MFs' average AUM grew 7% in Q1FY18

For the mutual fund industry, the new financial year 2017-18 started on a very good note. According to the data released by Association of Mutual Funds in India (AMFI), the quarterly average assets under management (AUM) of the Indian mutual fund (MF) industry witnessed growth of 7 per cent in the first quarter of current financial year as compared to the preceding quarter. The assets of the MF industry grew from Rs 18.28 lakh crore to Rs 19.52 lakh crore in the quarter ended June 2017, showing a growth of about Rs 1.24 lakh crore.

The AUM of the Kotak Mahindra Mutual Fund has crossed Rs 1 lakh crore in the Q1FY18. The Kotak Mutual Fund had added near about Rs 9,000 crore to its kitty in order to reach Rs 1.01 lakh crore in the first quarter of FY2017-18, as compared to AUM of Rs 92,216 crore in the quarter ended March 2017.

The Q1FY18 turned out to be very good for the Axis Mutual Fund as it has now become the tenth largest fund house, overtaking the  IDFC Mutual Fund. Nearly Rs 6000 crore has been added by the Axis MF to its kitty in order to reach AUM of Rs 63,600 crore. For the quarter ended June 2017, the AUM of IDFC MF stood at Rs 61,361 crore. Birla Sun Life MF became the fourth largest fund house to cross AUM of Rs 2 lakh crore.

ICICI Prudential, HDFC, Reliance and Birla Sun Life are some of the companies that are still at the top in terms of asset size, while DHFL Pramerica, Tata, JM Financial, Indiabulls, IDFC, Peerless and Taurus are the only seven fund houses out of 39 AMCs that witnessed a decline in their quarterly AUMs.