HDFC, ICICI Prudential and SBI are the top three fund houses in FY 2018-19

FY 2018-19 ended on a positive note for HDFC MF and SBI MF. AMFI’s latest data on quarterly AUM shows that HDFC MF, ICICI Prudential MF and SBI MF are the top three fund houses last fiscal. In FY 2017-18, ICICI Prudential MF, HDFC MF and Aditya Birla Sun Life MF were the top three fund houses, respectively.

While HDFC MF manages assets of Rs. 3.42 lakh crore, ICICI Prudential MF has AUM of Rs. 3.21 lakh crore as on March 2019. SBI MF’s AUM grew at 7.36%, highest among the top five AMCs to reach Rs. 2.84 lakh crore. The fund house jumped to third position from fifth position a year back by ovbertaking Aditya Birla Sun Life MF and Reliance MF.

In terms of quarterly AUM growth, SBI MF recorded highest growth in absolute terms by adding assets of Rs.19500 crore. In percentage terms, Axis MF saw 10% growth in its quarterly AUM.

Overall, Quantum Mutual Fund witnessed the highest percentage growth of 222% last quarter largely due to low base effect and increase in distribution commission from 0.15% to 0.50%. The fund house’s AUM grew from Rs.421 crore in December 2018 to Rs.1360 crore in March 2019.

Other emerging fund houses such as Quant MF and Shriram MF recorded a healthy growth of close to 100% last fiscal.

Meanwhile, the quarterly assets under management (AUM) of the mutual fund industry surged to an all-time high of Rs.24.4 lakh crore. AMFI data showed that quarterly AUM of the MF industry grew around 3.6% from the December quarter, when it had recorded 23.6 lakh crore.

The average assets of the entire quarter, calculated by factoring in all working days of three months.

The growth is largely due to sustained inflows in equity funds through SIPs and mark to market gains. While the industry attracted close to Rs.25,000 crore through SIPs in Jan-March 2019, both Nifty and Sensex touched record numbers at the end of FY 2018-19.  

However, the growth in the quarterly AUM was slightly subdued compared to preceding quarters. Experts attribute this to lacklustre performance of most equity funds last fiscal.

Quarterly AUM as on March 2019