Even as a slew of defaults and downgrades spelt trouble for the mutual fund industry, the industry as a whole continues to grow at a healthy pace.
Between April and June, the average AUM of the MF industry increased by Rs.1.02 lakh crore to reach Rs.25.50 lakh crore, shows recent AMFI data. In percentage terms, the average AUM of the MF industry grew at 4% as against the last quarter. This is the highest growth rate in more than a year.
Quarterly AUM is the average assets of the entire quarter, which is calculated by factoring in all working days of three months.
Top players
AMFI data on quarterly AUM shows that HDFC MF, ICICI Prudential MF and SBI MF continue to remain the top three fund houses.
While HDFC MF manages assets of Rs. 3.63 lakh crore, ICICI Prudential MF and SBI MF have AUM of Rs. 3.37 lakh crore and Rs.3.08 lakh crore as on June 2019, respectively. However, in absolute terms, SBI MF saw highest growth by adding close to Rs.24,000 crore to its AUM kitty crore last quarter.
Top 15
Among the top 15 fund houses, Axis MF (14%), IDFC MF (19%) and Mirae Asset MF (21%) gained significantly in percentage terms. This staggering rise in assets helped IDFC MF become the 10th largest fund house (based on AUM). At the end of March quarter, IDFC MF was the 12th largest fund house.
Axis MF and Mirae Asset MF, on the other hand, retained their rank of 9th and 15th in the industry.
Among other notable gainers was Kotak Mahindra MF. Despite the FMP rollover, the fund house moved up one position to become the 6th largest MF.
However, four fund houses witnessed a decline in their average AUM last quarter. Reliance MF led this chart with 5% decline in its average AUM while UTI MF, DSP MF and Tata MF saw 1% decline in their assets.
Here are a few other notable trends –
- The top five – HDFC MF, ICICI Prudential MF, SBI MF, Aditya Birla Sun Life MF and Reliance MF – retained their positions.
- Among the emerging fund houses, PPFAS MF (17%) and Quant MF (10%) witnessed double-digit growth in their AUM.
- JM Financial MF, IDBI MF, DHFL Pramerica MF, BOI AXA MF, Yes MF and Essel MF were among the fund houses that registered a sharp decline in their average AUM.
Average AUM
|
Mutual Fund Name |
Average AUM in Apr-Jun 2019 (In crore) |
Average AUM in Jan-Mar 2019 (In crore) |
Difference |
Differenece (in %) |
|
HDFC Mutual Fund |
3,62,538.4 |
3,42,290.6 |
20,247.9 |
6% |
|
ICICI Prudential Mutual Fund |
3,37,286.8 |
3,20,792.9 |
16,493.9 |
5% |
|
SBI Mutual Fund |
3,07,533.9 |
2,83,806.7 |
23,727.2 |
8% |
|
Aditya Birla Sun Life Mutual Fund |
2,53,965.3 |
2,46,479.7 |
7,485.6 |
3% |
|
Reliance Mutual Fund |
2,22,575.7 |
2,33,616.8 |
-11,041.1 |
-5% |
|
Kotak Mahindra Mutual Fund |
1,61,209.1 |
1,50,099.4 |
11,109.7 |
7% |
|
UTI Mutual Fund |
1,57,865.9 |
1,59,694.2 |
-1,828.4 |
-1% |
|
Franklin Templeton Mutual Fund |
1,24,967.4 |
1,18,912.2 |
6,055.1 |
5% |
|
Axis Mutual Fund |
1,02,221.1 |
89,720.1 |
12,501.1 |
14% |
|
IDFC Mutual Fund |
82,279.1 |
69,352.0 |
12,927.2 |
19% |
|
DSP Mutual Fund |
77,619.0 |
78,362.7 |
-743.7 |
-1% |
|
L&T Mutual Fund |
73,496.7 |
70,944.4 |
2,552.3 |
4% |
|
Tata Mutual Fund |
53,640.7 |
54,193.6 |
-552.9 |
-1% |
|
Sundaram Mutual Fund |
31,220.1 |
30,497.3 |
722.9 |
2% |
|
Mirae Asset Mutual Fund |
29,260.9 |
24,191.3 |
5,069.6 |
21% |
|
Invesco Mutual Fund |
24,635.4 |
23,990.4 |
645.0 |
3% |
|
Motilal Oswal Mutual Fund |
19,640.1 |
19,090.4 |
549.7 |
3% |
|
LIC Mutual Fund |
16,293.9 |
15,239.9 |
1,054.0 |
7% |
|
Canara Robeco Mutual Fund |
15,851.6 |
14,583.4 |
1,268.2 |
9% |
|
Edelweiss Mutual Fund |
12,128.2 |
11,665.1 |
463.1 |
4% |
|
HSBC Mutual Fund |
11,607.9 |
11,054.0 |
553.9 |
5% |
|
Baroda Mutual Fund |
11,180.5 |
11,319.7 |
-139.2 |
-1% |
|
JM Financial Mutual Fund |
7,710.1 |
8,712.4 |
-1,002.3 |
-12% |
|
Principal Mutual Fund |
7,279.8 |
7,090.7 |
189.1 |
3% |
|
BNP Paribas Mutual Fund |
7,243.5 |
7,209.2 |
34.3 |
0% |
|
IDBI Mutual Fund |
6,456.6 |
9,265.8 |
-2,809.2 |
-30% |
|
DHFL Pramerica Mutual Fund |
5,411.6 |
7,627.3 |
-2,215.7 |
-29% |
|
Mahindra Mutual Fund |
4,971.8 |
4,748.1 |
223.7 |
5% |
|
Indiabulls Mutual Fund |
4,530.0 |
4,807.9 |
-277.9 |
-6% |
|
Union Mutual Fund |
4,307.0 |
4,259.1 |
47.9 |
1% |
|
BOI AXA Mutual Fund |
3,127.9 |
3,626.5 |
-498.6 |
-14% |
|
PPFAS Mutual Fund |
2,116.0 |
1,805.2 |
310.8 |
17% |
|
IL&FS Mutual Fund (IDF) |
1,523.4 |
1,592.9 |
-69.4 |
-4% |
|
IIFL Mutual Fund |
1,522.6 |
1,640.3 |
-117.7 |
-7% |
|
Quantum Mutual Fund |
1,443.9 |
1,360.4 |
83.5 |
6% |
|
YES Mutual Fund |
1,421.4 |
2,000.1 |
-578.7 |
-29% |
|
Essel Mutual Fund |
1,040.5 |
1,416.4 |
-375.9 |
-27% |
|
Taurus Mutual Fund |
434.9 |
424.2 |
10.7 |
3% |
|
quant Mutual Fund |
216.7 |
196.2 |
20.5 |
10% |
|
Shriram Mutual Fund |
132.6 |
123.7 |
8.8 |
7% |
|
Sahara Mutual Fund |
53.9 |
54.7 |
-0.8 |
-1% |
|
IIFCL Mutual Fund (IDF) |
- |
580.0 |
-580.0 |
-100% |
|
ITI Mutual Fund |
- |
- |
- |
|
|
SREI Mutual Fund (IDF) |
- |
- |
- |
|
|
Total |
25,49,961.9 |
24,48,437.7 |
1,01,524.3 |
4% |
