SBI, Reliance and ICICI Prudential recorded the highest growth in their average assets under management in June quarter, shows the latest AMFI data.
Among the top 10 AMCs, SBI MF recorded the highest growth in assets in absolute terms. Its AAUM went up by Rs. 8,751 crore from Rs. 74,942 crore in March to Rs. 83,693 crore in June. After SBI, Reliance saw the second highest AAUM growth in absolute terms as its assets went up by Rs. 7,569 crore during the same period. The third largest AAUM absolute growth was recorded by ICICI Prudential, which saw its asset base grow by Rs. 6,963 crore.
AAUM growth of top 15 AMCs (March – June)
Among the top 10 players, Kotak recorded the highest growth in its assets in percentage terms. Its assets went up by 16% from Rs. 41,378 crore in March to Rs. 48,077 crore in June. In absolute terms, Kotak saw the fourth highest growth after SBI, Reliance and ICICI Prudential.
Manish Mehta, National Head of Sales & Distribution Alliances, Kotak MF said that his fund house has received inflows across all categories. “We saw good participation in short term fixed income category. With the 10 year G-Sec trading close to 8% post RBI policy, clients also participated in long duration funds. Accrual funds saw good participation from retail and HNI clients. Equity has continued to attract inflows across market capitalization. We believe the industry will continue to see inflows across segments.”
Barring UTI and DSPBR, all the players in the top ten space recorded a growth in their assets. The top ten players collectively manage Rs. 9.80 lakh crore (79%) of industry’s total Rs. 12.27 lakh crore assets.
HDFC retained its mantle of being the largest fund house by assets. Its AAUM went up by 2% from Rs. 1.61 lakh crore to Rs. 1.65 lakh crore during the same period. There are four AMCs in the Rs. 1 lakh crore AAUM club - HDFC, ICICI Prudential, Reliance and Birla Sun Life.
All in all, 21 AMCs saw a dip in their AUM. The AAUM numbers of PPFAS, Escorts and SREI were not available yet.
The industry’s AAUM increased by Rs. 38,959 crore in June quarter to touch Rs. 12.27 lakh crore in June from Rs. 1.18 lakh crore in March.
Domestic fund of funds were excluded.
