HDFC MF's AUM drops Rs 6,365 cr in March

The country's second-largest fund house HDFC Mutual Fund saw a decline of over Rs 6,300 crore from its assets under management (AUM) in March.

The company witnessed a dip of Rs 6,365 crore in its average assets under management (AAUM), while JM Financial MF saw its AUMs slip by Rs 1,509 crore in the month, according to the latest data available with the Association of Mutual Fund of India.

At the end of March, the AUMs with HDFC MF stood at Rs 88,779.84 crore, while JM Financial had assets worth Rs 7,997.46 crore.

However, monthly AUM figures of many MFs, including the largest fund house Reliance MF, ICICI Prudential MF and UTI MF are not available.

The combined average AUM of the 22 fund houses, which have so far provided the AUM data stands at Rs 2,39,992 crore.

Last month, the total average AUM of 37 fund houses grew by Rs 20,085.98 crore or 2.64 per cent to Rs 7.81 lakh crore.

Fund houses which saw a drop in their average AUMs in March include Religare MF, Fortis MF, Franklin Templeton MF and Tata MF. During March, the BSE Sensex gained 7 per cent to 17,528 points on back of the post-budget rally and the resultant increased foreign fund flow.

Some of the fund houses whose AUMs increased are DSP BlackRock MF whose assets grew by Rs 1,557 crore to Rs 21,491 crore in March. Other fund houses that saw an addition to their assets include Bharti AXA MF, Edelweiss MF, Escorts MF and Morgan Stanley MF.