Mutual Fund Assets Touches Rs 4-Trn Mark

Mumbai: Assets owned by India's mutual funds reached the Rs 4-trillion mark for the first time. Reliance Mutual Fund reported a 21 per cent growth in its assets during May to sustain its number one status for the third month running, leaving behind peers ICICI Prudential and UTI Mutual Fund, which also posted decent gains in the same period. The total assets under management (AUM) of the mutual fund industry fetched at Rs 4,02,035.88 crore (excluding four mutual funds which have not disclosed their data on the Association of Mutual Funds in India (AMFI) website), a growth of 14.7 per cent from the last month's AUM of Rs 3,50,279.39 crore.
The Anil Ambani-controlled asset management company leads the AUM table with a total of Rs 59,143.47 crore for the month of May. The company's assets grew by Rs 10,315.44 crore during the period, a growth of 21 per cent from Rs 48,828.03 crore in April. Reliance MF is followed by ICICI Prudential Mutual Fund, UTI MF, HDFC MF and Franklin Templeton, which continue to hold on to their positions as India's top five fund houses. At number two, Prudential ICICI's assets stood at Rs 50,703 crore, which grew by 19.9 per cent from the previous month's Rs 42,267.85 crore.

UTI Mutual Fund asserted the third slot by growing its assets by over 12 per cent, from Rs 35,517 crore in April to Rs 40,070.16 crore in May. DFC Mutual Fund's AUM saw a rise of 14.7 per cent in May to Rs 36,146.66 crore from Rs 31, 511 crore in April, growing faster than UTI Mutual Fund. Franklin Templeton performed modestly well growing by 7.2 per cent to clock an AUM of Rs 26, 276.35 crore in May. Quantum grew by 6.39 per cent from Rs 57.38 crore in April to Rs 61.05 crore in May, while the AUM of Lotus stood at Rs 3,623.14 crore in May.