This included the AUM of Fund of Funds managed by the AMCs (asset management companies) in the domestic and overseas markets, as per the latest data released by mutual fund industry body AMFI (Association of Mutual Funds in India).
Excluding the domestic Fund of Funds, the total average AUM of 44 AMCs stood at R7,47,229.5 crore in the second quarter of 2012-13, up from R6,92,788.74 crore in the previous quarter. Most of the fund houses, including the top-ranked HDFC, Reliance, ICICI Prudential and UTI MFs saw their AUMs rise during the last quarter.
However, BNP Paribas, Canara Robecco, Edelweiss, Fidelity, Goldman Sachs, JM Financial, Pramerica, Sahara, Tata and Taurus Mutual Funds witnessed a decline in their AUMs from the levels seen in the April-June quarter. Of the 44 fund houses, 32 saw their AUMs rise during the period, which market experts largely attributed to revival in stock market sentiments, which helped them attract fresh investment and also improve their portfolio values.