Massive outflows in fixed maturity plans (FMP) and liquid schemes have resulted in a steep fall in assets under management (AUMs) of fund houses i Reliance Mutual Fund has retained its numero uno position, but its average AUM of Rs 71,093 crore is down 18% over the previous month, and is back to levels seen in September last year. This fund house had seen its AUM cross Rs 1 lakh crore in April this year. HDFC, which had earlier displaced ICICI Prudential as the second-largest fund house, reported an average AUM of Rs 45,479 crore for October, down 12.5% over the previous month. The third-largest AMC, ICICI Prudential, is yet to disclose its asset position for the month. Other fund houses that have reported steep decline in AUMs include AIG Global (-44.2%), Canara Robeco (-33.6%), Lotus India (-31.2%), Principal AMC (-29.7%), Deutsche AMC (-28.4%) and DBS Cholamandalam (-25.5%). Birla Sunlife Mutual Fund and Unit Trust of India too are yet to disclose their average AUM for October. | |
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