Surging stocks boost MF assets to ₹29.7 lakh cr. in Dec. quarter

Mutual fund asset base rose by 7.6% to ₹29.71 lakh crore in the quarter ended December, mainly on account of the rally in equity markets.

The average assets under management (AAUM) of the industry, comprising 45 players, was at ₹27.6 lakh crore in July-September quarter, according to data by Association of Mutual Funds in India (AMFI).

The surge in asset base comes on the back of excellent stock market performance over the last three months, with Nifty 50 rising by 3.15% in October, 12.02% in November and 14.9% in December, Gopal Kavalireddi, head of research at FYERS, said.

“The increase in quarterly asset base is majorly due to mark-to-market gains in equity-oriented mutual funds. Markets being at an all-time high has resulted in this, although there have been net outflows in this quarter,” said Omkeshwar Singh, head, RankMF at Samco Securities. Of the 42 operational AMCs, the top four AMCs — SBI MF, HDFC MF, ICICI Prudential MF, Aditya Birla Sunlife MF — continue to dominate and account for 50% of total assets of the mutual fund industry.

With an asset base of ₹4.56 lakh crore, SBI Mutual Fund continues to be the largest fund house in India during the December quarter. It had an average AUM of ₹4.21 lakh crore in the preceding quarter. This indicates a growth of 8.3% quarter-on-quarter.

HDFC MF, which is at the second position, saw its asset base rising to ₹3.89 lakh crore from ₹3.75 lakh crore in the September quarter.

ICICI Prudential MF came in third with an average AUM of ₹3.8 lakh crore compared to ₹3.6 lakh crore.

Aditya Birla Sunlife MF, has seen its average AUM growing to ₹2.55 lakh crore from ₹2.39 lakh crore The asset base of Kotak Mahindra MF soared 13% to ₹2.16 lakh crore at the end of the December.

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