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SBI MF, ICICI Prudential MF and HDFC MF cemented their top three positions in MF rankings, shows the yearly analysis of average AUM data.
With an 11% annual growth, SBI MF’s assets grew by Rs. 70,094 crore to Rs. 7.17 lakh crore as on March 2023. Notably, this is the highest growth in absolute terms across all fund houses.
The next top two fund houses - ICICI Prudential MF and HDFC MF grew by 7% and 4% with average AUM of Rs. 5 lakh crore and Rs. 4.50 lakh crore, respectively.
Overall, there were two changes in the top 10 rankings.
Nippon India MF and Aditya Birla Sun Life MF swapped positions to occupy the fourth and sixth positions respectively. And, Mirae Asset MF overtook DSP MF to enter the top ten list at the tenth spot.
In percentage terms, WhiteOak Capital MF was the fastest-growing fund house. Its assets grew over 20x. quant MF, Samco MF and Navi MF grew by over 100% and were the next three fastest-growing fund houses. This growth is largely attributed to the modest asset base of each fund house.
