Fund market registers 4.4% growth in assets in May

The average asset under managment (AAUM) of the domestic fund market registered a six-month high growth rate in May at 4.47 per cent on a month-on-month basis since November last year.

According to statistics from the Association of Mutual Funds in India (AMFI), the industry’s AAUM stood at Rs 8,03,559.06 crore against Rs 7,69,165.40 crore in April — a growth of 2.89 per cent.

Among the top five fund houses, HDFC Mutual Fund registered the highest growth of 7.56 per cent with its AAUM at Rs 1,01,863.31 crore, followed by Reliance MF at 6.4 per cent, Birla Sun Life MF (6.21 per cent) and ICICI MF (5.63 per cent). Only UTI MF was an underperformer — its AAUM dipped marginally by 1.06 per cent to Rs 78,617.15 crore from Rs 79,456.69 crore in April.
 

TOP RUNG AAUM OF TOP FIVE PLAYERS
Fund  House	AAUM  in May*	Growth  (%)
Reliance MF	1,18,973.14	6.40
HDFC MF	1,01,863.31	7.56
ICICI MF	87,709.81	5.63
UTI MF	78,617.15	-1.06
Birla Sun Life MF	73,828.03	6.21
Source : Association of Mutual Funds in India (AMFI) * In Rs crore

Gopal Agarwal, equity head at Mirae Asset, said, “Inflow of fresh money is being seen in the fixed income as well as the equity segment taking the AAUM of the industry up. Moreover, redemptions have almost stopped.”

Out of the 38 fund players in the domestic market, AAUM of 15 players plunged in the month under review. SBI MF witnessed the steepest decline of 9.02 per cent in its AAUM. It was followed by JP Morgan (8.01 per cent) and AIG Global Investment (5.71 per cent).

The fund market had witnessed a growth of about 6 per cent in AAUM in November last year. However, it was followed by two months of negative growth.