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The average assets under management of mutual fund companies rose by nearly ₹40,000 crore during the first quarter of the fiscal year to ₹12.34 lakh crore. The average AUM during January to March was ₹11.94 lakh crore. The increase in absolute assets is almost entirely due to inflows into the industry since the benchmark index Sensex saw only a marginal 1 per cent fall over the three-month period.
According to data available with the Association of Mutual Funds of India, HDFC continues to be the top fund house by asset size. Its average AUM for the quarter was ₹1.65 lakh crore, followed by ICICI at ₹1.55 lakh crore and Reliance at ₹1.44 lakh crore. Kotak Mahindra showed the highest percentage growth quarter-on-quarter among the top ten MFs.
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