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ICICI Prudential Mutual Fund (MF) has become the second asset management company to cross Rs 10 trillion in assets under management (AUM) across its mutual fund schemes.
The country’s second-largest fund house achieved this milestone during the September quarter, when its AUM grew the fastest among the top five, rising 7.5 per cent quarter-on-quarter.
The fund house, a joint venture between ICICI Bank and Prudential PLC, has been one of the largest asset managers in the Indian mutual fund space for decades. Its average quarterly AUM has grown at a compounded annual growth rate (CAGR) of 22.8 per cent over the past five years. The growth rate is at par with that of the industry.
SBI Mutual Fund was the first to achieve the Rs 10-trillion AUM milestone, crossing the mark in June 2024.
Rising investor confidence drives record AUM
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Dhirendra Kumar, chief executive officer of Value Research, said the growing asset size of fund houses reflects increasing investor trust.
"Reaching Rs 10 trillion isn’t just about size, it’s about trust. It shows that ordinary Indians are finally seeing mutual funds not as a gamble, but as the smartest way to build their future," he said.
Tata MF breaks into top 10 amid industry expansion
The September quarter also marked the entry of Tata Mutual Fund into the top 10 fund house chart. The asset manager reported an average AUM of Rs 2.2 trillion in the previous quarter, up 10.6 per cent compared to the quarter ended March.
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