Published on Thu, Sep 07, 2006 at 12:51 | Source : Moneycontrol.com
Updated at Thu, Sep 07, 2006 at 13:02
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UTI Mutual Fund regains top position
UTI Mutual Fund has regained its number one position among mutual funds in the country in terms of total assets under management (AUM) at the end of August, replacing Pru ICICI MF to the second spot.
UTI Mutual Fund has regained its number one position among mutual funds in the country in terms of total assets under management (AUM) at the end of August, pushing Prudential ICICI Mutual Fund to the second spot.
The AUM of UTI Mutual Fund at the end of August rose by Rs 4,069 crore or 13.2% to Rs 35,028 crore compared with Rs 30,958 crore in July-end. (Check out - AMC Asset Monitor)
The AUM of Prudential ICICI MF for August was Rs 34,119 crore up 8.6% from Rs 31,432 crore in July, as per the data compiled by the Association of Mutual Funds of India, Amfi.
Prudential ICICI had overtaken UTI Mutual Fund in May and continued to remain the top player for the next couple of months.
The third spot is occupied by Reliance Mutual Fund with an AUM of Rs 28,753 crore, which saw its total assets grew by Rs 2,534 crore or 9.7% in August.
HDFC Mutual Fund was in the fourth spot with an AUM of Rs 25,892 crore, followed by Franklin Templeton at Rs 24,198 crore.
The biggest loser in August was HSBC Mutual Fund. During the month, its AUM fell by Rs 528 crore from Rs 11,212 crore in July to Rs 10,684 crore in August-end. Kotak, Chola, and BOB MF were among the other losers.
The consolidated AUM of all the mutual funds grew by 17,779 crore or 6% in August. The total AUM of mutual funds stood at Rs 2,96,404 crore in August-end, compared with Rs 278,625 crore in July.
