Investing Trends

The sum assets of the common monetary fund industry crossed the Rs 5.5 trillion grade last calendar month as leading participants such as as Reliance Mutual Fund, ICICI Prudential, UTI Mutual Fund and HDFC Mutual Fund maintained their several places at the top.

The assets under direction (AUM) of North American Indian common monetary monetary fund industry grew by a humongous Rs 79,750.44 crore, or 16.71 per cent, in October, courtesy the rise stock marketplace and new launches by respective fund houses during the period.

The AUM stood at Rs 5,56,729.69 crore in October, up from Rs 4,76,979.25 crore in the former month.

A cardinal entrant into the top five listing is Birla Sun Life Mutual Fund, promoted by the Aditya Birla Group, which roped in Ajay Srinivasan from ICICI Prudential a couple of calendar months back to head its fiscal services business.

The assets of Birla Sun Life medium frequency rose by nearly 21 per cent last calendar month to Rs 33,706.82 crore, overtaking John Hope Franklin Templeton (Rs 32,041.84 crore) for the 5th position.

Anil Ambani-controlled Reliance Mutual Fund maintained the figure 1 place with assets of Rs 79,973.83 crore, up 13.53 per cent from September.

ICICI Prudential retained the figure two slot, seeing its AUM in October rising by a modest 11.59 per cent to Rs 56,212.84 crore.

UTI Mutual Fund, owned equally by Life Insurance Corporation and three state-owned banks, kept its 3rd slot. It's assets grew by 15 per cent to Rs 51,752.84 crore, which was faster than the growing registered by Reliance medium frequency and ICICI Prudential.

HDFC Mutual Fund maintained the 4th place with assets of Rs 47,745.09 crore in October, up 15.51 per cent from the former month.

SBI Mutual Fund saw a 12 per cent addition in its AUM to Rs 26,593.57 crore, from the former month's Rs 23,738.68 crore.

Several monetary monetary fund houses including Tata Mutual Fund and Birla Sun Life also raised finances through new fund offerings last month.

The benchmark Sensex rose by nearly 15 per cent in October, propelling the value of common finances assets.