New Delhi: The average assets under management
of the country's mutual fund industry dropped to Rs 7.78 lakh
crore at the end of December, much below the Rs eight-lakh
crore mark it had scaled in the previous month.
The industry's average Asset Under Management (AUM) fell
by Rs 28,645 crore or 3.55 percent during the said month.
The combined average AUM of the 35 fund houses stood at
Rs 7,78,901 crore at the end of December, the Association of
Mutual Funds in India (AMFI) data showed.
Reliance MF maintained its top position as the country's
largest fund house with an AUM of Rs 1,19,982 crore during the
month, despite losing Rs 2,271 crore from its assets.
Reliance MF was followed by the country's second largest
fund house HDFC MF's AUM that witnessed a hefty erosion of Rs
5,216 crore.
HDFC MF, which saw its AUM in November cross the Rs 1-
lakh crore mark, had average assets worth Rs 97,184 crore at
December end.
The AUM of UTI MF also fell by Rs 1,691.78 crore during
December to Rs 78,203.44 crore.
The country's third largest fund house, ICICI Prudential
MF, was one of the 10 fund houses that saw its AUM grow by Rs
293 crore during the month to Rs 82,432.25 crore.
Marketmen said despite a modest over three percent gain
in the equity markets during December, withdrawal pressure of
the corporate houses at the end of the quarter had led to
outflow from various schemes.
Besides, ICICI Pru, other fund houses which saw their
average AUM rising in December include LIC MF, Canara Robeco
MF, Franklin Templeton and Kotak Mahindra MF.
The Bombay Stock Exchange barometer Sensex in December
surged by 3.58 percent to 17,464.81 points mark amid volatile
trading witnessed across the global markets.
Two fund houses Sundaram BNP Paribas Mutual Fund and
Morgan Stanley Mutual Fund are yet to disclose their monthly
AUM figures.
Other fund houses that saw a decline in their assets
include Birla Sunlife MF, Deutsche MF, AIG Global Investment
MF and Fidelity MF.
PTI
First Published: Sunday, January 03, 2010, 13:16