On the back of less deployment of funds by banks in mutual fund (MF) schemes and amid volatile equity markets, the average asset under management (AAUM) of top five fund houses fell over 4 per cent in January over the December figure.
Out of the 37 fund houses, 36 have declared their AAUM. Of these, 23 reported a fall in assets whereas only 13 saw a rise, according to the Association of Mutual Funds in India (Amfi) data released today.
The AAUM of the top five fund houses — Reliance, HDFC, ICICI, UTI and Birla Sun Life — squeezed to Rs 4,27,522.93 crore in January from Rs 4,45,847.48 crore in December.
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