% or Rs.44,051 crore in the last one year making the fund house one of the fastest growing fund houses. The growth in its equity AUM is largely due to contribution from EPFO in ETFs.
While the fund house manages Rs.40,052 crore or 43% of total equity AUM in pure equity funds, its AUM in ETFs is Rs.32,000 crore or 32% of total equity AUM.
In terms of percentage, Kotak Mahindra Mutual Fund recorded highest growth in its equity AUM. The fund house witnessed a 102% growth in total equity AUM from Rs.18,255 crore to Rs.36,892 crore in the last one year. Its AUM in pure equity funds witnessed an increase of 94% to 29,830 crore in September.
Pankaj Tibrewal, Fund Manager (Equity), Kotak Mahindra Mutual Fund attributes this growth to fund performance. “Our schemes have been performing quite well from the last two years, encouraging many investors to put faith in us. Thanks to our distribution network both in T15 as well as B15 cities, we have seen growth in our equity AUM,” says Pankaj.
Overall, the total equity AUM of the top 10 fund houses stood at Rs.6.80 lakh crore as on September 2017. This shows that the top 10 fund houses account for nearly 80% of the total equity AUM in the industry. The total equity AUM of the industry stood at Rs.8.50 lakh crore in September 2017.
Fund houses earn from the total expense ratio charged on schemes. Equity funds, which charge higher expenses as compared to debt funds, are more profitable for fund houses. Equity fund including ELSS, balanced funds and ETFs, saw net inflows of Rs.82,047 crore from July to September, which helped AMCs grow their PAT.
Fund House |
AAUM as on September 30, 2017 (in Cr.) |
AAUM as on September 30, 2016 (in Cr.) |
Percentage increase |
HDFC Mutual Fund |
1,24,186 |
78,511 |
58% |
ICICI Prudential Mutual Fund |
1,16,540 |
74,551 |
56% |
SBI Mutual Fund |
93,891 |
49,840 |
88% |
Reliance Mutual Fund |
82,528 |
54,237 |
52% |
Aditya Birla Sun Life Mutual Fund |
68,738 |
40,978 |
68% |
Franklin Templeton Mutual Fund |
50,867 |
39,666 |
28% |
UTI Mutual Fund |
46,063 |
36,883 |
25% |
Kotak Mahindra Mutual Fund |
36,893 |
18,255 |
102% |
DSP BlackRock Mutual Fund |
34,668 |
19,936 |
74% |
Axis Mutual Fund |
25,825 |
16,444 |
57% |
Total |
6,80,200 |
4,29,301 |
58% |
Source: Company disclosure