According to Association of Mutual Funds in India (Amfi), the AUM was Rs 5,69,948.71 crore in April which increased to Rs 6,00,525.43 crore in May.
Commenting on this, A Balasubramanium, CIO, Birla Sun Life MF said, The major reason for the growth in the AUM of MF industry is due to the debt funds which have grown through the liquid funds and Fixed Maturity Plan (FMPs).
The top five fund houses have maintained their positions in the pecking order of MF industry. Reliance MF remains at the top in the ladder. Its AUM increased by 2.12% or 2,044.52 crore at Rs 98,430.93 crore.
ICICI Prudential MF ranked second which gained 6.02% or Rs 3,351.49 crore at Rs 59,060.02 crore. The state owned behemoth UTI MF also increased its AUM by 4% or Rs 2,102.28 crore at Rs 54,651.68 crore.
The fourth position holder HDFC MFs AUM jumped 8.38% or Rs 4,336.47 crore at Rs 56,107.29 crore. Birla Sun Life MF gained 4.9% or Rs 1,934 crore at Rs 41,423.42 crore maintaining its fifth position.
The MF industry is of the view that the volatility in the equity market was comparatively less in the month of May which has helped the fund houses to enhance their AUMs.