Mutual funds register 4% growth in assets in Q1 FY13

Debt-oriented funds were the major contributors to the rise

July 04, 2012 5:27 IST | India Infoline News Service
The Indian mutual funds registered a 4% growth in the asset base during the first quarter of the financial year. The mutual fund industry added over Rs. 273.89 billion during the first quarter of FY12-13, taking the industry assets under management (AUM) to Rs. 6.92 trillion from Rs. 6.64 trillion, according to data released by the Association of Mutual Funds in India.

Debt-oriented funds were the major contributors to the rise. Assets of liquid funds rose by Rs. 169 billion, ultra short term debt funds increased by Rs. 69 billion, fixed maturity plans (FMPs) gained by Rs. 29 billion and other debt-oriented funds grew by Rs. 58 billion over the past quarter. Equity funds witnessed a decline of Rs. 53 billion in AUM due to weak sentiments prevailing in the asset class in the quarter gone by. AUM refer to the total market value of investments managed by a mutual fund at the end of any time period.

HDFC Mutual Fund continued to retain its top position by reporting assets of over Rs. 926.25 billion, up 3% from last quarter. Reliance MF ranked second with assets worth Rs. 806.94 billion followed by ICICI Prudential MF with AUM worth Rs. 730.5 billion. SBI Mutual Fund’s AUM stood at Rs. 471.84 billion, a growth of 12%, for the first quarter of FY12-13.

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