Mutual Funds reported strong growth in average AUM in Jan-Mar Quarter
At the end of March 2021, the domestic mutual funds have reported growth in assets under management. As of the reports, the average AUM for Q4 raised up to 19% to Rs. 32.10 trillion. It had published Rs. 27.03 trillion in the same month a year ago.
In March 2020, the equity portions average AUM has taken as a hint due to the sell-off caused by the pandemic. However, the growth remains an impressive 14% even if one compares the mediocre assets under management at the end of January 2020. Before the sell-off stood at Rs. 28.20 trillion.
According to the source, the SBI mutual fund has managed to stick to its number one place. In March 2020, the AUM of SBI MF stood at Rs. 5.04 trillion. On a year-on-year basis, the AUM raised by 35%. Besides, the MF has expanded its role with HDFC MF. At that time, SBI Mutual Fund AUM remains at 20% more than HDFC MF.
In Q4 YF20, Axis Mutual Fund has reported the highest increase in average AUM. It reported an AUM of 42% to Rs. 1.96 trillion.
In the last year, SBI Mutual Fund said that they took some steps to expand their business. However, the progress helped them to bring success. The sharp growth in assets bodes well for the fund house as parent SBI remains planning to take the company public in the near future.
On the other hand, HDFC MF has placed in the second position with an Assets Under Management of Rs. 4.15 trillion. Further, ICICI Prudential MF in third place with Rs. 4.05 trillion.