Mutual fund AUM down 16 per cent at Rs6,78,858 crore in June; Reliance MF AUM falls 15 per cent
02 Jul 2010
The mutual fund industry saw a steep fall in its average assets under management (AUM) in June, with more than a 36 per cent plunge for certain companies, as investors withdrawals offset gains on an upward move in the equity market.
The average assets under management (AUM) of the 39 fund houses in the country were down Rs1,27,000 crore or 16 per cent in June.
The industry's average AUM was down at Rs6,75,858 crore, as per data provided by industry body AMFI.
Reliance MF saw a drop of 15 per cent in its AUM, while JM Financial and Axis MF were the biggest losers at over 36 per cent. Reliance is the largest fund house in India.
The end of June saw Reliance's AUM drop by around Rs18,000 crore to Rs101,000 crore.
The AUM of the second-largest fund house, HDFC MF, was down 15 per cent or over Rs15,000 crore, to Rs86,648 crore. Also, ICICI Prudential MF saw its average assets plunge by 16 per cent to Rs73,800 crore.
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