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HDFC MF surpasses ICICI Prudential to become India's top asset manager

In 2019, the fund houses expect the industry to witness robust growth as the sector is yet to tap its full potential

Press Trust of India  |  New Delhi 

HDFC MF
HDFC MF

has piped to become the country's largest after a gap of over two years.

As of December-end, manages assets to the tune of Rs 3.35 trillion, while those of stood at Rs 3.08 trillion, as per the latest data available with Association of in India (Amfi).

The (AUM) of have grown over 9 per cent in October-December quarter from the previous three-month period, however, ICICI Prudential MF's AUM slipped by 0.6 per cent during the period under review.

was the largest asset manager since October 2011 and it held the numero uno position till March 2016, when had overtaken the top spot.

On a month-on-month basis, ICICI Prudential MF had surpassed HDFC MF in terms of AUM in February 2016 and had reached the top position.

SBI MF is at the third slot with AUM of Rs 2.64 trillion, followed by Aditya Birla Sun Life MF (Rs 2.42 trillion) and Reliance MF (Rs 2.36 trillion).

Overall, the asset base of the country's was at Rs 23.61 trillion at the end of December quarter.

In 2019, the fund houses expect the industry to witness robust growth as the sector is yet to tap its full potential. Besides, several measures taken by the regulator Sebi will help in increasing the penetration of

MFs are investment vehicles made up of a pool of funds collected from a large number of investors and invest in stocks, bonds and money market instruments, among others.

First Published: Thu, January 03 2019. 14:15 IST
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