AUM Of MF’s Rises By 18.2%

The mutual fund industry closed May 2007 with Rs 4.14 lakh crore of assets under management (AUM). This was higher than what fund houses managed in April 2007: Rs 3.50 lakh crore - a rise of 18.2% in May 2007 over April 2007. AUM of fund of funds (FoFs) was Rs 2147.64 crore.
Out of the 30 mutual funds, 28 registered a rise in the AUM in May 2007 over April 2007. The top three funds witnessing a rise in the AUM included Lotus India Mutual Fund (73.6%), ING Vysya Mutual Fund (64.1%) and Benchmark Mutual Fund (41.8%).

Reliance Mutual Fund continued its run as the largest fund house in May 2007, followed by ICICI Prudential Mutual Fund. Reliance Mutual Fund topped the charts with Rs 59143.47 crore of AUM in May 2007- a rise of 21.1% over April 2007. This is clearly more than what ICICI Prudential Mutual Fund managed: Rs 50703.00 crore in May 2007 (a rise of 20.0% over April 2007).

Reliance Mutual Fund registered net purchases of Rs 10315.44 crore in May 2007 over April 2007. The other toppers also registered a rise in its AUM in May 2007 compared with April 2007. AUM of ICICI Prudential Mutual Fund, UTI Mutual Fund and HDFC Mutual Fund increased 20.0%, 12.8% and 14.8%, respectively, in May 2007. Occupying the third and fourth slots were UTI Mutual Fund and HDFC Mutual Fund, which had AUM of Rs 40070.16 crore and Rs 36146.66 crore, respectively. UTI Mutual Fund maintained its third position of the previous month (April 2007). HDFC Mutual Fund also maintained its fourth position of the previous month (April 2007).

The other top mutual funds, besides the top four, in April 2007 were Franklin Templeton Mutual Fund AUM (Rs 26276.35 crore), Birla Sun Life (Rs 23719.46 crore), and SBI Mutual Fund (Rs 19660.82 crore). All this major funds showed a rise in AUM in May 2007 compared with April 2007.

Reliance Mutual Fund recorded the highest inflow of Rs 10315.44 crore in May 2007, while ICICI Prudential Mutual Fund, Birla Sun Life Mutual Fund and HDFC mutual Fund, registered an inflow of Rs 8435.15 crore, Rs 5103.67 crore and Rs 4661.50 crore, respectively. HSBC Mutual Fund (Rs.2718.59 cr.), Fidelity Mutual Fund's (Rs. 2279.58 crore), Standard Chartered Mutual Fund (Rs. 2193.85 cr.) and Sundaram Fund (Rs. 2170.16 cr.) also witnessed substantial inflow of more than Rs 2000 crore. SBI Mutual Funds AUM increased Rs 1322.20 crore to Rs 19660.82 crore in May 2007.

Among the smaller players were Quantum Mutual Fund (Rs 61.05 crore), Escorts Mutual Fund (Rs 132.47 crore), BoB Mutual Fund (Rs 97.59 crore), Taurus Mutual Fund (Rs 305.47 crore) and DBS Chola Mutual Fund (Rs. 2473.08 crore).

Some of the other fund houses, each with less than Rs 5000 crore AUM, were Canbank Mutual Fund, JM Financial Mutual Fund and Morgan Stanley Mutual Fund. PRINCIPAL Mutual Fund closed May 2007 with Rs 13148.51 crore -higher than Rs 9540.94 crore it had in end-April 2007.

Sahara Mutual Fund clocked a decrease of Rs.1.21 crore in its AUM in May 2007 compared with April 2007, followed by DSP Merrill Lynch Mutual Fund, registering a decrease of Rs. 0.50 crore in its AUM in this period.