Anil Dhirubhai Ambani group firm Reliance Mutual Fund retains its position as the country's largest fund house having assets of over Rs 48,000 crore (Rs 480 billion), even as the collective wealth of all the fund houses soars past Rs 3.50 lakh crore (Rs 3.5 trillion).

Reliance MF's asset under management swelled to Rs 48,828 crore (Rs 488.28 billion) in April gaining Rs 2,521 crore (Rs 25.21 billion) over Rs 46,307 crore (Rs 463.07 billion) last month, according to latest figures released by the Association of Mutual Funds in India.

Combined AUM of 30 fund houses rose over Rs 24,017 crore (Rs 240.17 billion) during the month to report a total of Rs 3,50,441 crore (Rs 3,504.41 billion) in April this year as against Rs 3,26,425 crore (Rs 3,264.25 billion) in March.

Besides, ICICI Prudential MF posted a higher growth of over 11 per cent in its AUMs to Rs 42,268 crore (Rs 422.68 billion) maintaining a second position among fund houses for the month.

In terms of average AUMs in April as well, Reliance MF remained ahead of its peers at Rs 49,861.90 crore (Rs 498.61 billion) while ICICI Pru stood at Rs 42,444.53 crore (Rs 424.44 billion).

Public sector fund house UTI MF was at the third slot with AUMs of Rs 35,517 crore (Rs 355.17 billion), which fell about Rs 66 crore (Rs 660 million) from last month.

HDFC MF and Franklin Templeton Investments, the other two funds among the top five, gained over 11 per cent in their respective AUMs over the last month. HDFC MF's AUMs stood at Rs 31,485 crore (Rs 314.85 billion) followed by Franklin Templeton at Rs 24,510 crore (Rs 245.1 billion) in April.