Amid concerns over rate hike in the US, slowdown blues in China and domestic currency and stock market volatility, the Indian mutual fund industry continued to witness strong inflows of fund from domestic investors and the average quarterly AUM for the industry crossed Rs 13 lakh crore for the first time.
Data released by the Association of Mutual Fund of India shows that the average industry AUM rose by Rs 86,956 crore over the previous quarter ended June 2015 and stood at Rs 13,21,388 crore for the quarter ended September 2015. This came on the back of continuing inflows into both equity and debt schemes.
Since the NDA government came to power in May 2014, the MF industry AUM has grown one third from Rs 9.9 lakh crore in June 2014 to Rs 13.2 lakh crore in September 2015. Between June 2014 and August 2015, the net inflow into equity schemes have amounted to Rs 1.12 lakh crore.
The top 10 schemes continued to dominate and garnered most of the incremental AUM received by the industry. In aggregate they accounted for additional AUM of Rs 62,100 crore.
UTI Mutual Fund emerged as the biggest gainer in the quarter as its AUM rose by Rs 11,347 crore followed by ICICI Prudential MF and Kotak Mahindra MF that gained Rs 9,104 crore and Rs 8,414 crore respectively.
In first six month of this fiscal, Kotak Mahindra MF has been the biggest gainer in AUM among top 10 players and its AUM grew by 36 per cent from Rs 41,652 crore in March 2015 to Rs 56,750 crore in September 2015. In absolute terms ICICI Prudential MF and Reliance MF gained more.
Among the losers, JP Morgan AMC comes on top as the fund house witnessed a significant decline in its AUM during the quarter as it came under fire following its investment of around Rs 200 crore in debt papers issued by Amtek Auto that have witnessed default.