Mutual funds' assets under management rise by 9 percent

Assets under management (AUM) of mutual funds in India rose by Rs.80,000 crore or nine percent to Rs.9.85 lakh crore in the April-June quarter of the current fiscal, industry data showed Wednesday.

The country's 44 fund houses together had an average AUM of Rs.9.85 lakh crore during April-June quarter of 2014-15, up from Rs.9.05 lakh crore in the preceding three months, according to the latest data available with Association of Mutual Funds in India (AMFI).

However, AUM had touched a record Rs.10.11 lakh crore at the end of May.

HDFC Mutual Fund has retained its top position with an average AUM of Rs.1.3 lakh crore, a surge in asset base by over 15 percent, while ICICI Prudential Mutual Fund saw its asset base grow by 10.52 percent to Rs.1.18 lakh crore during the period.

In the top league, HDFC Mutual Fund and ICICI Prudential are followed by Reliance Mutual Fund (Rs.1.12 lakh crore) Birla Sunlife (Rs.98,556 crore) and UTI Mutual Fund (Rs.79,441 crore) in terms of average AUM in the first quarter of 2014-15.