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Average assets under management of the 37 fund houses fell 5% in March; JPMorgan Mutual Fund plummeted 24% while Peerless and Edelweiss jumped 150% and 30% respectively
According to data available with the Association of Mutual Funds in India (AMFI), out of the 37 fund houses, the average assets under management (AAUM) of 14 fund houses witnessed an average growth of 18% while 23 fund houses saw their AAUM slipping by an average of 9% compared to February 2010.
Among the 37 fund houses, JPMorgan Mutual Fund (Rs3,541.36 crore), AIG Global Investment Group Mutual Fund (Rs1,137.81 crore) and Shinsei Mutual Fund (Rs367.41 crore) recorded the highest fall of 24%, 21% and 20% respectively. Data for Baroda Pioneer Mutual Fund, Goldman Sachs Mutual Fund and AEGON Mutual Fund was not available.
Peerless Mutual Fund gained the maximum AAUM of 150% at Rs302.60 crore compared to last month—followed by Edelweiss Mutual Fund (Rs149.28 crore) and DSP BlackRock Mutual Fund (Rs21,490.78 crore) which gained 30% and 8% respectively.
Fidelity Mutual Fund, Franklin Templeton Mutual Fund, and Escorts Mutual Fund remained flat. While the AAUM in February 2010 grew by 3% at Rs7,81,711.50 crore, March has disappointed the mutual fund industry with a 5% fall.
The total AAUM has recorded a fall of 5% at Rs7,43,950 crore in the month of March 2010 compared to Rs7,81,711.50 last month while the BSE Sensex gained 7%, closing at 17,527.77 points in March compared to 16,429.55 in February 2010.
Among the top fund houses, HDFC lost 7% (Rs88,779 crore), UTI gained 1%
(Rs80,217 crore), SBI (Rs37,417 crore) gained 4% and Reliance Mutual Fund (Rs1,10,412.70 crore) lost 5% AAUM in March compared to last month.