MFs register double-digit growth in Jul-Sep, AUM reaches Rs.27.60 lakh crore

After a steep decline in AMCs assets in the June quarter, many fund houses registered double digit growth in their AAUM in July-September, shows AMFI data.

SBI MF was the top fund house with highest AAUM of Rs.4.21 lakh crore which constitutes 15% of overall industry’s assets  followed by HDFC MF in second position with AAUM of Rs.3.75 lakh crore and ICICI Prudential MF at third with Rs.3.60 lakh crore.

In percentage terms, SBI MF saw nearly 16% growth in AAUM followed by ICICI Prudential MF (10%), Aditya Birla Sun Life MF (11%) and Nippon India MF (11%). HDFC MF was the only fund house among top 10 AMCs with single digit growth of 5%.

Among the top 10 AMCs, SBI MF, Axis MF and UTI MF registered the highest growth in percentage terms with their AAUM growing 16% each during the September quarter.

Further, among the top 20 fund houses, Edelweiss MF and Mirae Asset MF witnessed highest growth in percentage terms at 45% and 23%, respectively.   

Further, Franklin Templeton MF was the only fund house among top 20 AMCs with negative growth as its AAUM fell by nearly 1% to Rs.79,197 crore.

Experts attribute this growth to mark-to-market gains of 9% last quarter and higher inflows in debt funds.

Mark-to-market gains helped the industry regain its growth momentum, said Radhika Gupta, CEO, Edelweiss MF. “September has been a good quarter as our equity assets are at its highest historic level despite past correction. Also, we have seen good traction in international business, arbitrage funds and ETFs,” said Radhika.  

D.P. Singh, ED & CMO (Domestic), SBI MF said that huge inflows in debt funds from retail as well as institutional investors during the last few months and strong equity book helped the fund house retain its   top position.

Overall, the MF industry quarterly average AUM went up by 12% to reach Rs.27.60 lakh crore.

(AAUM in Rs crore)