MF industry enjoys 5.3% jump in AUM in Oct.-Dec. 2012

MF industry enjoys 5.3% jump in AUM in Oct.-Dec. 2012The mutual fund (MF) industry enjoyed an increase of 5.3 per cent or around Rs 39,200 crore in the average assets under management (AUM) to Rs 7.87 lakh crore in the October to December quarter of 2012.

This is the highest level since the Association of Mutual Funds of India (AMFI) started declaring quarterly average numbers in September 2010. The figure for the past quarter also marked the third successive quarterly gain in assets.

In the full 2012, The AUM of MFs jumped 15 per cent, as compared with just 1 per cent in the previous year.

Overall, 35 out of 43 fund houses reported an increase in average AUM. In absolute and percentage terms, the L&T MF reported the highest growth in assets.

But, HDFC MF continued at the top position in the October to December, with an average AUM of around Rs 1.01 lakh crore, up 3.7 per cent from the previous year period. With average AUM of nearly Rs 90,600 crore, Reliance MF followed at the second position.

Assets of long-term debt funds climbed 62 per cent to Rs 63,200 crore in the quarter under review, while gilt funds jumped 48 per cent to Rs 4,800 crore during the same period.

Various fund houses are making a big push towards international markets. HSBC Mutual Fund, Reliance Capital Asset Management, Axis Mutual Fund and Franklin Templeton have already filed their offer documents for setting up overseas funds with capital market regulator SEBI.