Mutual Fund assets jump Rs29,400 crore to new record in November

04 Dec 2006

1

Helped by the strong rally in stock markets, the mutual fund industry has seen total assets under management rise to a new record in November. Total assets — excluding fund of funds — managed by the industry increased to Rs3,39,233 crore as at the end of the month from Rs3,09,830 crore as of end October 2006. The industry had Rs2,04,032 crore in assets under management as of November 2005.

UTI Mutual remained the biggest fund manager and extended its lead over second placed Prudential ICICI. Total assets of UTI went up Rs3,833 crore during the month to its highest ever. UTI had added more than Rs3,000 crore to assets under management during the previous month also.

Prudential ICICI retained the second spot with an increase of Rs2,568 crore in assets for the month, after adding close to Rs2,500 crore during the previous month. Reliance MF gained Rs3,065 crore to its assets and narrowed the gap with Prudential ICICI even further.

The best performer among all find houses was LIC MF, which gained Rs4,022 crore during the month. Other major gainers were DSP Merrill Lynch, HDFC MF and Kotak Mahindra.

Fund houses

Nov 2006

Nov 2005

Oct 2006

UTI MF

41,623

25,495

37,790

Prudential ICICI

35,232

21,023

32,664

Reliance MF

34,637

14,401

31,572

HDFC MF

29,555

18,088

27,553

Franklin Templeton

23,833

16,687

23,920

Birla Sun Life

17,475

12,794

16,822

LIC MF

16,481

5,202

12,459

SBI MF

15,961

10,870

15,496

Standard Chartered

12,894

10,587

12,542

DSP Merrill Lynch

14,277

7,840

11,718

Kotak Mahindra

13,542

7,217

10,938

Tata MF

12,522

10,444

12,474

Principal

11,887

7,056

10,051

HSBC

10,312

6,976

9,691

(Figures in Rs Crore Source: AMFI)

 

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