Axis MF has the highest equity AUM, HDFC MF a close second

Axis Mutual Fund’s average equity AUM of Rs 1.06 lakh crore was the highest among all mutual funds in the first quarter of FY 2022. HDFC MF, which was at the top in the previous quarter, occupies second spot with assets of Rs 1.04 lakh crore, shows an analysis of quarterly average AUM (QAAUM) data done by Cafemutual.

Equity AUM includes pure equity schemes and ELSS.

ICICI Prudential MF has the third highest equity AUM of Rs 1.02 lakh crore followed by SBI MF with Rs 1.01 lakh crore assets.

In absolute terms, the equity AUM of Axis MF has gone up by Rs 9,060 crore. HDFC MF and SBI MF have seen their AUM go up by Rs 4,927 crore and Rs 7,743 crore, respectively.

The quarter marked the entry of four fund houses — SBI, HDFC, ICICI Prudential and Axis — in the Rs.1-trillion equity AUM club with a 5-9% growth in equity assets. Axis MF has registered the highest growth of 9%.

Mirae Asset, Edelweiss, Invesco, Canara Robeco, PPFAS and PGIM India have posted double digit growth in equity AUM. PGIM India's AUM grew by 48% during the quarter while PPFAS reported a 33% jump in equity assets.

Overall, the top 25 mutual funds manage equity assets worth Rs 10.3 lakh crore as against Rs 9.68 lakh crore in the fourth quarter of FY 2021.

Equity AUM of top 25 MFs (ranked as per overall AUM):

*All numbers are in Rs crore