MFs` assets up 6.67% in April

Analysts attribute the rise in assets to the inflows into fixed maturity plans (FMPs) and liquid plus schemes. Basically, the money that was redeemed in March came back to mutual funds and led to a rise in assets.

Sameer Kamdar, Country Head, Mata Securities, said, "April has traditionally been a month when assets rebound and this jump in assets is more on expected lines." He further added, "However, there is a mark-to-market component to the equity assets as markets went up in April."

According to the Association for mutual funds in India (AMFI) data, Reliance mutual fund continued to lead the pack with assets under management worth Rs 96,386.40 crore in April, up 6 per cent from Rs 90,937.94 crore in March. Benchmark mutual fund did not disclose its data on the AMFI website.

ICICI Prudential Asset Management was the second largest fund house, with assets under management worth Rs 55,708 crore.

Its assets under management rose by a minuscule 2.55 per cent from Rs 54,321 crore in March. UTI mutual fund also saw a substantial rise in assets from Rs 48,982.21 crore to Rs 52,549.40 crore, an increase of 7.28 per cent.

However, HDFC mutual fund witnessed the biggest rise in assets among the top five mutual funds. Its AUM jumped from Rs 44,773 crore in March to Rs 51,770.81 crore in April, an increase of 15.62 per cent. Birla Sun Life mutual fund's assets climbed up by 10 per cent to Rs 39,489.2 crore. It emerged as the fifth largest fund house in the country.

Anil Chopra, Director and CEO, Bajaj Capital said, "FMPs and Liquid schemes have done well because of better yields. However, there has been a dip in equity sales. Although there was hardly any NFOs, major chunk of the money has come into debt assets"