Categories: Business

MF industry AUM fall 8 percent in June Quarter

Photo: GOOGLE

Mf AUM down 8 percent in Q1

new Delhi. Assets under management of the mutual fund industry declined eight per cent to Rs 25 lakh crore for the quarter ended June 30. AUM has declined mainly due to withdrawals from the equity and debt categories. According to data from the Association of Mutual Funds in India (Amfi), the average AUM (AAUM) of the industry comprising 45 companies declined by eight percent to Rs 24.82 lakh crore in the April-June quarter from Rs 27 lakh crore in the previous quarter. In the same quarter of the previous financial year, AUM was Rs 25.5 lakh crore.

Onkeshwar Singh, rank MF head of SAMCO Securities, said the industry's AUM declined by eight percent on a quarter-on-quarter basis. The main reason for this is that the flow of net investment in most of the assets and categories of mutual fund schemes has declined. He said the Nifty climbed 24 percent in the June quarter, but despite this, AUM of mutual fund companies declined due to withdrawal pressure in the debt and equity segment. Withdrawal from debt schemes also increased with the Franklin Templeton issue.

Vidya Bala, co-founder of PrimeInvestor.in, said that apart from decreasing investment, uncertainty on the economic front, crisis on jobs and salary cuts also reduced the assets of the mutual fund industry. The top five mutual fund companies SBI MF, HDFC MF, ICICI Prudential MF, Aditya Birla Sunlife MF and Nippon India MF have all seen average AUMs.

Asset under management is the total market value of all investments being managed by a company on behalf of its customers.

This post was published on July 3, 2020 8:57 pm

Content Team

Recent Posts

Mark Zuckerberg's Fortune Surpasses 100 Billion Dollar Mark Zuckerberg's wealth crosses $ 100 billion for the first time, Mukesh Ambani becomes world's fourth richest person

Photo: BUSINESS INSIDER INDIA Mark Zuckerberg’s Fortune Surpasses 100 Billion Dollar new Delhi. Facebook founder Mark Zuckerberg's net worth exceeded…

Made in India Kia Sonet to be launched in India next month, to get rid of clutch pedals

Photo: KIA MOTORS INDIA Kia Motors unveils compact SUV Sonet; plans to launch next month new Delhi. South Korea's leading…

Facebook has built 600 houses to overcome the housing crisis, will be made available to the poor

Photo: FACEBOOK Facebook fund backs nearly 600 affordable homes San Francisco. US-based technology technology company Facebook has built about 600…