SBI MF, ICICI Prudential MF and HDFC MF hold the highest equity assets, followed by Nippon India MF and UTI MF. As per November-end data collated by Motilal Oswal Securities, SBI MF holds equities worth Rs. 3.58 lakh crore across all its schemes including passive schemes and hybrid funds. SBI MF’s dominance in equity space is partly due to contribution from EPFO in its ETFs.
ICICI Prudential MF comes next with equity holdings of Rs. 2 lakh crore. The fund house is followed by HDFC MF and Nippon India MF, who manage equity assets worth Rs. 1.75 lakh crore and Rs. 1.4 lakh crore, respectively.
The report by Motilal Oswal shows that the valuation of equities held by most mutual funds declined last month. Among the top 10, HDFC MF reported highest contraction in equity valuation at -3.7% in November, followed by ABSL MF and Kotak MF.
Top 20 mutual funds as per equity holdings:
|
Fund House |
Equity assets (in Rs crore) |
MoM change (%) |
YoY change (%) |
|
SBI |
3,58,000 |
-1.5 |
55.7 |
|
ICICI Prudential |
2,02,100 |
-0.9 |
42.7 |
|
HDFC |
1,75,100 |
-3.7 |
20.9 |
|
Nippon India |
1,40,800 |
-2 |
38.2 |
|
UTI |
1,39,200 |
-1.3 |
54 |
|
Axis |
1,37,300 |
-0.3 |
59.1 |
|
Kotak Mahindra |
1,18,700 |
-1.8 |
52.1 |
|
ABSL |
1,09,200 |
-2.8 |
29.5 |
|
Mirae Asset |
85,800 |
-1.1 |
66.1 |
|
DSP |
64,300 |
-2.2 |
41.8 |
|
Franklin Templeton |
50,500 |
-2.8 |
14.1 |
|
Tata |
44,600 |
-0.6 |
65.7 |
|
L&T |
41,600 |
-2.2 |
18 |
|
Canara Robeco |
34,500 |
0.6 |
115.6 |
|
IDFC |
26,300 |
-3 |
15.3 |
|
Invesco |
24,000 |
-1.2 |
57.6 |
|
Sundaram |
23,900 |
-2.7 |
17.6 |
|
Motilal Oswal |
20,600 |
-3.1 |
10.4 |
|
PPFAS |
12,300 |
5.5 |
219.6 |
|
Principal |
8,000 |
-2.9 |
33.4 |
|
Total / Average |
18,16,700 |
-1.7 |
43.8 |
In the last 12 months, top mutual funds have registered a massive growth in equity holdings. Among the top 10 fund houses, Mirae Asset MF and Axis MF witnessed highest growth in equities under management. Overall, PPFAS saw the highest growth at 220% (assets tripled in one year) followed by Canara Robeco MF.
The rankings change if we consider equity-oriented active schemes only. As per the average AUM of September quarter, Axis, ICICI Prudential and SBI are the top three in equity AUM rankings.
