India’s mutual fund asset base, having 44 fund houses, increased from Rs 24.5 lakh crore in March quarter 2019 and Rs 26.77 lakh crore in December quarter last year to over Rs 27 lakh crore in the March quarter 2020.
SBI Mutual Fund has become India’s top asset management company during the January-March quarter of 2020 with a total asset base of over Rs 3.73 lakh crore. The data from the Association of Mutual Funds in India (AMFI) showed SBI Mutual Fund jumping from the third spot with an asset base of Rs 3.52 lakh crore in October-December 2019 quarter, PTI reported. Overall, India’s mutual fund asset base, having 44 fund houses, increased from Rs 24.5 lakh crore in March quarter 2019 and Rs 26.77 lakh crore in December quarter last year to over Rs 27 lakh crore in the March quarter 2020. The marginal rise in the asset base comes amid high volatility in stock markets. Here are India’s top five asset managers by their asset sizes till March quarter-end.
- SBI Mutual Fund : Rs 3,73,537 crore in March 2020 quarter up by 5.92 per cent from Rs 3,52,632 crore in December 2019 quarter
- HDFC Mutual Fund : Rs 3,69,783 crore down by 3.3 per cent from Rs 3,82,517 crore
- ICICI Prudential Mutual Fund : Rs 3,50,743.5 crore down by 2.9 per cent from Rs 3,61,506.57 crore
- Aditya Birla Sunlife Mutual Fund : Rs 2,47,522 crore down by 0.96 per cent from Rs 2,49,926 crore
- Nippon India Mutual Fund : Rs 2,04,884 crore up marginally by 0.25 per cent from 2,04,371 crore
“Over the years, we have built robust internal systems and processes, we have the largest investment team in the industry and believe in bottom-up investing,” PTI reported quoting Ashwani Bhatia MD and CEO, SBI MF.
Meanwhile, the Indian market cap-to-GDP ratio for FY20 has been hit hard, as per a Motilal Oswal report, due to the poor performance of equity markets. The benchmark index NSE Nifty 50 tanked 23 per cent in March. The market cap-to-GDP ratio for the recently concluded FY20 is likely to be at 54 per cent, down from 74 per cent in January – the worst fall since FY09.