Mutual Fund Industry Witnesses Tepid Growth In September Quarter

Mutual Fund Industry Witnesses Tepid Growth In September Quarter

According to the data released by the Association of Mutual Funds in India, the mutual fund industry noticed a tepid growth in the September quarter. The industry saw a marginal growth of 0.7 percent in average assets under management across the past fourth. Other fund houses in the mutual fund industry also witnessed a marginal reduction in assets. 

As of the source, Indiabulls Mutual fund’s average asset size reduced up to 50 percent. PGIM India MF observed 20 percent and IDBI also saw a marginal reduction up to 20 percent. 

Reliance Nippon Life Insurance is a leading private sector life insurance in India. It also observes a reduction in the size of its assets. Nippon India MF (RNLF AMC) decline by Rs 19,926 crore. 

Other mutual fund houses L&T, Tata, UTI, and Indiabulls saw a marginal decrease in its asset size up to Rs 4,500 crore. L&T Mutual fund decline of Rs 4,283 crore while Tata Mutual Fund saw Rs 3,995 crore. Moreover, UTI and Indiabulls Mutual Funds saw Rs 3,637 crore, Rs 2,293 crore respectively.

As of the source, the top gainers of MF such as HDFC MF, SBI MF, IDFC MF, ICICI MF, and Kotak Mahindra MF also witnessed a marginal gain. In terms of percentage, IDFC, MF, Mirae AMC, and PPFAS MF observes up to 12-14 percent of gains.

Highest Growth Assets

 Average AUM (Rs crore)
 Jun qtr  Sep qtr  Absolute Change  % change
 IDFC MF 82,279  94,150 11,871 14.43
 Mirae AMC  29,260 33,282 4,022 13.75
 PPFAS MF 2,116  2,378  262  12.38

Most De-Growth Assets

 Average AUM (Rs crore)
 Jun qtr  Sep qtr  Absolute Change  % change
Indiabulls MF 4,530 2,237 -2,293 -50.62
PGIMIndia MF 5,412 4,264 -1,147 -21.20
BOI AXA MF 3,128  2,479 -649 -20.75

0 Reviews

Write a Review

Read Previous

Buy Siemens, Cummins India, Manappuram Finance, Berger Paints & Metropolis Healthcare

Read Next

Buy ICICI Bank, IndusInd Bank, Hindustan Petroleum & Sun Pharmaceutical

Leave a Reply

Your email address will not be published. Required fields are marked *

Translate »