This week in MFs: HDFC MF regains top spot among 43 fund houses

HDFC Mutual Fund reclaimed its position as the country’s top asset manager after a gap of nearly three years. 

In the last quarter ending September 2018, HDFC Mutual Fund had stood at the second spot behind ICICI MF with quarterly average assets of Rs. 3.06 lakh crore. 

While ICICI Prudential Mutual Fund witnessed net outflows to the tune of Rs. 2,522 crore during the quarter ending December 2018, HDFC MF recorded inflows of Rs 28,604 crore, propelling it to the top position.

Most fund houses saw a decline in their AUM in the quarter ending December 2018. Overall, the industry AUM fell by 3 percent last quarter. The industry AUM had touched an all-time high of Rs 25.20 lakh crore in August. 

However, post-September, macroeconomic concerns and NBFC credit event led to outflows from debt funds. Subsequently, mutual fund AUM for the quarter ending in December fell from the September 2018 quarter level.

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Himadri Buch

Assistant Editor|Moneycontrol.com

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Among the top 10 MFs, only HDFC MF, SBI and Kotak Mahindra MF recorded an increase in their assets while the remaining fund houses saw a decline in their AUM. On gross basis, HDFC MF saw the highest increase in its AUM (Rs 28,604 crore) while DSP MF saw the highest fall (Rs 16,212 crore).

In percentage terms, Shriram MF (87 percent), PPFAS MF (14 percent) and HDFC MF (9 percent) were the fastest-growing fund houses during the quarter, while DHFL Pramerica (53 percent), Indiabulls MF (53 percent) and LIC MF (35 percent) saw the sharpest decline in their assets.

Fund officials expect 2019 to be a better year for the markets than 2018.