New Delhi, July 02: The mutual fund industry
witnessed five per cent increase in its average assets under
management at Rs 6.70 lakh crore at the end of June, with
Reliance MF alone gaining over Rs 5,000 crore.
The mutual fund industry's average assets under
management (AAUM) grew by Rs 31,863.31 crore, or 5 per cent,
and analysts said increased inflows propelled gains in asset.
The combined average AUM of the 35 fund houses in the
country increased to Rs 6,70,993.13 crore in June, compared to
Rs 6,37,609.41 crore in May, according to data released by
the Association of Mutual Funds in India (AMFI).
Reliance MF maintained its top position as the largest
fund house in the country with Rs 5,602.21 crore jump in its
AUM to Rs 1,08,332.36 crore at June-end.
It had an AUM of Rs 1,02,730 crore at the end of May.
The second-largest fund house, HDFC MF, gained Rs 2,792
crore with its AUM at Rs 78,197.90 crore.
"There is no big reason as such for the slow growth in
AUM in June and the increase can be attributed mainly to
inflows in fixed income schemes, while they have been nominal
in equity schemes," Mutual Fund tracking firm Value Research
CEO Dhirendra Kumar said.
ICICI Prudential and state-run UTI MF added Rs 4,619.61
crore and Rs 4,540.32 crore, respectively, to their assets
last month.
Bureau Report
First Published: Thursday, July 02, 2009, 20:08