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| Top MF players grew 5.5 per cent in November |
| BS Reporter / Mumbai Dec 02, 2009, 00:45 IST |
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The domestic mutual fund (MF) sector has registered positive growth in November, if the average assets under management (AUM) of the top five fund houses are any indication. Barring a few houses, a majority of the players reported positive growth in their assets.
According to the latest statistics from the Association of Mutual Funds in India (Amfi), the AUM of top fund houses have increased by two to 10 per cent.
HDFC MF has emerged as the fastest growing fund house in November among the top players, registering a growth of 9.73 per cent. With its AUM crossing Rs 1 lakh crore, HDFC has joined Reliance MF in managing an asset of over this landmark level.
The AUM of Reliance MF for November stood at Rs 122,252.42 crore, up 4.7 per cent against the previous month’s AUM of Rs 116,781.9 crore. The AUM of Birla Sunlife MF grew 7.04 per cent to Rs 69,631.9 crore, whereas the assets of UTI MF in November jumped by four per cent to Rs 76,847.3 crore.
ICICI Prudential MF was the slowest in adding assets in November among its peers. Its AUM rose only two per cent to Rs 82,138 crore.
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