VR Logo

MF Assets Drop In December

Though the year was a resounding success for the mutual fund industry, the month of December saw its assets fall from all-time highs

The last month of the year ended with a whimper for the mutual fund industry, but the year as a whole was a resounding success. After having undergone a torrid 2008, when even the existence of some funds was threatened by the global meltdown's effect on India, 2009's recovery has almost doubled its assets.

The industry's assets under management (AUM), after climbing to all-time highs in November, 2009, when they touched Rs 805,684.48 crore, witnessed a dip of 1.62 per cent for the month of December, 2009.

The total assets for December, 2009 stand at Rs 792,665.68 crore. However, going back 12 months, in December, 2008, total assets of the industry stood at Rs 420,205.57, which marks a gain of 88.64 per cent for 2009 over that period.

When it comes to fund houses, if AUM comparisons are made against last year, it is Baroda Pioneer MF whose assets grew the maximum by 80.67 times. While in December 2008, its AUM was Rs 36.99 crore in December, 2009, it rose to Rs 2,984.12 crore.

There were noticeable laggards too. From December, 2008 to December, 2009, altogether three fund houses witnessed a fall in their assets: ING MF, HSBC MF and Benchmark MF. They witnessed a negative growth of 45.44 per cent, 30.80 per cent and 11.76 per cent.

In terms of assets, the biggest fund house, Reliance MF, has increased its assets by 70.89 per cent since December, 2008 from Rs 70,208.10 crore to Rs 119,981.79 crore in December, 2009. Over the same period, the second-biggest fund house,HDFC MF has increased its assets by an even better 107.85 per cent.

Out of a total of 37 fund houses, 25 of them have witnessed a fall in their assets in December, 2009. In terms of percentage, it was Shinsei MF which witnessed the maximum fall in their assets by a negative 24.29 per cent, while Benchmark MF witnessed the maximum rise in assets by 20.10 per cent in December.

Reliance MF also saw a fall in its assets in December, 2009 by 1.86 per cent. However, HDFC MF witnessed a bigger fall as it assets stood at Rs 97,183.85, thus going into the negative by as much as 5.09 per cent.

ICICI Prudential MF however, remained in the green and its assets rose by 0.36 per cent in December. The other big fund house, UTI MF, saw a fall in its assets by 2.12 per cent in December with its assets touching Rs 78,203.44 crore.


An Eventful, & Gainful, Journey
     Assets (Rs cr)    
Fund Houses    Dec '09    Change(%) from Dec '08
Baroda Pioneer Mutual Fund   2,984   7,967
Taurus Mutual Fund   1,898   731
Religare Mutual Fund   15,865   296
LIC Mutual Fund   49,681   268
Sahara Mutual Fund   499   201
Kotak Mahindra Mutual Fund   41,402   190
IDFC Mutual Fund   25,361   186
DBS Chola Mutual Fund   2,901   164
Bharti AXA Mutual Fund   634   126
Canara Robeco Mutual Fund   8,517   108
HDFC Mutual Fund   97,184   108
JPMorgan Mutual Fund   4,252   108
ICICI Prudential Mutual Fund   82,432   97
Deutsche Mutual Fund   13,613   93
Birla Sun Life Mutual Fund   68,066   86
UTI Mutual Fund   78,203   84
Reliance Mutual Fund   119,982   71
Fortis Mutual Fund   8,602   69
Edelweiss Mutual Fund   130   68
Franklin Templeton Mutual Fund   31,962   66
Quantum Mutual Fund   85   55
SBI Mutual Fund   37,900   52
JM Financial Mutual Fund   8,853   51
DSP BlackRock Mutual Fund   20,183   51
Fidelity Mutual Fund   8,350   43
Sundaram BNP Paribas Mutual Fund   13,076   36
Tata Mutual Fund   23,779   35
AIG Global Inv Grp Mutual Fund   1,787   35
Mirae Asset Mutual Fund   264   33
Principal Mutual Fund   8,148   32
Morgan Stanley Mutual Fund   2,299   26
Escorts Mutual Fund   209   9
Benchmark Mutual Fund   2,008   -12
HSBC Mutual Fund   7,020   -31
ING Mutual Fund   1,517   -45
Axis Mutual Fund*   2,569   -
Shinsei Mutual Fund*   448   -

                                      *These funds are not yet an year old.