MF News Who are the top equity players in the Indian MF industry?

Who are the top equity players in the Indian MF industry?

SBI MF, ICICI Pru MF and HDFC MF are the top three fund houses in terms of equity assets.

Riddhima Bhatnagar Aug 2, 2024

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An analysis of AUM data done by Cafemutual shows that SBI, ICICI Prudential and HDFC are the top three players in terms of equity assets in June 2024. These three fund houses account for 43% of the total equity assets of the industry by managing equity assets of Rs.17.50 lakh crore among them.

Here, we have considered the AUM of pure equity funds, equity-oriented hybrid funds, equity focused solution-oriented schemes, equity index funds and equity ETFs to arrive at equity AUM. We have excluded AUM of arbitrage funds.

SBI MF continues to lead the ranking table with the highest equity AUM of Rs. 7.45 lakh crore. The fund house derives 74% of its total assets from equity funds.

ICICI Prudential MF and HDFC MF are next two fund houses with equity assets of Rs. 5.13 lakh crore and Rs. 4.87 lakh crore, respectively. ICICI MF derives 66% of its total assets from equity assets whereas such a contribution is 69% for HDFC MF.

Nippon India MF and UTI MF occupy fourth and fifth positions with equity AUM of Rs. 3.04 lakh crore and Rs. 2.36 lakh crore, respectively.

Kotak MF, Axis MF, Aditya Birla MF, Mirae Asset MF and DSP MF are the next five fund houses in terms of equity AUM.

In terms of proportion of total assets to the MF AUM, Old Bridge MF, Tauras MF and Samco MF are the top 3 fund houses.

Overall, fund houses collectively manage equity assets of Rs. 40.29 lakh crore.

Let us look at the table to get more information:

S.no	Fund house	Pure equity AUM+ ELSS+ solution- oriented schemes	Aggressive hybrid funds+ balanced advantage funds	Equity index+ ETFs	Total Equity AUM	Total AUM	% of Equity AUM
1	SBI	3,33,514	1,00,944	3,10,659	7,45,117	10,21,091	72.97
2	ICICI Prudential	2,82,733	1,47,621	83,110	5,13,464	7,72,920	66.43
3	HDFC	3,29,131	1,19,395	39,124	4,87,650	7,00,155	69.65
4	Nippon India	2,22,870	17,759	64,275	3,04,904	5,09,318	59.87
5	UTI	1,13,590	8,637	1,14,358	2,36,585	3,23,824	73.06
6	Kotak	1,81,122	34,307	10,242	2,25,671	4,36,498	51.70
7	Axis	1,81,377	6,016	4,423	1,91,816	2,97,193	64.54
8	Aditya Birla Sun Life	1,34,646	19,003	7,669	1,61,318	3,61,847	44.58
9	Mirae Asset	1,36,653	13,042	4,910	1,54,605	1,77,401	87.15
10	DSP	91,511	15,738	4,364	1,11,613	1,66,085	67.20
11	Canara Robeco	81,336	10,453	0	91,789	99,040	92.68
12	Tata	71,189	16,416	2,617	90,222	1,62,279	55.60
13	Franklin Templeton	84,205	4,462	648	89,315	99,966	89.35
14	Quant	80,984	3,402	0	84,386	89,869	93.90
15	HSBC	66,021	9,085	388	75,494	1,20,479	62.66
16	PPFAS	73,430	0	0	73,430	79,026	92.92
17	Bandhan	44,563	4,603	2,561	51,727	1,47,395	35.09
18	Sundaram	40,618	9135	0	49,753	60,314	82.49
19	Motilal Oswal	35,857	1,224	11,853	48,934	57,894	84.52
20	Invesco	46,700	1,417	86	48,203	87,303	55.21
21	Edelweiss	20,977	13,743	1,025	35,745	1,35,688	26.34
22	Baroda BNP Paribas	17,351	6,403	68	23,822	40,599	58.68
23	PGIM India	20,203	1,432	0	21,635	24,710	87.56
24	Mahindra Manulife	18,908	2,479	0	21,387	24,279	88.09
25	LIC	9,955	1,426	3,357	14,738	32,824	44.90
26	Union	9,990	2,347	0	12,337	16,669	74.01
27	WhiteOak Capital	9,342	1,707	0	11,049	11,583	95.39
28	360 ONE	8,475	731	0	9,206	10,946	84.10
29	ITI	7,165	360	0	7,525	7,949	94.67
30	Bank of India	5,243	1,274	0	6,517	8,617	75.63
31	Bajaj Finserv	4,046	1,935	262	6,243	12,065	51.74
32	JM Financial	5,425	355	0	5,780	8,492	68.06
33	NJ	1,560	3,931	0	5,491	6,074	90.40
34	Navi	328	107	3,700	4,135	6,146	67.28
35	Samco	1,742	587	0	2,329	2,378	97.94
36	Helios	1,536	196	0	1,732	1,834	94.44
37	Quantum	1474	0	56	1,530	2,400	63.75
38	Taurus	829	0	0	829	833	99.52
39	Trust	595	0	0	595	1,418	41.96
40	Zerodha	98	0	451	549	1,939	28.31
41	Groww	232	43	250	525	831	63.18
42	Old Bridge	436	0	0	436	436	100.00
43	Shriram	161	247	0	408	657	62.10
	Grand Total					61,26,864

Pure equity

In terms of pure equity assets, SBI MF leads the pack with pure equity assets of Rs 3.33 lakh crore. HDFC MF and ICICI Prudential MF capture the second and third positions with the AUM of Rs. 3.29 lakh crore and Rs. 2.82 lakh crore, respectively.

Further, Nippon India MF, Axis MF, Kotak MF, Mirae Asset MF, Aditya Birla MF and UTI MF have pure equity assets of over Rs.1 lakh crore.

Let us look at fund houses based on their pure equity AUM:

S.no	Fund house	Pure equity AUM+ ELSS+ solution oriented schemes
1	SBI	3,33,514
2	HDFC	3,29,131
3	ICICI Prudential	2,82,733
4	Nippon India	2,22,870
5	Axis	1,81,377
6	Kotak	1,81,122
7	Mirae Asset	1,36,653
8	Aditya Birla Sun Life	1,34,646
9	UTI	1,13,590
10	DSP	91,511
11	Franklin Templeton	84,205
12	Canara Robeco	81,336
13	Quant	80,984
14	PPFAS	73,430
15	Tata	71,189
16	HSBC	66,021
17	Invesco	46,700
18	Bandhan	44,563
19	Sundaram	40,618
20	Motilal Oswal	35,857
21	Edelweiss	20,977
22	PGIM India	20,203
23	Mahindra Manulife	18,908
24	Baroda BNP Paribas	17,351
25	Union	9,990
26	LIC	9,955
27	WhiteOak Capital	9,342
28	360 ONE	8,475
29	ITI	7,165
30	JM Financial	5,425
31	Bank of India	5,243
32	Bajaj Finserv	4,046
33	Samco	1,742
34	NJ	1,560
35	Helios	1,536
36	Quantum	1474
37	Taurus	829
38	Trust	595
39	Old Bridge	436
40	Navi	328
41	Groww	232
42	Shriram	161
43	Zerodha	98

Equity oriented hybrid funds

If we look at the AUM of aggressive hybrid funds and balanced advantage funds, ICICI MF has the highest AUM of Rs.1.47 lakh crore.

HDFC MF and SBI MF are the next two fund houses with AUM of Rs. 1.19 lakh crore and Rs. 1 lakh crore, respectively.

Kotak MF, Aditya Birla Sun Life MF and Nippon India MF take the next spots in terms of equity oriented hybrid AUM, respectively.

Let us look at the fund houses in this category:

S.no	Fund house	Aggressive hybrid funds+ balanced advantage funds
1	ICICI Prudential	1,47,621
2	HDFC	1,19,395
3	SBI	1,00,944
4	Kotak	34,307
5	Aditya Birla Sun Life	19,003
6	Nippon India	17,759
7	Tata	16,416
8	DSP	15,738
9	Edelweiss	13,743
10	Mirae Asset	13,042
11	Canara Robeco	10,453
12	Sundaram	9135
13	HSBC	9,085
14	UTI	8,637
15	Baroda BNP Paribas	6,403
16	Axis	6,016
17	Bandhan	4,603
18	Franklin Templeton	4,462
19	NJ	3,931
20	Quant	3,402
21	Mahindra Manulife	2,479
22	Union	2,347
23	Bajaj Finserv	1,935
24	WhiteOak Capital	1,707
25	PGIM India	1,432
26	LIC	1,426
27	Invesco	1,417
28	Bank of India	1,274
29	Motilal Oswal	1,224
30	360 ONE	731
31	Samco	587
32	ITI	360
33	JM Financial	355
34	Shriram	247
35	Helios	196
36	Navi	107
37	Groww	43

Equity index and ETFs

In terms of passives AUM, SBI MF has the highest passive equity assets of Rs. 3.10 lakh crore. UTI MF and ICICI MF are the next two with AUM of Rs. 1.14 lakh crore and Rs. 83,100 crore, respectively.

Let’s look at the fund houses with highest equity assets in passives:

S.no	Fund house	Equity index+ ETFs
1	SBI	3,10,659
2	UTI	1,14,358
3	ICICI Prudential	83,110
4	Nippon India	64,275
5	HDFC	39,124
6	Motilal Oswal	11,853
7	Kotak	10,242
8	Aditya Birla Sun Life	7,669
9	Mirae Asset	4,910
10	Axis	4,423
11	DSP	4,364
12	Navi	3,700
13	LIC	3,357
14	Tata	2,617
15	Bandhan	2,561
16	Edelweiss	1,025
17	Franklin Templeton	648
18	Zerodha	451
19	HSBC	388
20	Bajaj Finserv	262
21	Groww	250
22	Invesco	86
23	Baroda BNP Paribas	68
24	Quantum	56

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