The average AUM of mutual funds is down 19 per cent from the peak of Rs 8, 03,559 crore in May 2010
Mumbai: The average AUM of the mutual fund industry fell by a further 5.31 per cent to Rs 6,75,377 crore during the quarter ended December 31, 2010 from Rs 7,13,281 crore a quarter earlier.
After ending the earlier practice of monthly disclosure, this was the first time AMFI disclosed AUM of the industry.
The average AUM is down 19 per cent from the peak of Rs 8, 03,559 crore in May 2010.
Of the 41 mutual fund houses, the average AUM of 33 shrunk during October-December 2010 quarter apparently on account of withdrawals by companies to pay advance tax and by banks to meet their liquidity needs.
Source: AMFI
Since AMFI did not provide average AUM figures for equity and debt categories separately, it could not be known how assets moved in equity and debt categories.
The top five fund houses – Reliance MF, HDFC MF, ICICI Prudential MF, UTI MF and Birla saw their average AUM fall in the October-December 2010 quarter.
Birla Sun Life MF had the highest percentage drop in the average AUM. Reliance MF continued to be the top fund house with average AUM of Rs 1,02,066 crore, followed by HDFC MF and ICICI Pru MF.
Top five see a fall
|
AMC Name |
Average AUM December 2010 (Rs Crore) |
Average AUM September 2010 (Rs Crore) |
Fall in Average AUM (Rs Crore) |
Percentage Fall |
|
Reliance Mutual Fund |
102,066 |
107,748 |
-56,822 |
5.27 |
|
HDFC Mutual Fund |
87,883 |
93,105 |
5,222 |
5.61 |
|
ICICI Prudential Mutual Fund |
65,840 |
69,727 |
3,886 |
5.57 |
|
UTI Mutual Fund |
65,387 |
67,617 |
2,230 |
3.3 |
|
Birla Sun Life Mutual Fund |
57,689 |
67,421 |
9,731 |
14.43 |
Source: AMFI
Among the larger fund houses, only DSP Blackrock MF saw an increase in its average AUM. Its assets increased by 3.73 per cent.
Pramerica MF saw a sharp 76 per cent rise in its average to Rs 1,108 crore helped largely by the NFO of its equity schemes in December. The other fund houses which saw an increase it their average AUM include Mirae Asset MF (19.21 per cent), Benchmark MF (17.16 per cent), AXIS MF (8.13 per cent), Fidelity MF (4.28 per cent), Escort MF (2.75 per cent), Principal MF (2.17 per cent), Sundaram MF (2.02 per cent) and BNP Paribas (1.13 per cent).
Fund houses like JP Morgan MF, Baroda Pioneer MF, Bharti AXA MF and Sahara MF saw their average AUM fall by more than 20 per cent. Shinsei MF lost more than 50 per cent of its assets in the quarter ended December 31, 2010.
