Despite the fall, Reliance MF continued to be the most valued fund house in the country with Assets Under Management (AUM) of Rs 90,937.94 crore (Rs 909.37 billion) at the end of March, according to the latest figures available on the Association of Mutual Funds in India website.
Its AUMs dropped by Rs 2,593 crore (Rs 25.93 billion) in the past month from Rs 93,531.67 crore (Rs 935.31 billion) in February.
ICICI Prudential, country's second largest fund house, saw its assets dwindle by almost Rs 5,000 crore (Rs 50 billion) in the past month and its assets under management stood at Rs 54,321.87 crore (Rs 543.21 billion) at the end of March.
State-run fund UTI MF witnessed a fall of Rs 3,481 crore (Rs 34.81 billion) in its AUM of Rs 48,982 crore (Rs 489.82 billion) at the end of March as compared to Rs 52,464.71 crore (Rs 524.64 billion) in the previous month.
Overall, the combined AUM of all the fund houses in the country stood at Rs 5,06,692.62 crore (Rs 5066.92 billion), excluding those of Escorts Mutual Fund, JM Financial Mutual Fund and Lotus India Mutual Fund.
At the end of February, the combined AUMs stood at Rs 5,65,100.04 crore (Rs 5.65 trillion), which excluded figures of Mirae Asset MF.
Among the top five mutual funds, HDFC MF also saw a Rs 1,518.81 crore (Rs 15.18 billion) drop in its AUM, which was at Rs 44,773.16 crore (Rs 447.73 billion) in March, while Franklin Templeton assets fell over Rs 3,000 crore (Rs 30 billion). In the equity markets, mutual funds have been net sellers to the tune of Rs 1,847 crore (Rs 18.47 billion) in March.
