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UTI MF Maintains Top Slot

While Prudential ICICI Mutual Fund won the neck-to-neck fight with the HDFC Mutual Fund to occupy the third spot in terms of AUM, UTI MF continues to maintain its leading position

Prudential ICICI Mutual Fund won the neck-to-neck fight with the HDFC Mutual Fund to occupy the third spot in terms of asset under management of AMCs as on October 31, 2004. Since July 2004, the two AMCs have been replacing each other every month for the third place.

As usual UTI Mutual Fund, with assets worth Rs 2,0079.27 crore, continue to occupy the top position, followed by Templeton India Mutual Fund at Rs 1,6586.18 crore. Reliance Capital Mutual Fund is at fifth position with Rs 1,0495.11 crore, even as the AMC was the only one among the top five AMCs to register a gain in the AUM in the month ended October 31, 2004--the AMC added 4.78 per cent or Rs 479.23 crore.

Sahara Mutual Fund (Rs 299.77 crore), Taurus Mutual Fund (Rs 146.09 crore), Benchmark Mutual Fund (Rs 114.78 crore), Escorts Mutual Fund (Rs 113.86 crore) and GIC Mutual Fund (Rs 112.94 crore) continue to occupy the bottom five positions with regards to the AUM.

High on Equity

Here also, UTI Mutual Fund takes the lead. The AMC has Rs 6,709.38 crore or 33 per cent of its assets in equities. Templeton (Rs 4,437 crore), HDFC (Rs 2,703 crore) and Reliance (Rs 1,996 crore) follow with 26, 19.63 and 19 per cent of assets under management invested in equities. Overall, all the AMCs together have equity assets worth Rs 27,890 crore as on October 31, 2004.

The Bond

Templeton dominates here. The fund house has bond assets worth Rs 3,052 crore or 18.40 per cent of the AUM. HDFC Mutual Fund follows closely with assets worth Rs 2,937.23 crore (21 per cent of its total assets). Prudential (Rs 2,302 crore), UTI (Rs 2,137 crore) and Birla Sunlife (Rs 1,965 crore) are also among the top AMCs with 16.72, 10.64 and 21.29 per cent assets, respectively, invested in the bond markets.

The Hybrids

Of its assets worth Rs 20,079 crore as on October 31, 2004, as much as 38 per cent is invested in hybrid funds. Clearly, the AMC leads here as well. HDFC is the next with 10.39 per cent of its assets invested in hybrid funds.

Too Liquid?

Liquid funds account for 57.58 per cent of the total assets managed by the Indian mutual fund industry. Together they manage Rs 84,320 crore. Prudential ICICI leads here--the AMC has 70 per cent of its assets invested in liquid funds as on October 31, 2004. Templeton is next with Rs 8,867 crore in liquid funds, followed by Standard Chartered Mutual Fund (Rs 8,378 crore), Reliance Capital (Rs 7,701 crore) and HDFC Mutual Fund (Rs 6,697 crore).


Top-Five AMCs
AMC  AUM (Rs cr)  Equity*  Debt*  Hybrid*  Liquid*
UTI MF  20,079  33.41 10.64 38.02 17.92
Templeton   16,586  26.76 18.40 1.38 53.46
Pru ICICI MF  13,772  10.43 16.72 2.51 70.33
HDFC MF  13,770  19.64 21.33 10.39 48.64
Reliance Capital  10,495  19.02 7.60 - 73.38
All AMCs  146,431  19.05 15.82 7.54 57.58
Data as on October 31, 2004
*in per cent