Equity market rebound in April lifts MFs AUM by 7%

Written by Markets Bureau | Mumbai, May 5 | Updated: May 6 2008, 06:35am hrs
The rebound of equity market in the month of April has helped the Mutual Fund (MF) industry to gain 7.33% or Rs 38,744.91 crore in terms of Asset Under Management (AUM) to end at Rs 5.67 lakh crore in the month of April.

According to Association of Mutual Funds in India (Amfi), Reliance Mutual Fund has retained its number one position in the pecking order. The AUM of RMF has jumped 5.99% or Rs 5,448 crore to Rs 96,386.40 crore. A senior official of the fund house said that the AUM has gone up due to the continued expansion of the retail investors base in the last couple of months.

ICICI Prudential Mutual Fund has maintained its second position. The AUM went up by 2.55% or Rs 1,386 crore to Rs 55,708.52 crore.

The AUM of the state owned UTI Mutual Fund jumped 7.33% or Rs 3,566.58 crore to Rs 52,549.40 crore. HDFC Mutual Fund ranked fourth as its AUM jumped 15.63% or Rs 6,997.65 crore to Rs 51,770.81 crore.

Interestingly, Birla Sun Life Mutual Fund continued to hold the fifth position as its AUM went up by 9.98% or Rs 3,583 crore to Rs 39,489.22 crore.

The ranking of the fund house went up from sixth to fifth because it has offered three new schemes to the investors which has mopped up more than Rs 3,000 crore in the last couple of months.