New Delhi: Amid volatility in stock markets, the domestic fund houses witnessed nearly 7% decline in assets during the month of November, while UTI Mutual Fund has bucked the trend to become the third biggest fund in terms of assets under management, replacing ICICI Prudential.The average assets under management (AUM) of the country's oldest fund house - UTI MF - has grown about Rs 74 crore and stood at Rs 8,358.14 crore at November-end.
UTI MF has raised nearly Rs 300 crore from the New Fund Offer last month. The money raised from UTI Wealth Builder Fund would be reflected in the AUM figure of the next month. Besides, the combined average AUM of the 35 fund houses in the country witnessed an erosion of over Rs 29,831 crore and dropped to Rs 4,02,030 crore for the period under study. Last month, the average AUM had been at Rs 4,31,901.42 crore, dropping below the Rs 5 trillion-mark for the first time this year, according to the data released by the AMFI. Top fund house Reliance MF suffered a sharp decline of Rs 3,278 crore or 4.61 per cent in its AUM, which fell below Rs 70,000 crore. Its average AUM stood at Rs 67,816 crore, down from Rs 71,094 crore at the end of October.
UTI MF has raised nearly Rs 300 crore from the New Fund Offer last month. The money raised from UTI Wealth Builder Fund would be reflected in the AUM figure of the next month. Besides, the combined average AUM of the 35 fund houses in the country witnessed an erosion of over Rs 29,831 crore and dropped to Rs 4,02,030 crore for the period under study. Last month, the average AUM had been at Rs 4,31,901.42 crore, dropping below the Rs 5 trillion-mark for the first time this year, according to the data released by the AMFI. Top fund house Reliance MF suffered a sharp decline of Rs 3,278 crore or 4.61 per cent in its AUM, which fell below Rs 70,000 crore. Its average AUM stood at Rs 67,816 crore, down from Rs 71,094 crore at the end of October.
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