The mutual fund industries in April recorded the largest growth in Average Asset Under Management (AAUM) after January 2008, when the stock market began to crash. This April witnessed a healthy growth of Rs.5.51Lakh-crore, an 11.7% up against the April 2008.
According to Associations of Mutual Funds in India (AMFI), out of 38 fund houses, 31 registered an increase in asset base, while four of them recorded drop.
The reason behind this increase was bull-run in the stock market and fresh inflows of fund into fixed income schemes that has matured last month, market experts believe.
In March, the total AAUM was Rs.4.93 lakh-crore, said AMFI.
The sharpest rise in assets was witnessed by Baroda Pioneer AMC, which registered a growth of 66 per cent at Rs 1,882 crore.
Baroda Pioneer, an Asset Management Company (AMC) registered the sharpest growth to Rs.1,882-crore, a rise of 66%, while the country's largest fund-house Reliance Mutual Fund (MF) topped the list of fund houses in country by marking massive growth of Rs.7,425-crore. In total Assets, it valued at Rs.88,378-crore.
HDFC MF, UTI MF, Birla Sun Life MF, ICICI Pru MF, and others followed the move of Reliance MF registering the growth of Rs 5,924 crore, Rs 5,735 crore, Rs 4,733 crore, and Rs. 4617 crore while at the end of April they collected total assets of Rs. 63,881 crore, Rs 54,490 crore, Rs 51,829 crore, and Rs 56,049 crore.
The SBI MF collected Rs. 30,875 crore, Tata MF Rs 19,438.81 while DBS Chola Mandalam MF gathered Rs 1,611.4 crore in April 2009.
Experts believe that if stock market continues in green run, the shift of assets from FDs to Equity market can boost the AAUM more.
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