The AUM of mutual funds rises from 4 p.m. to Rs 25.49 crores in the June quarter
New Delhi, July 4 () The asset base of mutual funds increased to Rs 25.49 crore in April-June 2019, an increase of 4.14 percent from the previous quarter, in light of the increase in retail participation.
The industry's asset base, composed of 44 players, stood at Rs 24.48 crore in the previous three months, according to data from the Mutual Funds Association in India (AMFI).
In recent months, the mutual fund industry has been grappling with redemption pressures in the wake of debt crises in several groups, including ILu0026FS, Essel and DHFL.
The fund managers said that, apart from a larger retail share, the increase in equity markets and the inflows of money market funds led to the increase in assets under management (AUM).
The total asset base of the industry was Rs. 23.04 in the same period of the previous year.
Of the 44 fund houses, up to 24 experienced a growth in their asset base during the period under review compared to the January-March quarter.
DHFL Pramerica Mutual Fund, Essel Mutual Fund and DSP Mutual Fund were among the fund houses that registered a decrease in their AUM.
In terms of asset size, HDFC MF continued to lead the package with an AUM of Rs 3,62,538 crore (excluding the fund of funds) at the end of the June quarter, followed by ICICI Prudential MF (Rs 3,37,286 crore) and SBI MF (Rs 3.07,534 crore). In a statement, SBI Mutual Fund said it is the number one in terms of adding AUM, which increased by Rs 23,718 crore in the period analyzed. VHP ABM ABM