Mutual funds assets under management (AUM) rose around 8% to Rs. 546.81 billion in the second quarter of the current financial year 12-13 due to improved stock market sentiment which helped AMCs to attract fresh investments.
According to the latest data released by AMFI (Association of Mutual Funds in India), the total average AUM of 44 AMCs increased to Rs. 7,537.03 billion in September 2012 quarter from Rs. 6,990.22 billion in the previous three-month period. This included the AUM of Fund of Funds managed by the AMCs in the domestic and overseas markets, the media reports added.
Of the 44 AMCs, 32 witness their AUMs rise during the July-September quarter of the current fiscal. Most AMCs, including leading HDFC, Reliance and UTI MFs saw their AUMs rise during the last quarter. However, AMCs such as BNP Paribas, Canara Robecco, Edelweiss, Fidelity, JM Financial and Taurus Mutual Funds recorded a decline in their AUMs from the levels seen in the first quarter of FY12-13.