ICICI Pru MF Joins Rs 1-Trillion Club; HDFC Retains Top Slot - The New Indian Express

ICICI Pru MF Joins Rs 1-Trillion Club; HDFC Retains Top Slot

Published: 02nd April 2014 04:25 PM

Last Updated: 02nd April 2014 04:25 PM

With a strong growth of about 22 per cent in its asset base, ICICI Prudential Mutual Fund has joined the Rs 1 lakh crore club while HDFC MF has retained its top slot with a slender margin of about Rs 6,000 crore.

The total asset base of the entire mutual fund industry grew by over Rs 40,000 crore during the last fiscal to about Rs 8.6 lakh crore at the end of the financial year 2013-14, shows the latest data complied by AMFI (Association of Mutual Funds in India).

HDFC MF has retained its top position with average AUM (Asset Under Management) of Rs 1.13 lakh crore, while ICICI Pru MF saw its asset base grow by industry-best rate of 22 per cent to over Rs 1 lakh crore for the first time ever.

ICICI Pru's average AUM stood at Rs 1.07 lakh crore in the last quarter of 2013-14, as against about Rs 87,000 crore a year ago. Birla Sunlife also recorded a strong growth of over 15 per cent in its asset base.

In the top-league, HDFC MF and ICICI Pru are followed by Reliance MF (Rs 1.03 lakh crore), Birla Sunlife (Rs 89,000 crore) and UTI MF (Rs 74,000 crore) in terms of average AUM in the last quarter of 2013-14.

Besides, Baroda Pioneer MF posted a rise of Rs 803 crore, or 11 per cent, in its assets base, to Rs 8,106 crore.

Among these, HDFC MF has seen its average AUM rise by about Rs 12,000 crore, ICICI Pru (Rs 18,000 crore), Reliance MF (Rs 9,000 crore), Birla Sunlife (Rs 12,000 crore) and UTI MF (Rs 5,000 crore) in absolute terms.

However, the total average AUM of the entire industry, comprising of nearly 45 fund houses, fell in 2013-14 from the preceding fiscal, mainly on account of fiscal-end redemption pressure.

Moreover, mutual fund industry has lost an estimated over 29 lakh investors, measured in terms of individual accounts or folios during the current fiscal, mainly due to profit-booking and various merger schemes.

comments powered by Disqus

Disclaimer: We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the NIE editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.


follow us Mobile Site iPad News Hunt Android RSS Tumblr Linekin Pinterest Youtube Google Plus Twitter Facebook