MF assets rise Rs 85,000 cr to Rs 8.78 lakh cr in 2013

Assets managed by mutual funds rose almost Rs 85,000 crore,  or about 11 per cent to Rs 8.78 lakh crore in 2013.

The country’s 44 fund houses together had an average AUMs (Assets Under Management) of Rs 7,93,331 crore at the end of 2012, which increased to Rs 8,77,973 crore in 2013, as per the latest data available with industry body AMFI (Association of Mutual Funds in India).

Of the 44 fund houses, 26 saw their AUMs rise during the period, while 17 witnessed a decline. The registration of Daiwa MF has been cancelled by Sebi following the transfer of its schemes to SBI MF.

Among the large funds, ICICI Prudential MF was the biggest gainer followed by Reliance MF, while HDFC MF saw the smallest growth.

In terms of total funds, HDFC MF retained the top slot, followed by Reliance MF and ICICI Prudential.

HDFC MF had average AUMs of about Rs 1.09 lakh crore at the end of 2013, 7.5 per cent rise from the preceding year.

ICICI Prudential’s AUMs increased about 19 per cent to Rs 97,200 crore, while Reliance MF’s AUM climbed by 13 per cent to Rs 1.02 lakh crore.

Among the gainers mutual funds included - UTI, SBI, Axis, Baroda Pioneer, Birla Sun Life and Franklin Templeton.

However, Canara Robeco, Goldman Sachs, Edelweiss, IDBI, Indiabulls Mutual and Tata Mutual Fund, among others witnessed a decline in their AUMs from 2012  level.

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