AUM Up By 2.15 Per Cent

The mutual fund industry closed September 2007 with Rs 4.77 lakh crore of assets under management (AUM). This showed an increase of 2.15% in September 2007 compared with Rs 4.67 lakh crore in August 2007. AUM of fund of funds (FoFs) was Rs 2166.94 crore in September 2007. Of the 32 mutual funds, 12 registered a decline in AUM in September 2007 over August 2007 and the rest twenty showed an addition in their AUM. There were 17 fund houses with AUM above Rs 10000 crore. Twelve of them had a net outflow in September 2007 compared with August 2007.

The top three funds witnessing a rise in the AUM included AIG Global Investment Group Mutual Fund (100.10%), JP Morgan Mutual Fund (96.57%), and JM Financial Mutual Fund (45.17%). Reliance Mutual Fund continued its run as the largest fund house with Rs 70440.57 crore of AUM in September 2007 - a rise of 4.21% over August 2007. It registered net purchases of Rs 2842.92 crore in September 2007 over August 2007. AUM of ICICI Prudential Mutual Fund was at Rs 50369.93 crore in September 2007. It registered a decline of 0.48% in AUM in September 2007 over August 2007. However, it continued to be at the second position.

Occupying the third and fourth slots, AUM of UTI Mutual Fund and HDFC Mutual Fund were Rs 45002.62 crore and Rs 41333.4 crore, respectively. AUM of UTI Mutual Fund increased by 7.92%, where as AUM of HDFC Mutual Fund increased by 1.13%, in September 2007 over August 2007.

The other top mutual funds, in terms of AUM were Franklin Templeton Mutual Fund AUM (Rs 304881.96 crore), Birla Sun Life (Rs 27899.87 crore) and SBI Mutual Fund (Rs 23738.68crore) in September 2007.

Tata Mutual Fund recorded the second highest net outflow of Rs. 2584.24 crore in September 2007. Second highest net outflow was recorded by Standard Chartered Mutual Fund with net outflow of Rs.2466.07 crores followed by Canbank Mutual Fund with net outflow of Rs. 938.17 crore in September 2007.

UTI Mutual Fund recorded the highest inflow of Rs 3304.06 crore in September 2007. Reliance Mutual Fund followed with a net inflow of Rs 2842.92 crore. The third position was secured by DSP Merrill Lynch Mutual Fund with a net inflow of 2289.40 crore in September 2007.

The AUM of Mutual Fund industry rose marginally by 2.16%, despite the BSE Sensex rising during the month.