labels: investment - general, mutual funds
Mutual Funds see Rs10,000 crore outflows in Junenews
07 July 2006

The market decline, which started in May, has finally taken its toll on the mutual fund industry. The industry saw a net fund outflow of more than Rs10,000 crore during the month of June 2006. Total assets under management for the industry, excluding fund of funds, fell to Rs2,65,871 crore as of end June from Rs2,75,949 crore as of May end.

Prudential ICICI Mutual managed to hang on to its position as the top fund house in the country for the second straight month. Despite erosion in assets under management during June 2006, Pru-ICICI beat UTI Mutual Fund to the top by a very thin margin.

Pru-ICICI lost Rs2,008 crore in assets under management during the month while UTI MF saw net outflows of only Rs436 crore during the month. Other major losers include Reliance MF, Birla Sun Life, DSP Merrill Lynch and Kotak Mahindra.

HDFC MF, Tata MF, Standard Chartered and HSBC MF managed to increase their assets under management during the month.

Fund

June 2006

June 2005

May 2006

Prudential ICICI

30,143

17,042

32,151

UTI MF

30,115

16,528

30,551

Reliance MF

26,314

9,908

27,915

HDFC MF

24,391

15,708

23,650

Franklin Templeton

21,650

16,255

22,360

Birla Sun Life

14,610

10,027

16,991

SBI MF

13,634

7,189

13,670

DSP Merrill Lynch

11,074

6,473

12,914

Tata MF

11,159

8,714

10,464

Kotak Mahindra

10,326

6,263

11,818

HSBC

10,451

7,251

10,174

Standard Chartered

9,551

7,526

8,524

Figures in Rs Crore
Source: AMFI

 


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Mutual Funds see Rs10,000 crore outflows in June