Top mutual funds maintain leadership, smaller players lose assets

Smaller AMCs, which have had troubles with debt exposures, continued to see sharp erosion of assets in the December quarter. PGIM India MF saw an asset erosion of 62 per cent on a year-on-year (YoY) basis, with its average assets under management (AUM) slipping to Rs 4,042 crore in the December quarter. 

For Indiabulls MF, its AUM declined 61 per cent YoY to Rs 1,452 crore in the quarter. Among the larger players, Nippon India MF saw its asset base shrink 13.5 per cent to Rs 2.04 trillion. 

Meanwhile, fund houses gaining traction for their equity schemes performance saw a strong jump in assets. For Mirae MF, its AUM rose 87 per cent to Rs 39,349 crore. 

For Axis MF, the jump was 50 per cent, with assets at Rs 1.2 trillion in the December quarter. Among top players, SBI MF saw its asset base increase 33 per cent to Rs 3.52 trillion. HDFC MF and ICICI MF saw their assets rise 14.2 per cent (rising to Rs 3.82 trillion) and 17 per cent (rising to Rs 3.6 trillion), respectively.