Gold ETFs report 1% rise in assets in Sept quarter

India Infoline News Service | Mumbai |

HDFC Mutual Fund retained its top position by total assets managed across fund houses in the September quarter

Gold ETFs (exchange traded funds) saw a 1% rise in assets in the September 2013 on account of mark to market (MTM) gains as local gold prices, represented by the CRISIL Gold Index, rose over 18% during the quarter.

The category, however, saw redemptions worth Rs 989 cr in the quarter, CRISIL said in its monthly funds newsletter called CRISIL Fund Insights.

HDFC Mutual Fund retained its top position by total assets managed across fund houses in the September quarter. However, the fund's average assets under management (AUM) was down by Rs 1,930 cr or 1.8% to Rs 1.03 lakh cr over the quarter.

Out of the 44 fund houses, 34 posted a fall in quarterly AUM. Share of the top five mutual fund houses by AUM was 53% in the quarter (same as previous quarter) while the share of top 10 fund houses by AUM was 79% (78% in previous quarter).


Bottom 10 fund houses continued to occupy less than 1% of the average AUM. In terms of month-end assets, AUM fell by 2.6% or Rs 20,134 cr to Rs 7.46 lakh cr in September. Most MF categories saw outflows in the month with money market funds witnessing largest outflow of Rs 28,019 cr from total outflow of Rs 33,910 cr.









 

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