MF assets base perks up by Rs 39,000 cr in April-June quarter

Buoyed by strong inflows in equities, the assets base of country's mutual fund industry surged by around Rs 39,000 crore to jump over Rs 12 lakh crore during the April-June quarter of the current fiscal.

The country's 44 fund houses together had an average assets under management (AUM) of Rs 11.88 lakh crore during January-March quarter of 2014-15 as compared to Rs 12.27 lakh crore in the first quarter of current financial year, as per the latest data available with Association of Mutual Funds in India (AMFI).

The assets base figure could rise further as few fund houses are yet to disclose their quarterly numbers.

Industry experts said the quarterly rise in AUM is largely on account of inflows in equities. Besides, retail participation in equity schemes has increased significantly during the recent months.

HDFC Mutual Fund (MF) has retained its top position with an average AUM of Rs 1.65 lakh crore, a surge in asset base by 2.1 cent, while ICICI Prudential MF's asset base grew by 4.7 per cent to Rs 1.55 lakh crore.

In the top league, HDFC MF and ICICI Prudential are followed by Reliance MF (Rs 1.45 lakh crore) Birla Sunlife (Rs 1.25 lakh crore) and UTI MF (Rs 92,730 crore) in terms of average AUM in the first quarter of 2015-16.

Commenting on the quarterly surge in assets base, UTI MF Group President and Head of Sales and Marketing Suraj Kaeley said: "Mutual funds' assets base rose by 39,000 crore, or over three per cent, during the quarter primarily due to huge net inflow in equities. In addition, corporates have maintained their strong presence.