HDFC MF, Reliance MF and Franklin Templeton record a fall in their assets under management during January-March 2011
Mumbai: The two largest fund houses, Reliance Mutual Fund and HDFC MF witnessed a drop in their average assets under management to the tune of Rs 2090 crore in the Jan-Mar quarter as per latest data released by AMFI today.
Among the top fund houses, Reliance MF, HDFC MF and Franklin Templeton MF saw their corpus sliding by Rs 490 crore, Rs 1,601 crore, and Rs 1,560 crore respectively compared to previous quarter. During the same period, Sensex has gained 19 per cent.
ICICI Mutual Fund witnessed the highest growth of Rs 7,625 crore in Jan-Mar 2011 quarter taking its AUM to Rs 73,466 crore from Rs 65,841 crore during Oct-Dec 2010. Birla Sun Life was the second highest to record a growth of Rs 6,007 crore which saw its AUM bulging to Rs 63,696 crore from Rs 57,689 crore during the same period.
Kotak’s corpus increased to Rs 32,202 crore in January 2011-March 2011 from Rs 27,565 in October-December 2010 quarter. “Most of the growth has been in the money market segment due to the liquidity overhang in the market,” says Sandesh Kirkire, CEO, Kotak Mutual Fund.
Fund houses stopped disclosing monthly AUM details post September 2010 due to excessive media attention attracted by these numbers. Fund houses argued that quarterly data provided a fairer picture of their corpus.
DSP Black Rock, Tata and IDFC together added Rs 8,430 crore in their kitty. The AUM details of fund houses like SBI, Motilal Oswal and Baroda Pioneer were not available at the time of writing.
Losers
LIC MF recorded the steepest fall of Rs 7,499 crore followed by JP Morgan which saw its assets dwindling by Rs 1786 crore compared to last quarter. Other midsized AMCs also saw their corpus shrinking.
Other fund houses that saw a decline in their assets are JM Financial, Principal, BNP Paribas, HSBC, Morgan Stanley, Bharti AXA and Sahara.
Gainers
IDBI, L&T, Quantum, Benchmark, Canara Robeco, Deutsche and Religare were among the funds houses which saw their asset size bulge. Axis Mutual Fund continued to grow its assets by Rs 3,289 crore from Rs 5,013 crore in Oct 2010-Dec 2010 to Rs 8,302 crore during January-March 2011.
