SBI MF, HDFC MF and ICICI Prudential MF are the B30 kings

SBI MF, HDFC MF and ICICI Prudential MF dominate the B30 asset base, reveals an analysis done by Cafemutual.

SBI MF manages the highest assets of Rs.2.55 lakh crore from B30 cities. It derives 23% of its total assets from these locations.

While ICICI Prudential MF manages AUM of Rs.1.52 lakh crore from B30 cities, HDFC MF is not so far behind with B30 assets of Rs.1.43 lakh crore in September 2024.

Following the top three are Nippon India MF and UTI MF who occupy the next two positions with B30 assets of Rs 1.15 lakh crore and Rs 72,282 crore, respectively.

Aditya Birla Sun Life MF (Rs 71,061 crore), Axis MF (Rs 63,485 crore), Kotak MF (Rs 58,668 crore), Tata MF (Rs 32,176 crore), and Mirae Asset MF (Rs 31,169 crore) round up the top ten fund houses in the B30 space.

If we look at the proportion of total B30 asset with respect to the total AUM, 15 fund houses have over 20% of their total AUM in B30 cities.

Groww MF takes the lead with 30% coming from B30 cities. Union MF at 28.95% and Quant MF closely follow Groww MF with a high B30 AUM proportion of 29% each.

NJ MF (24.80%), Navi MF (24.55%), and BOI MF (24.30%) also show significant B30 presence. Other notable fund houses with over 20% B30 asset proportion include Canara Robeco MF (23.62%), PPFAS MF (22.46%) and SBI MF (22.63%).

Overall, the MF industry derives 19% of its total assets from B30 cities.

Let us look at the table to know more: