SBI leads ETF segment, UTI dominates index fund space

SBI, UTI and Nippon India are the top three passive players in the MF industry. They together manage almost 75% of the total passive assets of the industry, shows an analysis of quarterly average AUM (September quarter) disclosed by the fund houses.

With a passive AUM of Rs 1.72 lakh crore, SBI alone manages almost half of the total passive assets of the industry. SBI's dominance in passive space is a result of big inflows from government controlled retirement and pension funds into its ETFs.

UTI MF is second with an AUM of Rs 52,519 crore. Nippon India MF comes in at third with an AUM of Rs 39,734 crore.

UTI is the leader in the index fund space, followed by HDFC and ICICI Prudential. The ETF segment is dominated by SBI, UTI and Nippon India.

*All numbers are in Rs crore

*Franklin Tempeton MF and Baroda MF along with several smaller players are yet to disclose passive AUM for the previous quarter. They have not been included in the above table

Fastest growing players

Among the top 10, Mirae Asset and Motilal Oswal are growing at the fastest pace. Their AUM went up 74% and 34% respectively in a matter of one quarter (Q1 FY2022 to Q2 FY2022).

In the previous quarter, the top player SBI's AUM went up 17% to Rs 1.72 lakh crore from 1.47 lakh crore in the June quarter. The next two — UTI and Nippon India — registered a growth of 19% and 13% respectively.

*All numbers are in Rs crore