The assets from B15 cities continue to grow. Data from mutual funds disclosures show that B15 assets from the top ten fund houses stood at Rs.3.16 lakh crorethat is 19% of the total AUM of the top fund houses.
As on September 2017, the assets from the top 10 fund houses were at Rs.17 lakh crore.
The disclosures show that the B15 assets of these fund houses have increased from Rs.2.25 lakh crore to Rs.3.16 lakh crore in September 2017, a healthy growth of 41% over the last year.
Among these fund houses, HDFC Mutual Fund has the highest AUM of Rs.55,548crore from B15 cities. Nearly, 21% of its total AUM came from B15 cities while its assets from the smaller cities increased by 33% in the last one year.
UTI Mutual Fund had the highest B15 assets of Rs.43,090 crore in September 2016.However, in terms of geographical spread of AUM, UTI Mutual Fund still holds the highest proportion of B15 assets. Data shows that 33% of its assets came from B15 location with AUM of Rs.49,359 crore.The fund house saw a 14% rise in its assets from the B15 locations in the past one year.
Experts say that strong distribution channel and track record have helped the fund house grow their assets from the smaller locations. UTI has over 130 branches in B15 cities and has over 300 business development agents (BDAs) across India as on March 2017.
Reliance Mutual Fund follows UTI Mutual Fund. Assets from the B15 citiesof the fund house stood at Rs.47,350 crore or 20% of their overall AUM.
Other fund house such as Axis Mutual Fund, SBI Mutual Fund and Franklin Templeton Mutual Fund recorded impressive presence in hinterlands. The proportion of their B15 assets to their overall assets stood at 29%, 23%, and 19% respectively as on September 2017.
B15 AUM of the top ten fund houses
Fund house |
September 2017 |
September 2016 |
% change of B15 AUM |
||||
AAUM |
B15 AUM |
% of its total AUM |
AAUM |
B15 AUM |
% of its total AUM |
||
HDFC MF |
2,69,781
|
55,548
|
20% |
213,086
|
41,573.08
|
20%
|
33% |
UTI MF
|
1,50,669
|
49,359
|
33%
|
127,333
|
43,089.49
|
34% |
14% |
Reliance MF
|
2,31,425
|
47,349
|
20%
|
183,129 |
37,797.8256 |
21%
|
25%
|
SBI MF
|
1,88,030.00
|
44,112
|
23%
|
131,554
|
26,508.13
|
20%
|
66% |
ICICI Prudential MF |
2,79,066.00
|
39,069
|
14%
|
215,986
|
25,918.32
|
12%
|
50% |
Aditya Birla Sun Life MF |
2,24,650
|
26,958
|
12%
|
168,881
|
22,072.75
|
13%
|
22% |
Axis MF
|
69,088
|
20,284
|
29%
|
47,179
|
14,422.62
|
30%
|
40% |
DSP BlackRock MF |
77,819 |
8,560 |
11% |
49,852 |
4,486.68
|
9% |
91% |
Kotak Mahindra MF |
1,10,630
|
6,638
|
6%
|
70,387 |
3,519.35
|
5% |
88% |
Total |
16,95,905
|
3,16,202
|
18.6% |
12,81,053
|
2,32,479 |
18.1% |
36% |
Source: company disclosure
Figures in Rs.crore