ICICI Prudential is now the second largest fund house

ICICI Prudential moved one step ahead in the average assets under management (AAUM) pecking order in March quarter. It has become the second largest fund house by adding Rs. 18,987 crore assets last year, shows the latest AMFI data. Its AAUM reached Rs. 1.06 lakh crore in March 2014, up 22% from Rs. 87,835 crore in March 2013.

Reliance MF’s AAUM is trailing slightly behind ICICI Prudential at Rs. 1.03 lakh crore. The fund house added Rs. 8,962 crore last year. Its AAUM touched Rs. 1.03 lakh crore in March 2014, up 9% from Rs. 94,580 crore in March 2013.

HDFC Mutual Fund retained its top position as the largest fund house by assets. The fund house added Rs. 11,243 crore last year. Its AAUM reached Rs. 1.12 crore in March 2014 from Rs. 1.01 lakh crore in March 2013.

Top AAUM gainers

ICICI Prudential gained the maximum assets at Rs. 18,986 crore. The second largest gainer was Birla Sun Life at Rs. 12,004 crore, followed by HDFC (Rs. 11,242 crore), and SBI (Rs. 10,594 crore).  

All in all, 23 fund houses saw an increase in their AAUM while 20 saw their assets deplete.

Canara Robeco, Kotak,  Indiabulls, Principal, JM Financial, Taurus and Goldman Sachs lost in excess of Rs. 1,000 crore AAUM each.      

The industry’s assets went up 5% or Rs. 44,008 crore to Rs. 9.04 lakh crore in March 2014 from Rs. 8.60 lakh crore in March 2013. The rise in AUM was mainly on account of inflows in debt funds. According to SEBI data, the industry has received net inflows of Rs. 1.73 lakh crore from April till February 2014 in debt funds.

Top 10 AMCs