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Home > Business > Business Headline > Report

UTI Mutual regains the top spot

BS Reporter in Mumbai | September 07, 2006 11:45 IST

UTI Mutual Fund has reclaimed its number one slot among mutual funds in the country in terms of total assets under management at the end of August, pushing ICICI Prudential Mutual Fund to the second spot.

The AUM of UTI Mutual Fund at the end of August rose by Rs 4,069.44 crore (Rs 40.69 billion) to Rs 35,027.49 crore (Rs 350.27 billion) compared with Rs 30,958.05 crore (Rs 309.58 billion) in July-end.

The AUM of ICICI Prudential for August was Rs 34,118.87 crore (Rs 341.18 billion), which is lower by Rs 908.62 crore (Rs 9.08 billion) to UTI MF, as per the data compiled by the Association of Mutual Funds of India.

ICICI-Prudential had overtaken UTI Mutual Fund in May and continued to remain the top player for the next couple of months.

ICICI-Prudential's AUM rose by Rs 2,687.35 crore (Rs 26.87 billion) in August from Rs 31,431.52 crore (Rs 314.31 billion) in July.

The third spot is occupied by Reliance Mutual Fund with an AUM of Rs 28,753.79 crore (Rs 287.53 billion), which saw its total assets grew by Rs 2,534.49 crore (Rs 25.34 billion) in August.

HDFC Mutual Fund was in the fourth spot with an AUM of Rs 25,891.63 crore (Rs 258.91 billion), followed by Franklin Templeton at Rs 24,198.24 crore (Rs 241.98 billion).

The biggest loser in August was HSBC Mutual Fund. During the month, its AUM fell by Rs 528.05 crore (Rs 5.28 billion) from Rs 11,212.43 crore (Rs 112.12 billion) in July to Rs 10,684.38 crore (Rs 106.84 billion) in August-end.

The consolidated AUM of all the mutual funds fell by Rs 7,961.26 crore (Rs 79.61 billion) in August. The total AUM of mutual funds stood at Rs 2,79,305.64 crore (Rs 2793.05 billion) in August-end, compared with Rs 28,726.90 crore (Rs 287.26 billion) in July.

This may be due to the non-availability of the AUM of Birla-Sun Life Mutual Fund in August.

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