Top MFs log 8-16% growth in AUM so far in 2021

MUMBAI: The Indian mutual fund space has witnessed an expansion amid the pandemic, with top fund houses having registered growth in the range of 8-16 per cent this year in their assets under management (AUM). The AUM of SBI Mutual Fund, at the end of July, was over Rs 5.53 lakh crore, or 15.5 per cent higher than over Rs 4.79 lakh crore in December 2020.

Data from primemf-database.com showed that the AUMs of the other major players HDFC Mutual Fund, ICICI Prudential Mutual Fund, Kotak Mahindra Mutual Fund, and Nippon India Mutual Fund stood at around Rs 4,37,093 crore, Rs 4,34,180 crore, Rs 2,58,416 crore and Rs 2,57,544 crore, respectively, higher by 8.5 per cent, 9.4 per cent, 13.4 per cent, and 16.3 per cent from their respective AUMs in December 2020.

Backed by a low base, smaller fund houses have also witnessed a higher growth rate in their AUMs during the period.

In tandem with the rise in the equity market, small players made giant strides during the year. (IANS)

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