The average assets under management of the mutual fund industry declined by a hefty 5% during the October-December quarter , with country's largest fund house Reliance MF's assets shrinking by over Rs 5,000 crore.
The industry's AUM fell by Rs 37,904 crore, or 5.31%, in October-December period. The combined average AUM of 40 fund houses stood at Rs 6,75,376.97 crore at the end of December, according to industry body Amfi.
At the end of December 2010, the AUM of Reliance Mutual Fund stood at Rs 1,02,066.21 crore, a decline of Rs 5,682.32 crore or 5.27% from the assets managed in September-end.
HDFC MF also saw its asset base shrink by Rs 5,222 crore, or 5.61%, to Rs 87,883.09 crore. ICICI Prudential MF's assets declined by Rs 3,886 crore, or 5.57%, to Rs 65,841 crore. Among the other fund houses, UTI MF's assets fell by 3.29% to Rs 65,387 crore and LIC MF's by 5% to Rs 18,695 crore.
However, a few fund houses, like Axis MF, Benchmark MF, Fidelity MF, Mirae Asset MF and Pramerica MF, among others, saw their assets rise in the range of 4-75% during this period.
Mirae Asset Global Investments (India) chief executive Arindam Ghosh said, "We have introduced different product mix during the December quarter. This has led to an increase in inflows into several schemes. We mostly have equity funds."
Source: http://economictimes.indiatimes.com/markets/stocks/market-news/mutual-funds-aum-drops-5-in-october-december-quarter/articleshow/7220422.cms
The industry's AUM fell by Rs 37,904 crore, or 5.31%, in October-December period. The combined average AUM of 40 fund houses stood at Rs 6,75,376.97 crore at the end of December, according to industry body Amfi.
At the end of December 2010, the AUM of Reliance Mutual Fund stood at Rs 1,02,066.21 crore, a decline of Rs 5,682.32 crore or 5.27% from the assets managed in September-end.
HDFC MF also saw its asset base shrink by Rs 5,222 crore, or 5.61%, to Rs 87,883.09 crore. ICICI Prudential MF's assets declined by Rs 3,886 crore, or 5.57%, to Rs 65,841 crore. Among the other fund houses, UTI MF's assets fell by 3.29% to Rs 65,387 crore and LIC MF's by 5% to Rs 18,695 crore.
However, a few fund houses, like Axis MF, Benchmark MF, Fidelity MF, Mirae Asset MF and Pramerica MF, among others, saw their assets rise in the range of 4-75% during this period.
Mirae Asset Global Investments (India) chief executive Arindam Ghosh said, "We have introduced different product mix during the December quarter. This has led to an increase in inflows into several schemes. We mostly have equity funds."
Source: http://economictimes.indiatimes.com/markets/stocks/market-news/mutual-funds-aum-drops-5-in-october-december-quarter/articleshow/7220422.cms
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