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Massive Drop In AUM

The amount of investment being managed by mutual funds dropped sharply in October

With the asset data of 17 out of 35 fund companies already in, it is becoming clear that the Indian mutual fund industry shrank sharply in October 2008. On September 30th, these 17 AMCs were managing Rs 2.13 lakh crore. On October 30th, this was down to Rs 1.73 lakh crore, a drop of almost Rs 40,000 crore.

Based on this partial data, Value Research estimates that the total drop in the industry's size in October could possibly be as much as Rs 1.4 lakh crore, or about a quarter of its size at the end of September.

This decline factors in both redemptions as well as NAV losses due to the markets' decline. Value Research's in-depth analysis of the decline will be available later in the week as complete data will be available.

Here's a complete list of the fund companies who have released data by the aftrenoon on November 3rd. The biggest loser by amount is Reliance Mutual and by percentage is Canara Robeco.

 
Assets (Rs Cr)
Change
Fund Company
Oct '08
Sep '08
%
Amount
ABN AMRO 
7,127.2
8,965.8
-20.5
1,838.6
Benchmark 
3,412.9
3,904.7
-12.6
491.7
Bharti AXA 
470.2
470.5
-0.1
0.3
Canara Robeco 
3,985.2
6,006.3
-33.6
2,021.1
DBS Chola 
1,193.9
1,603.4
-25.5
409.5
DSP Merrill Lynch 
14,868.8
18,512.1
-19.7
3,643.3
Edelweiss 
228.0
302.0
-24.5
74.0
Escorts 
191.0
211.3
-9.6
20.3
IDFC 
10,239.9
11,855.5
-13.6
1,615.6
JPMorgan 
1,879.1
2,400.3
-21.7
521.2
Kotak Mahindra 
14,916.2
18,812.6
-20.7
3,896.5
LIC 
13,186.7
16,168.4
-18.4
2,981.8
Lotus India 
5,457.7
7,937.1
-31.2
2,479.4
Quantum 
59.8
69.4
-13.8
9.6
Reliance 
71,093.7
86,494.5
-17.8
15,400.7
Sahara 
171.3
181.5
-5.6
10.2
SBI 
24,727.0
29,247.8
-15.5
4,520.8