Pru ICICI overtakes Reliance MF to become top fund house
02 March 2007Mumbai: Prudential ICICI has become the country's largest fund house in February with assets under management of more than Rs43,000 crore, overtaking Reliance Mutual Fund.
According to latest data available with the Association of Mutual Funds in India, Pru ICICI with assets under management (AuM) at Rs43,280 crore last month had increased its AuM by Rs8,534.28 crore from its AuM of Rs34,745.72 in January.
Reliance MF, which was at the top last month, has moved down to the second spot with an AuM of Rs42,209 crore, ahead of UTI MF with AuM of Rs38,602 crore.
HDFC Mutual Fund follows at the fourth place with AuM of Rs31,079.88 crore and Franklin Templeton MF with Rs22,102.19 crore.
However, in terms of average assets under management for February Reliance MF remains on top at Rs43,586 crore, while that of Pru ICICI is Rs39,079 crore.