The month of March saw asset values of most fund houses
getting eroded due to market volatility Reliance Mutual
Fund went against the trend and grew 10 per cent to become
the country''s top fund house, toppling ICICI Prudential
MF received huge fund inflows in its fixed maturity
plans (FMPs) in the final weeks of 2006-07.
Reliance, the only other fund to register gain was Quantum
MF. The small-sized fund house grew 12 per cent to Rs60.42
crore from Rs53.80 crore a month ago, as per data released
by the Association of the Mutual Funds.
MF now leads assets under management with a total AUM
of Rs46,306.77 crore for March. The asset value of the
fund house grew 9.7 per cent during the month from Rs42,209.76
crore in February. ICICI Prudential, which had regained
the top position two months back, saw its AUM eroding
by 12.5 per cent to Rs37,869.58 crore from Rs43, 280.67
Prudential, which has changed its name from Prudential
ICICI, witnessed a robust 25 per cent growth in February,
as it garnered around Rs10,000 crore from liquid funds
towards the month-end to topple Reliance MF from the
number one position. However, Reliance had maintained
its top position by average AUM.
MF maintained its third position with Rs35,582.65 crore,
even though its AUM fell by 7.82 per cent from Rs38,602.99