Fund industry's AUM up 4.5 per cent in May

The cumulative asset under management (AUM) of the mutual fund industry grew by 4.5 per cent in May as compared to the previous month. This translates into an absolute growth of Rs 34,503.46 crore during the period. According to data provided by the Association of Mutual Funds of India (Amfi), the total AUM of the industry stood at Rs 8,05,239.37 crore at the end of May.

Among the 38 fund houses whose data has been made available, 23 fund houses registered a growth in their AUMs. Of these, 10 fund houses witnessed double-digit growth in their AUMs compared to the previous month.

New entrant Peerless Mutual Fund registered the highest percentage growth in AUM in May, clocking a growth of 65.9 per cent. Shinsei Mutual Fund, whose AUM grew by 45.6 per cent, was at second position.

SBI Mutual Fund and JP Morgan Mutual Fund, with AUMs of Rs 36,235.76 crore and Rs 3784.98 crore (as on 31 May, 2010) respectively, registered the maximum declines of 9 per cent and 8 per cent respectively in May.

Other fund houses that witnessed considerable increases in their AUMs were Fortis Mutual Fund and Baroda Pioneer Mutual Fund: their AUMs grew by 9.2 per cent and 9.1 per cent respectively in May.

Among the top four fund houses, except UTI MF which saw its AUM fall by (-) 1.1 per cent in May, all the other top asset management companies registered considerable increases in their AUMs. Reliance MF's AUM increased by 6.4 per cent and stood at Rs 1, 18,973.14 crore at the end of May. HDFC MF's AUM grew by 7.6 per cent and stood at Rs 1,01,863.31 crore. The AUMs of Birla Sun Life MF and ICICI Prudential MF too grew substantially by 6.2 per cent and 5.6 per cent respectively in May.

Asset Under Management    Assets (Rs cr)            Apr-10    May-10    Change(%) Fund House    Total    Total     Peerless Mutual Fund   496.26   823.38   65.9 Shinsei Mutual Fund   222.28   323.71   45.6 Axis Mutual Fund   3477.98   4715.89   35.6 Taurus Mutual Fund   2347.23   3056.16   30.2 L&T Mutual Fund   4125.69   5170.69   25.3 Bharti AXA Mutual Fund   595.35   724.17   21.6 Edelweiss Mutual Fund   216.16   261.09   20.8 Kotak Mahindra Mutual Fund   33845.34   40755.07   20.4 Benchmark Mutual Fund   1930.53   2263.15   17.2 Religare Mutual Fund   13829.25   15464.10   11.8 Fortis Mutual Fund   6902.15   7537.44   9.2 Baroda Pioneer Mutual Fund   4362.69   4759.53   9.1 HDFC Mutual Fund   94702.79   101863.31   7.6 Reliance Mutual Fund   111819.33   118973.14   6.4 Birla Sun Life Mutual Fund   69531.84   73855.08   6.2 Canara Robeco Mutual Fund   10050.84   10661.95   6.1 IDFC Mutual Fund   25623.23   27100.20   5.8 ICICI Prudential Mutual Fund   83063.89   87736.91   5.6 Franklin Templeton Mutual Fund   34911.90   36648.68   5.0 JM Financial Mutual Fund   8568.80   8950.43   4.5 Tata Mutual Fund   22051.27   22673.43   2.8 Principal Mutual Fund   7470.15   7647.76   2.4 Quantum Mutual Fund   102.67   103.09   0.4 Deutsche Mutual Fund   10111.61   10102.46   -0.1 DSP BlackRock Mutual Fund   21948.76   21884.95   -0.3 ING Mutual Fund   1707.27   1695.54   -0.7 UTI Mutual Fund   79456.70   78617.15   -1.1 Morgan Stanley Mutual Fund   2305.89   2253.67   -2.3 HSBC Mutual Fund   6005.03   5851.11   -2.6 Sundaram BNP Paribas Mutual Fund   14361.18   13976.11   -2.7 Fidelity Mutual Fund   7795.22   7575.63   -2.8 Mirae Asset Mutual Fund   245.06   236.50   -3.5 Escorts Mutual Fund   205.46   198.23   -3.5 LIC Mutual Fund   40507.21   38962.82   -3.8 Sahara Mutual Fund   804.57   765.23   -4.9 AIG Global Inv Grp Mutual Fund   1093.24   1030.86   -5.7 JPMorgan Mutual Fund   4114.75   3784.98   -8.0 SBI Mutual Fund   39826.35   36235.76   -9.0 Total   770735.92   805239.37   4.5 Source:AMFI