MF assets grow 5 per cent

MF assets grow 5 per cent Reliance MF has emerged as the top gainer and the largest fund house in the country in June, raising funds worth Rs 5,000 crore and increasing assets under management (AUM) to Rs 1,08,332.36 crore. The MF industry reported five per cent increase in its average assets under management with its AUM growing by Rs 31,863.31 crore.

The combined average AUM of the 35 fund houses was Rs 6,37,609.41 crore in May, which stood at Rs 6,70,993.13 crore in June, according to the figures released by the Association of Mutual Funds in India (AMFI).

The CEO of Mutual Fund tracking firm, Value Research, Dhirendra Kumar said: "There is no big reason as such for the slow growth in AUM in June and the increase can be attributed mainly to inflows in fixed income schemes, while they have been nominal in equity schemes."

The country's second largest fund house, HDFC MF, reported AUM at Rs 78,197.90 crore; while AUM of ICICI Prudential and state-run UTI MF standing at Rs 4,619.61 crore and Rs 4,540.32 crore, respectively.

AUM of LIC Mutual Fund stood at Rs 32,415 crore last month, reporting increase of Rs 3,816 crore. IDFC MF, DSP BlackRock, Deutsche MF and Kotak Mahindra MF also witnessed an AUM increase; while AUM of Canara Robeco MF, Birla Sun Life MF, Bharti AXA, HSBC MF, ING MF, and Taurus MF reported a decline during the reporting month.