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Debt funds continued to struggle in the first quarter of FY 2023 as investors pulled out money amid high interest rate risk. The average quarterly AUM of top 30 debt fund houses declined 6% from Rs. 14.80 lakh crore in Q4 FY 2022 to Rs. 13.90 lakh crore in Q1 FY 2023, shows an analysis of quarterly AUM data of fund houses.
SBI remains the leader in the debt space despite an 8% decline in AUM at Rs. 2.04 lakh crore. ICICI Prudential has climbed one spot in the rankings to occupy the second place with an AUM of Rs. 1.93 lakh crore. HDFC, Aditya Birla Sun Life and Kotak Mahindra are the other fund houses to feature in the top 5 list.
In the top 30, only eight fund houses managed to record a growth in debt AUM. BOI AXA recorded highest growth at 17%, followed by HSBC (16.5%), IIFL (12.6%) and Edelweiss (11%).
In absolute terms, Tata recorded the highest growth as its AUM went up by Rs. 2,420 crore.
Average quarterly AUM of top 30 debt fund houses (in Rs crore):