MFs’ AUM rises over 4% to Rs 25.49 lakh cr
   Date :05-Jul-2019
Business Bureau:
Mutual Funds’ asset base increased to Rs 25.49 lakh crore in April-June 2019, a rise of 4.14 per cent over the previous quarter, on the back of increased retail participation. The asset base of the industry, comprising 44 players, stood at Rs 24.48 lakh crore in the preceding three months, according to data by the Association of Mutual Funds in India (AMFI).
In recent months, the mutual fund industry has been grappling with redemption pressures in the wake of debt crises at various groups, including IL&FS, Essel and DHFL. Fund managers said apart from more retail participation, rise in equity markets as well as inflows in money market funds led to the rise in assets under management (AUM). The total asset base of the industry was Rs 23.04 lakh crore in the same period a year ago.
Of the 44 fund houses, as many as 24 witnessed growth in their asset base during the period under review as compared to the January-March quarter. DHFL Pramerica Mutual Fund, Essel Mutual Fund and DSP Mutual Fund were among the fund houses that saw a decline in their AUMs. In terms of asset size, HDFC MF continued to lead the pack with an AUM of Rs 3,62,538 crore (excluding fund of funds) at the end of the June quarter.