The assets under management (AUM) of the mutual fund industry dipped once again in March after having risen in February. The industry's total AUM stood at Rs 7,43,783.24 crore, a fall of 4.28 per cent compared to its end-February figure.
In January, the fund industry's AUM had dipped 4 per cent compared to its December AUM. However, in February it rose to 7,81,154.27 crore, up 2.65 per cent compared to the end-January figure.
Of the 37 (out of the total 38) fund houses whose AUMs were made available by the Association of Mutual Funds of India (Amfi), 22 witnessed a decline in their AUMs. In January, too, an equal number of fund houses had seen their AUMs decline, while in February the number had been only 14.
The fund house that saw the highest decline in AUM in March was JP Morgan: it lost 23.68 per cent of its AUM. The next biggest loser was AIG, whose AUM declined by 20.62 per cent. In addition, eight fund houses saw their AUMs decline by more than 10 per cent.
The larger fund houses too saw their AUMs erode. Reliance Mutual Fund's AUM stood at Rs 1,10,412.71 crore at the end of March, a decline of 4.61 per cent. Other large fund houses suffered similar losses. HDFC's AUM fell 6.69 per cent to Rs 88,779.84 crore while Birla Sun Life's assets fell 5.97 per cent to Rs 62,367.11 crore.
ICICI Prudential and UTI, however, managed to buck the trend of declining AUMs. Their AUMs grew 0.57 per cent and 1.14 per cent respectively during March.
In terms of percentage change, the latest entrant into the industry, Peerless Mutual Fund, witnessed the highest increase in AUM -- 149.88 per cent. In February its AUM stood at Rs 121.10 crore while in March it rose to Rs 302.60 crore.
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