Financial Daily from THE HINDU group of publications
Thursday, Mar 27, 2003
Financial Daily from THE HINDU group of publications Thursday, Mar 27, 2003 |
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Markets
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Mutual Funds HDFC-Zurich MF ahead of Pru ICICI in asset value Our Bureau
KOLKATA, March 26 HDFC Mutual Fund, which has taken over Zurich India, has gained a lead over Prudential ICICI Mutual Fund in terms of assets under management. The latest figures supplied by the Association of Mutual Funds in India (AMFI) indicate that the HDFC-Zurich combine had Rs 10,224 crore in assets as on February 28. Prudential ICICI, which has for long reigned as the top fund house in the private sector, came second with Rs 10,176 crore. Zurich added Rs 3,319 crore to HDFC MF's kitty as on that date. Franklin Templeton MF stood a distant third, given its asset base of Rs 9,836 crore, followed by Birla Sun Life MF. The latter had Rs 6,069 crore assets under management. The industry leader, however, remained the new-look UTI MF, thanks to its aggregate corpus Rs 14,476 crore. SBI MF, which was next in the public sector (bank-sponsored) category, had Rs 3,884 crore. Interestingly, the Dr A.C. Muthiah-promoted First India MF, currently the target for acquisition by the Sahara India group, has managed to increase its asset size over the previous month. The latter stood at Rs 120 crore in end-February.
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