Assets decline at top fund houses in September

Several fund houses reported a decline in their assets under management (AUM) during the month of September. Huge outflows from certain debt schemes and correction in stock prices impacted assets, say industry players. 

While the overall AUM declined one per cent in September over the previous month, several fund houses witnessed a much bigger dent.

HSBC Mutual Fund, DHFL Pramerica, LIC Mutual Fund and Axis Mutual Fund saw the steepest double-digit drop in AUM. The top five fund houses – ICICI Prudential, HDFC, Aditya Birla Sun Life, Reliance Nippon and SBI Mutual Fund saw an average three per cent decline in AUM. 

Mid-sized