HomeMarketsUpdated – July 13, 2024 at 08:44 PM.| Mumbai, July 13The AUM of top-15 mutual funds accounted for 89 per cent of total average industry AUM of ₹58.96-lakh crore in June quarter The concentration of mutual fund assets with the top 15 fund houses has fallen with recent entrants catching up fast, riding on the recent market rally and record collections through new fund offers.The assets under management of the top-15 mutual funds accounted for 89 per cent or ₹52.35-lakh crore of total average industry AUM of ₹58.96-lakh crore in the June quarter. In the same period last year, the top-15 fund houses accounted for ₹39.27-lakh crore or 91 per cent of the total average AUM of ₹43.09-lakh crore, according to data sourced from the Association of Mutual Funds in India.The top-15 fund houses have registered an AUM growth of 54 per cent to 18 per cent in last one year. Nippon India Mutual Fund recorded the highest growth of 54 per cent in AUM at ₹4.84-lakh crore in the June quarter against ₹3.14-lakh crore logged in the same period last year.Interestingly, the Nippon India MF has achieved the growth without launching any new fund offer like others in the quarter under review.Market leaders SBI MF and ICICI MF registered a year-on-year growth of 30 per cent and 41 per cent in the June quarter to ₹9.88-lakh crore and ₹7.47-lakh crore, respectively. Blowing Tailwind Among beyond top-15 fund houses, Canara Robecco MF, Invesco MF, White Oak Capital MF, Mahindra Manu Life MF and JM Financials registered a strong growth in asset year-on-year in the June quarter. Overall, the asset under management of the industry has jumped 25 per cent in June quarter to ₹58.96-lakh crore against ₹43.09-lakh crore in the same period last year, on the back of strong inflows. The industry mop-up through NFO trebled to ₹26,899 crore . Equity NFOs alone has attracted an investment of ₹25,143 crore in June quarter against ₹4,824 crore last year.The benchmark Sensex has rallied by 22 per cent or 14,313 points in the last one year to 79,032 points against 64,719 points recorded in June 2023.Jatin Mehra, CEO, Smart Invest Advisors, said after a pleasent experience in last few year, people have gained confidence in equity investment through mutual funds, especially through monthly SIP and with the high equity valuation it has become a problem of plenty when it comes to deploying these funds.However, he said it has to be seen how these new investors react in a bearish market as they have never experienced it before.
Concentration of MF assets eases as smaller fund houses see good flows
