labels: finance - general, investment - general, mutual funds
Mutual Fund assets decline Rs15,582 crore in Septembernews
05 October 2006

After the sharp rise in assets under management recorded in August 2006, the mutual fund industry has seen an outflow of funds during Sept 2006 even as the equity markets continued to rally. Total assets, excluding fund of funds, declined to Rs2,91,200 crore as of end September, from Rs3,06,782 crore as of August end.

The decline in assets has been mostly attributed to large scale redemptions from debt schemes. However, total assets under management for end September is still higher than end of July 2006, which was at Rs2,88,501 crore.

UTI Mutual remains the top fund house in the country, having ended Prudential ICICI's brief reign of three months at the top in August 2006. Prudential ICICI continues to occupy the second spot with Reliance MF close on its heels.

Most fund houses saw net outflows from their funds and Prudential ICICI saw the biggest decline in absolute terms, losing nearly Rs4,000 crore. In percentage terms, the biggest loser was Standard Chartered which is reportedly looking to sell the AMC. Other major losers were Birla Sun Life, Principal and Franklin Templeton.

Fund House Sep 2006 Sep 2005 Aug 2006
UTI MF
34,755
24,969
35,027
Prudential ICICI
30,210
21,477
34,119
Reliance MF
28,648
14,421
28,753
HDFC MF
25,639
18,865
25,892
Franklin Templeton
23,060
17,435
24,198
SBI MF
15,101
10,704
15,023
Birla Sun Life
14,615
12,131
17,098
Tata MF
12,500
9,699
12,563
Standard Chartered
11,765
9,379
15,551
DSP Merrill Lynch
11,467
6,315
10,980
Kotak Mahindra
10,949
7,964
12,530
Principal
10,557
7,378
12,  070
HSBC
9,518
7,450
10,684
Figures in Rs Crore      Source: AMFI
                                                                 

 


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Mutual Fund assets decline Rs15,582 crore in September