Indian mutual fund industry has crossed the Rs five trillion mark in assets for the first time, but two-fifth of the total is controlled by top five fund houses.
MUMBAI: Indian mutual fund industry has crossed the Rs five trillion mark in assets for the first time, but two-fifth of the total is controlled by top five fund houses.
Total assets under management (AUM) of 32 fund houses in the country rose to a record high of Rs 5,56,729 crore at the end of October, according to the data available with the industry association AMFI.
This represents an increase of Rs 79,740 crore or about 17 per cent in October from Rs 4,76,990 crore a month ago. All the 32 fund houses recorded an increase in their AUM during the reviewed period.
However, the top five fund houses, Reliance MF, ICICI Prudential, UTI MF, HDFC MF and Franklin Templeton, together own assets worth nearly Rs two trillion, which is about 40 per cent of AUM of all the fund houses.
The total AUM of the remaining 27 fund houses currently stands at about Rs three trillion.
The total AUM of five smallest fund houses, Taurus, Sahara, Escorts, BoB and Quantum MFs, is in fact less than Rs 1,000 crore. In comparison, the AUM of all the top five fund houses currently stands at over Rs 32,000 crore.
However, it was Quantum MF that recorded the biggest growth in percentage terms with a rise of 16 per cent in its AUM, followed by HDFC MF with a 15.5 per cent growth.
The second biggest growth was recorded by Reliance MF at 13.5 per cent, followed by Taurus (12.5 per cent) and SBI (12 per cent).
Reliance MF, part of Anil Ambani group firm Reliance Capital, retained its top position with its AUM growing 13.5 per cent in October to Rs 79,973 crore. It was followed by ICICI Prudential with an AUM of Rs 56,212 crore.
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