HDFC MF overtakes ICICI Prudential MF to become largest AMC

By: |
Published: January 3, 2019 3:00:28 PM

HDFC Mutual Fund has surpassed ICICI Prudential MF to regain top position after two years as the largest asset management company (AMC).

In the October-December quarter, AUM under HDFC MF have risen by more than 9 per cent when compared to the previous quarter.

HDFC Mutual Fund has surpassed ICICI Prudential MF to regain top position after two years as the largest asset management company (AMC). While HDFC MF looks after assets worth Rs 3.35 lakh crore, ICICI Prudential MF manages Rs 3.08 lakh crore, according to AMFI data.

In the October-December quarter, AUM under HDFC MF have risen by more than 9 per cent when compared to the previous quarter. In the same period, AUM plunged 0.6 per cent for ICICI Prudential MF.

Also read: Share market LIVE updates: Sensex extends losses, Nifty near 10,700; ONGC, M&M shares down up to 3%

With AUM of Rs 2.64 lakh crore, SBI MF stands at the third slot. Aditya Birla and Reliance MF follow next with Rs 2.42 lakh crore and Rs 2.36 lakh crore, respectively.

At the end of December, total assets under management in the sector amount to Rs 23.61 lakh. The fund houses expect the mutual fund industry to observe strong growth in this year as the sector is yet to tap its full potential. Besides, several measures taken by the market regulator SEBI will help in increasing the penetration of mutual funds.

A mutual fund is a professionally managed investment fund that pools money from many investors to purchase securities. These investors may be retail or institutional in nature.

In December last year, SEBI allowed mutual funds to create segregated portfolios with respect to debt and money market instruments, while ensuring fair treatment to all the unit holders. Creation of segregated portfolios is a mechanism to separate illiquid and hard-to-value assets from other more liquid assets in a portfolio.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Next Stories
1Wall Street ekes out gain, Apple cuts revenue forecast after the bell
2Petrol, diesel prices today: Fuel prices remain unchanged for second day; check latest rates
3China gains cushion Asian shares after Apple jolt; flash crash hits currencies