Public sector MFs have a little over 20 per cent market share but they accounted for 72 per cent of the fall in the industry AUM in the nine months ended December 31, 2010
Mumbai: Public sector mutual funds account for less than 20 per cent of the market share in terms of AUM but the net outflow from their schemes during April-December 2010 was more than two-and-a-half times that of private sector fund houses.
The net outflow from schemes of private sector mutual funds during the nine months ended December 31, 2010 amounted to Rs 8,949 crore, or 1.7 per cent of the AUM on April 1, 2010. The outflow from schemes of public sector mutual funds during the nine-month period was Rs 23,214 crore, or 16.15 per cent of AUM at the start of the financial year, according to data available on the website of SEBI.
Half of the net outflow from public sector mutual fund schemes was on account of UTI Mutual Fund. The outflow from UTI Mutual Fund schemes during the period was Rs 11,678 crore. The AUM of UTI Mutual Fund had declined by 16.50 per cent to Rs 59,068.90 crore during the nine months.
The total net outflow from schemes of both the public sector and private sector asset managers during the nine months was Rs 32,163.69 crore, or five per cent of the total industry AUM of Rs 6,58,477.73 crore at the beginning of 2010-11. The AUM of the industry at the end of December 2010 was Rs 6,26,314.04.
The country’s largest fund house Reliance Mutual Fund saw its average AUM decline by 9 per cent to Rs 1,02,066 crore as on December 31, 2010 from Rs 1,11,819 crore as on April 1, 2010. HDFC MF and ICICI MF, the second and third largest fund houses respectively, witnessed a decline of 7.2 per cent and 20 per cent in their AUM during the nine-month period.
SBI Mutual Fund was the only one among public sector mutual funds to witness an increase in its AUM. Its AUM grew by 4 per cent to Rs 41,498 in the nine months ended December 31, 2010.
