The mutual fund industry witnessed nearly 3 per cent growth in its assets under management over April, with the country’s second largest fund house HDFC MF adding over Rs. 5,900 crore to it.
The industry’s average assets under management (AUM) rose by Rs. 20,836 crore or 2.71 per cent during April. The combined average AUM of the 37 fund houses stood at Rs. 7,68,361 crore.
The country’s top three fund houses — Reliance MF, HDFC MF and ICICI Pru — together saw their assets surge by Rs. 9,376 crore, with HDFC MF alone accounting for Rs. 5,923 crore.
Over April, the largest fund house Reliance MF saw an addition of Rs. 1,407 crore to its average assets to Rs. 1.12 lakh crore, as per data released by the Association of Mutual Funds in India (AMFI).
At the end of April, HDFC MF’s inched closer to the Rs. 1 lakh crore to stand at Rs. 94,702.79 crore.
The third largest fund house ICICI Prudential MF saw its assets rising by Rs. 2,046.66 crore to Rs. 83,036 crore.
Keywords: mutual fund industry