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Thursday, September 03, 2009

MFs AAUM records 9% growth

Reliance continues to be on top position

Mutual fund industry registered a rise in its Average Asset Under management (AAUM) for the fifth consecutive month in August 2009. The combined AAUM of the 36 fund houses in the industry has increased by 8.69% (approximately an increase of Rs 60000 crore) to Rs 7.49 lakh crore in August 2009 compared with Rs 6.90 lakh crore in July 2009, according to the data released by the Association of Mutual Funds in India (AMFI). AUM of funds of funds (FoFs) stood with Rs 73157.34 crore in August 2009.

The AUM of the industry is witnessing a rise for the fifth consecutive month in August 2009, thanks to the spurt in equity and debt market that added to the asset size of the industry. Mutual Funds were net buyers of Rs 570.30 crore in the equity market and net buyers of Rs 9051.50 crore in debt market in the month of August 2009.

The AUM in the month of August 2009 rose to 8.69% compared to meager rise of 2.83% in the month of July 2009. The growth was largely on account of the inflows in liquid funds and Income funds. Also Banks who are experiencing low credit off take are parking their excess funds in Mutual Funds which has ultimately lead the AUM of the Mutual Fund Industry to breach 700 lakh crore mark. Banks' investment in mutual funds has witnessed a steep fall of Rs 89472 crore in the fortnight ending 3 July. However it increased to Rs 156910 crore in the fortnight ending 14 August 2009. Also

The 36 fund houses have posted its AAUM in August 2009. 27 fund houses out of 36 fund houses have recorded positive inflow and remaining 9 fund houses has posted negative inflow.

Among the fund houses with AAUM between Rs 1 lakh- 50000 crore the top three funds recorded an inflow in August 2009. Reliance Mutual fund continued to be in the first position with AAUM of Rs 1.17 lakh crore in August 2009, a rise of 8.29% on month-on-month basis (m-o-m). HDFC MF retained its second position with the average AUM of Rs 93874.19 crore a rise of 12.60% compared with the month of July 2009 and ICICI Mutual Fund stood third with an AAUM of Rs 77966.86 crore and it rose by 6.33% on m-o-m basis. Among the other top mutual funds in this category, UTI MF jumped 9.92% to Rs 73925.90 and Birla Sun Life MF jumped by 9.65% to Rs 62866.56 crore in August 2009.

HDFC MF registered the highest inflow in AUM of Rs 10508.09 crore followed by Reliance MF with a net inflow of Rs 8979.40 crore. While HSBC MF witnessed highest net outflow of Rs 478.75 crore followed by DSP Black Rock MF witnessed outflow of Rs 120.85 crore in August 2009.

In the category of fund houses maintaining AUM between Rs 50000 -10000 crore, LIC MF jumped 21.52% on m-o-m basis to Rs 42645.92 crore in the month of August 2009 followed by Religare MF that went up by 20.46% at Rs 14743.90 crore and Kotak Mahindra MF by 8.20% to Rs 36934.22 crore. SBI MF which comes under this category registered fall of 0.30% on m-o-m at Rs 34056.14 crore followed by Tata MF registering a fall of 0.50% at Rs 20489.62 crore and DSP Black Rock MF recording a fall of 0.70% to Rs 17141.60 crore.

In the category of MFs maintaining AAUM between Rs 10000 - 1000 crore Baroda Pioneer MF recorded the highest growth of 34.79% at Rs 5414.34 crore on m-o-m basis, followed by JM Financial MF registering a growth of 12.38% to Rs 8709.39 crore. On the other hand HSBC MF fell by 5.39% to Rs 8404.81 crore followed by ING MF recording a fall of 4.97% to Rs 2199.59 crore in August 2009.

Smaller fund houses with relatively smaller corpus having AAUM less than Rs 1000 crore also has registered rise in their AUM. Edelweiss MF AAUM increased 40.71% on m-o-m basis to Rs 95.56 crore, Taurus MF went up by 23.42% to Rs 798.89 crore. However, Shinsei MF has gone down by 14.70% to Rs 179.37 crore in August 2009 and Escorts MF was down by 2.54% to Rs 199.31 crore in August 2009 over July 2009.

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