Mutual Fund assets jump Rs29,400 crore to new record in November
04 Dec 2006
Helped by the strong rally in stock markets, the mutual fund industry has seen total assets under management rise to a new record in November. Total assets — excluding fund of funds — managed by the industry increased to Rs3,39,233 crore as at the end of the month from Rs3,09,830 crore as of end October 2006. The industry had Rs2,04,032 crore in assets under management as of November 2005.
UTI Mutual remained the biggest fund manager and extended its lead over second placed Prudential ICICI. Total assets of UTI went up Rs3,833 crore during the month to its highest ever. UTI had added more than Rs3,000 crore to assets under management during the previous month also.
Prudential ICICI retained the second spot with an increase of Rs2,568 crore in assets for the month, after adding close to Rs2,500 crore during the previous month. Reliance MF gained Rs3,065 crore to its assets and narrowed the gap with Prudential ICICI even further.
The best performer among all find houses was LIC MF, which gained Rs4,022 crore during the month. Other major gainers were DSP Merrill Lynch, HDFC MF and Kotak Mahindra.
| Fund houses | Nov 2006 | Nov 2005 | Oct 2006 |
| UTI MF | 41,623 | 25,495 | 37,790 |
| Prudential ICICI | 35,232 | 21,023 | 32,664 |
| Reliance MF | 34,637 | 14,401 | 31,572 |
| HDFC MF | 29,555 | 18,088 | 27,553 |
| Franklin Templeton | 23,833 | 16,687 | 23,920 |
| Birla Sun Life | 17,475 | 12,794 | 16,822 |
| LIC MF | 16,481 | 5,202 | 12,459 |
| SBI MF | 15,961 | 10,870 | 15,496 |
| Standard Chartered | 12,894 | 10,587 | 12,542 |
| DSP Merrill Lynch | 14,277 | 7,840 | 11,718 |
| Kotak Mahindra | 13,542 | 7,217 | 10,938 |
| Tata MF | 12,522 | 10,444 | 12,474 |
| Principal | 11,887 | 7,056 | 10,051 |
| HSBC | 10,312 | 6,976 | 9,691 |
