Rs 4.01 lakh crore AUM In June 2007

The mutual fund industry closed June 2007 with Rs 4.01 lakh crore of assets under management (AUM). This showed a decline of 3.22% in June 2007 compared with Rs 4.14 lakh crore managed in May 2007. AUM of fund of funds (FoFs) was Rs 2076.83 crore.

Of the 32 mutual funds, 14 registered a rise in AUM in June 2007 over May 2007 and rest showed a decline in their AUM (excluding AIG Global Investment Group Mutual Fund and JP Morgan Mutual Fund). There were 13 fund houses with AUM above Rs 10000 crore, Of these, eight registered net outflow in June 2007 compared with May 2007, when all fund houses witnessed net inflow.

The top three funds witnessing a rise in the AUM included DBS Chola Mutual Fund (22.04%), Lotus India Mutual Fund (14.97%) and Quantum Mutual Fund (12.56%). Reliance Mutual Fund continued its run as the largest fund house with Rs 59857.01 crore of AUM in June 2007 - a rise of 1.21% over May 2007. It registered net purchases of Rs 713.54 crore in June 2007 over May 2007. This is clearly more than what ICICI Prudential Mutual Fund managed: Rs 43613.75 crore in June 2007. It stood at the second position. However, ICICI Prudential Mutual Fund fell by Rs 7089.25 crore to 13.98% in June 2007 over May 2007.

AUM of UTI Mutual Fund and HDFC Mutual Fund decreased 2.59% and 1.43%, respectively, in June 2007. Occupying the third and fourth slots, AUM of UTI Mutual Fund and HDFC Mutual Fund were Rs 39031.87 crore and Rs 35629.81 crore, respectively. Both the fund houses were in the third and fourth positions of May 2007.

The other top mutual funds, in terms of AUM in June, 2007 were Franklin Templeton Mutual Fund AUM (Rs 26469.44 crore), SBI Mutual Fund (Rs 20272.97 crore) and Birla Sun Life (Rs 19525.33 crore). Among these, only Birla Mutual Fund recorded a decline in AUM.

DSP Merrill Lynch Mutual Fund recorded the highest net inflow of Rs 900 crore in June 2007, replacing Reliance Mutual Fund, which dropped down to fourth position with an inflow of Rs 713.54 crore, Benchmark Mutual Fund and Tata Mutual Fund with a net inflow of Rs 781.95 crore and Rs 755.20 crore, respectively, followed. However, ICICI Prudential Mutual Fund recorded the highest outflow of Rs. 7089.25 crore in June 2007. It was followed by Birla SunLife Mutual Fund, Standard Chartered Mutual Fund and Principal Mutual Fund with net outflow of Rs 4194.13 crore, Rs 3224.02 and Rs 1597.16 crore, respectively.