UTI MF reclaims top rank

UTI Mutual Fund has reclaimed its number one rank among mutual funds in India in terms of the total assets under management (AUM) at the end of August, pushing ICICI Prudential Mutual Fund to the second spot.

The AUM of UTI Mutual Fund at the end of August rose by Rs 4069.44 crore to Rs 3,5027.49 crore, compared to Rs 30,958.05 crore in July-end. The AUM of ICICI Prudential for August was Rs 34,118.87 crore, which is lower by Rs 908.62 crore to UTI MF, as per the data compiled by the Association of Mutual Funds of India (AMFI). ICICI-Prudential had overtaken UTI Mutual Fund in May and continued to remain the top player for the next couple of months.

ICICI-Prudential's AUM rose by Rs 2,687.35 crore in August from Rs
31,431.52 crore in July.

The third spot is occupied by Reliance Mutual Fund with an AUM of Rs
28,753.79 crore, which saw its total assets grew by Rs 2,534.49 crore in
August. HDFC Mutual Fund was in the fourth spot with an AUM of Rs
25,891.63 crore, followed by Franklin Templeton at Rs 24,198.24 crore.
The biggest loser in August was HSBC Mutual Fund. During the month, its AUM fell by Rs 528.05 crore from Rs 11,212.43 crore in July to Rs
10,684.38 crore in August-end.

The consolidated AUM of all the mutual funds fell by Rs 7,961.26 crore
in the month of August. The total AUM of mutual funds stood at Rs
2,79,305.64 crore in August-end, compared to Rs 28,726.90 crore in 
July. This may be due to the non-availability of the AUM of Birla-Sun
Life Mutual Fund in August.