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AUM: Peers challenge UTI

Reliance Mutual is fast catching up with the UTI to emerge as the fund house having the largest assets under management. The former's AUM swelled by 143 per cent in 2006 to Rs 36,928 crore

UTI Mutual Fund might lose the tag of the largest fund house of the country, as its peers are catching up fast. Year 2006 saw the AMC's market share decline to 11.73 per cent by the end of 2006 from 12.68 per cent last year to Rs 38,108.5 crore, with Reliance Mutual Fund tiptoeing on its heels as its assets swelled by a massive 143 per cent to Rs 36,928.5 crore. Not only has the latter breezed past Prudential ICICI to become the second largest fund house of the country, it has come very close to dethroning UTI from the top slot.

With NFO successes like Reliance Equity that mopped up Rs 5,790 crore, Reliance Mutual Fund's market share increased to 11.36 per cent in December 2006 from 7.63 per cent in December 2005. In other words, the fund house has moved swiftly from fifth position in terms assets under management to become the second largest AMC of the country.

Prudential ICICI Mutual Fund (market share of 10.25 per cent), HDFC Mutual Fund (9.22 per cent) and Franklin Templeton Mutual Fund (7.22 per cent) are the other fund houses figuring among the top five.

Of the 30 asset management companies (AMC) in India, as many as 23 saw their assets under management decline in December 2006. The biggest hit was taken by Lotus India Mutual Fund, which regressed by 33.35 per cent. LIC Mutual Fund lost the maximum amount - Rs. 4,871.54 crore over the month.

The situation didn't look so bad when we compared the asset size over the year, with only five AMCs losing money. The biggest laggard amongst them was Sahara Mutual Fund, which saw its assets decline by 59.8 per cent!

Among the gainers, Deutsche Mutual Fund led the pack with its assets growing at 172.4 per cent during 2006. This was primarily on the back of the 19 funds (majority of which were FMPs) that the AMC launched over the year. However, the AMC remains relatively small, ranked 17th in terms of assets under management.


How They Stack Up
     Asset Growth (%)  
AMCs  AUM (Rs Cr)  1-mnth  12-mnth
UTI Mutual Fund 38108.5 -8.44 51.05
Reliance Mutual Fund 36928.84 6.61 143.12
Prudential ICICI Mutual Fund 33304.58 -5.47 51.44
HDFC Mutual Fund 29960.58 1.37 69.67
Franklin Templeton Mutual Fund 23406.15 -1.79 40.53
Birla Sunlife Mutual Fund 17056.16 -2.41 37.1
SBI Mutual Fund 15064.38 -5.49 39.89
DSP Merrill Lynch Mutual Fund 13517 -5.32 56.39
Kotak Mahindra Mutual Fund 12692.5 -11.14 71.56
Standard Chartered Mutual Fund 12634.54 -2.08 52.89
Tata Mutual Fund 12177.17 -2.75 35.33
LIC Mutual Fund 10765.2 -31.15 119.85
Principal Mutual Fund 10591.95 -11.04 51.29
HSBC Mutual Fund 10449.56 1.33 62.08
Benchmark Mutual Fund 7938.48 -11.31 160.98
Sundaram BNP Paribas Mutual Fund 6810.16 -0.71 132.17
Deutsche Mutual Fund 6414.25 4.49 172.4
Fidelity Mutual Fund 5867.21 -0.87 112.83
ABN AMRO Mutual Fund 5490.54 -7.24 127.14
JM Financial Mutual Fund 3728.98 -20.06 -9.72
ING Vysya Mutual Fund 3709.8 -14.65 31.04
Morgan Stanley Mutual Fund 2989.88 -1.21 30.65
DBS Chola Mutual Fund 2081.86 -2.96 34.32
Canbank Mutual Fund 1955.74 -15.15 -9.6
Lotus India Mutual Fund 604.33 -33.35  -
Taurus Mutual Fund 265.32 2.72 35.25
Sahara Mutual Fund 183.33 -9.84 -59.82
Escorts Mutual Fund 139.52 9.26 -5.81
BoB Mutual Fund 123.09 -18.06 -24.22
Quantum Mutual Fund 56.83 3.04  -
Data as on December 31, 2006