ICICI MF regains top spot from Reliance MF
By Our Banking Bureau | 05 May 2006
The reign of Reliance Mutual Fund as the largest private sector fund house in the country has lasted just one month. Prudential ICICI has reclaimed the position, which it held for many years, as of end April 2006.
ICICI Prudential had a total of Rs27,503 crore in assets under management, excluding fund of funds, as of April end against Rs26,420 crore for Reliance Mutual Fund. While ICICI increased its total fund size by Rs4,001 crore during April, Reliance could grow by only Rs1,750 crore.
Reliance MF had become the country's top fund in the private sector in March after its Reliance Equity Fund, the single largest mutual fund scheme, collected a record Rs5,700 crore.
Reliance Equity Fund remains the single largest scheme as of April end, with assets totalling Rs6,060 crore.
UTI MF remains the largest fund house in the country with Rs30,109 crore in assets under management as of April 2006 end. HDFC MF and Franklin Templeton complete the top five
| Fund | April 2006 | April 2005 |
| Assets under management in Rs crore | ||
| UTI MF | 30,109 | 20,478 |
| Prudential ICICI | 27,503 | 16,143 |
| Reliance MF | 26,420 | 9,601 |
| HDFC MF | 22,539 | 15,172 |
| Franklin Templeton | 19,639 | 15,733 |
| Birla Sun Life | 17,390 | 10,504 |
| SBI MF | 14,506 | 6,720 |
| DSP Merrill Lynch | 13,201 | 6,234 |
| Tata MF | 10,652 | 7,875 |
| Standard Chartered | 10,985 | 7,108 |
| HSBC | 10,079 | 7,009 |
| Standard Chartered | 9,322 | 8,610 |
Total assets under management, excluding fund of funds, for the whole mutual fund industry crossed Rs250,000 crore for the first time during April 2006 and stood at Rs257,529 crore. AUM for the industry was at Rs157,998 crore as of end April 2005.
Most of the nearly Rs24,000 crore in assets added by the industry during April 2006 came from inflows into fixed income schemes. Fresh flows into equity schemes slowed down during the month.
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