MF industry asset base up marginally in March qtr; SBI MF largest fund house
The average asset under management (AAUM) of the industry, comprising 44 players, stood at Rs 26.77 lakh crore in the October-December quarter 2019, according to data by the Association of Mutual Funds in India (Amfi).
The asset base of the industry was Rs 24.5 lakh crore in the same period a year ago.
The marginal growth of one per cent on quarter-on quarter basis comes amid high volatility in equity markets.
Among the top five fund houses, SBI MF and Nippon India MF have witnessed gain in their asset base, while the other three - HDFC MF, ICICI Prudential MF and Aditya Birla Sunlife MF - saw decline in their average AUMs.
With an asset base of Rs 3,73,537 crore, SBI Mutual Fund has become the largest fund house in the country during the January-March quarter 2020, toppling HDFC Mutual Fund, which has an average AUM of Rs 3,69,783 crore.
The fund house has jumped from the third spot at the end of December 2019 quarter to the first position. SBI MF had an asset base of Rs 3,52,632 crore.
Commenting on the performance, Ashwani Bhatia MD and CEO, SBI MF said, "Over the years, we have built robust internal systems and processes, we have the largest investment team in the industry and believe in bottom-up investing."
"We encourage our teams to market the right products to customers and we believe we are in the game for the long term. Our purpose is very important for us. These have helped us achieve this milestone," he added.
HDFC MF, which is at the second position, have seen a drop in its asset base to Rs 3,69,783 crore during the quarter under review from Rs 3,82,517 crore in December quarter.
This is followed by ICICI Prudential MF at the third rank with an average AUM of Rs 3,50,743.5 crore in the March quarter. It had an average AUM of Rs 3,61,506.57 crore in the December quarter.
Aditya Birla Sunlife MF, the fourth largest fund house, has seen its average AUM decreasing to Rs 2,47,522 crore from Rs 2,49,926 crore.
Nippon India MF, which is at fifth position, has seen a marginal rise in its average AUM to Rs 2,04,884 crore from Rs 2,04,371 crore. SP MKJ