HDFC MF and ICICI MF top the equity league in T30 cities

HDFC MF leads in managing equity assets in T30 cities. HDFC MF’s total average equity AUM in T30 cities stood at Rs 1.08 lakh crore in March. Of this, nearly Rs 73,858 crore of equity AUM has come via non associate distributors, Rs 10,366 crore through associate distributors and the remaining Rs 24,414 lakh crore via the direct route.

ICICI Prudential MF is the second largest fund house in this list. The fund house has missed the top spot by a whisker with an equity AAUM of Rs 1.04 lakh crore in T30 cities. Like HDFC MF, ICICI Pru MF also relies considerably on non-associate distributors. The fund house has garnered Rs 63,292 via non-associate distributors, Rs 15,940 through associate distributors and Rs 25,426 from the direct route.     

India’s largest fund house SBI MF is in the third position with Rs 60,006 crore of equity assets in B30 cities. Other top fund houses in this list include Aditya Birla Sun Life MF, Kotak MF and Nippon India MF.

While ABSL MF’s equity AAUM in T30 stood at Rs 55,128 crore, Kotak MF’s at Rs 53,488 crore and Nippon India MF’s at Rs 52,082 crore.

Here are a few more interesting facts:

• JM Financial MF, HSBC MF, IIFL MF and Edelweiss MF are among the fund houses whose equity assets are highly concentrated in T30 cities
• JM Financial MF’s 94% equity assets come from T30 cities. For HSBC MF, the number stands at 92%,  IIFL MF at 91% and Edelweiss MF at 90%
• Overall, there are 17 fund houses which accumulate more than 80% of their equity assets from T30 cities