Equity MF assets at record high in April-June

New Delhi: After logging the first fall in 10 quarters during January-March, the assets managed by equity mutual funds (MFs) jumped to a record high for the quarter ending June. The average assets under management (AUM) of equity MFs surged about 7.6% quarter-on-quarter (q-o-q) or by Rs 33,418 crore to Rs 4.74 lakh crore during April-June on the back of a strong showing by the capital markets amid robust inflows into schemes.

Banking, small-cap and mid-cap indices were among those that posted strong double digit growth during the period. The consumer goods index was the best performer during April-June soaring by about 18% and was followed by the banking index that jumped over 12%.

The benchmark Sensex and the broader Nifty gained about 7.4% and 7.9% respectively in April-June. The equity category saw inflows of Rs 9,159 crore during April-May, data with the Association of Mutual Funds in India (AMFI) showed.

Incidentally, the average AUM of equity MFs crossed the Rs 4 lakh crore mark for the first time in the quarter ending June last year. The assets of equity MFs dropped by Rs 14,118 crore or 3.11%, the biggest absolute fall since December 2011, to about Rs 4.40 lakh crore at the end of March this year. Further losses were arrested as investors continued to plough money despite the volatility in the markets.

The average AUM of the MF industry surged past the Rs 14 lakh crore mark for the first time ever for the quarter ending June this year. Average AUM increased around 6.5% q-o-q or an absolute gain of Rs 87,583 crore, the highest ever, to Rs. 14.41 lakh crore during the period. The average AUM of direct plans rose to a new high of Rs 5.35 lakh crore, up 8.1% q-o-q or Rs 39,908 crore. The share of direct plans in overall AUM inched up marginally to 37.12% from 36.57% in the preceding quarter, data compiled by ratings agency Crisil showed.

ICICI Prudential, which shot past HDFC to emerge as the largest fund house in the country at the end of March, has retained its top slot. The AUM of ICICI increased 9.9% q-o-q to Rs 1,93,300 crore at the end of June, AMFI data showed. HDFC MF came a close second with its AUM growing by about 9.7% to Rs 1,92,800 crore.

SBI MF logged the highest growth of around 12.3% in AUM for the quarter among large fund houses. Its assets touched nearly Rs 1.2 lakh crore.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.