HDFC Mutual Fund with an average asset base of Rs 91,827.11 crore has overtaken Reliance MF to become the country’s largest AMC (Asset Management Company.
This is the first time since 2009 that the average assets under management (AUM) of Reliance MF fell. At the end of September, the AUM of Reliance MF declined by Rs 10,598.72 crore on increasing its retail customers base, rather than on bringing AUM through institutional investors.
As at the end of 2011, September the average assets managed by the mutual fund industry, consisting of about 4o active players, stood at Rs 7,12,000 crore
The Indian mutual fund industry witnessed decline in their average AUM by Rs 31,255.34 crore or 4.2%. The combined average AUM was Rs 7,43,083.91 crore in end-June.
Besides, ICICI Prudential MF and UTI MFs assets declined 5.7% and 9.4%. At the end of September quarter, ICICI Prudential's AUM stood at Rs 75,217.10 crore and UTI MF’s at Rs 62,579.86 crore.
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This is the first time since 2009 that the average assets under management (AUM) of Reliance MF fell. At the end of September, the AUM of Reliance MF declined by Rs 10,598.72 crore on increasing its retail customers base, rather than on bringing AUM through institutional investors.
As at the end of 2011, September the average assets managed by the mutual fund industry, consisting of about 4o active players, stood at Rs 7,12,000 crore
The Indian mutual fund industry witnessed decline in their average AUM by Rs 31,255.34 crore or 4.2%. The combined average AUM was Rs 7,43,083.91 crore in end-June.
Besides, ICICI Prudential MF and UTI MFs assets declined 5.7% and 9.4%. At the end of September quarter, ICICI Prudential's AUM stood at Rs 75,217.10 crore and UTI MF’s at Rs 62,579.86 crore.
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