Mutual Funds AUM Report - AUM up by 7.32%

Assets under management (AUM) registered an impressive rise of 7.32% to Rs 5.67 lakh crore in April 2008 compared with Rs 5.28 lakh crore in March 2008. AUM of fund of funds (FoFs) was Rs 3759.02 crore in April 2008. It has been the highest monthly gain in AUM since October 2007.
Of the 33 mutual funds 26 registered a rise in AUM in April 2008 over March 2008 and rest 7 showed a decline in their AUM. There were 17 fund houses with AUM above Rs 10000 crore. Fifteen of them had a net inflow in April 2008 compared with March 2008.
The top three funds witnessing a rise in the AUM included Mirae Mutual Fund (95.18%), Canara Robeco Mutual Fund (30.35%) and AIG Global Investment Group Mutual Fund (21.71%). Reliance Mutual Fund continued its run as the largest fund house with Rs 96386.40 crore of AUM in April 2008 a rise of 5.99% over March 2008. It registered net inflow of Rs 5448.46 crore in April 2008 over March 2008. AUM of ICICI Prudential Mutual Fund was at Rs 55708.52 crore in April 2008 a rise of 2.55% in AUM over March 2008 continued to be at the second position.
AUM of UTI Mutual Fund increased by 7.28% whereas AUM of HDFC Mutual Fund increased by 15.63% in April 2008 over March 2008. Occupying the third and fourth slots, AUM of UTI Mutual Fund and HDFC Mutual Fund were Rs 52549.40 crore and Rs 51770.81 crore, respectively. Both the fund houses were in the third and fourth positions in March 2008.
The other top mutual funds, in terms of AUM, were Birla Sun Life Mutual Fund (Rs 39489.22 crore), SBI Mutual Fund (Rs 30394.73 crore) and Franklin Templeton Mutual Fund (Rs 28631.63 crore) in April 2008. The assets of Birla Sun Life Mutual Fund increased by 9.98% in April 2008 whereas Franklin Templeton Mutual Fund showed an increase of 6.67%.
HDFC Mutual Fund recorded the highest inflow of Rs 6997.65 crore in April 2008 followed by Reliance Mutual Fund with a net inflow of Rs 5448.46 crore. Occupying the third and fourth slots, Birla Sun Life Mutual Fund and UTI Mutual Fund recorded the highest inflow Rs 3583.18 crore and Rs 3566.59 crore, respectively.
Deutsche Mutual Fund recorded the second highest net outflow of Rs 794.77 crore in April 2008, after JM Financial Mutual Fund, which secured its top position with an outflow of Rs 864.86 crore, followed by Benchmark Mutual Fund and ING Vysya Mutual Fund, with a net outflow of Rs 378.42 crore and Rs 138.33 crore, respectively.

New plans of Edelweiss

Edelweiss Capital, a Mumbai based financial services company has received the approval from the market regulator, SEBI, to start its asset management business. As per the press release yesterday, Edelweiss Asset Management Ltd will act as an investment manger for Edelweiss Mutual Fund, whom the registration has been granted. The asset management company plans to launch more than 8-9 products in the mutual fund domain within one year, which will include broad based equity funds, structured funds, arbitrage funds and other innovative fixed income funds and equity funds inline with the requirements of the market. The group company’s businesses include investment banking, insurance brokerage and wealth management.

The Elephant of the Indian mutual fund industry is just away from a marvelous milestone

Reliance Mutual Fund the country’s largest fund house in terms of asset under management is astray by Rs. 4000 crore to strike the miraculous Rupee One Trillion mark. According to the latest figures available on Association of Mutual Funds in India (AMFI), Reliance MF’s average asset under management (AAUM) is Rs. 96,386.40 crores at the end of April, 2008, a 6% growth in AAUM from 90,937.94 crores till March 30. Reliance MF acquires the lion’s share by managing 17% assets of the entire mutual fund industry as per the April month closing data. Reliance MF is continuously stretching the gap with it peers, as since over a year and 3 months the scheme is unbeatably ruling the mutual fund industry. Its closest peer ICICI Prudential MF AAUM stood at Rs 55,708.52 crore. UTI MF stood at the third position with an AAUM of 52,549.40 crores, and HDFC MF which grew 15% ranked fourth in the 34 – member mutual fund industry.