The domestic mutual fund (MF) industry’s assets under management (AUM) crossed ₹40 trillion for the first time in November. The number rose after the post-Covid-19 market rally and the increase of participation by retail investors, reported Business Standard.
The industry took two years to complete the journey from ₹30 trillion to ₹40 trillion, said the report, adding that previously, ₹10-trillion mark took more than three years to come.
As of November end, the top-five fund houses had 55 percent of the total AUM, with SBI MF being the largest, having a total AUM of ₹7.1 trillion, followed by ICICI Prudential MF at ₹4.9 trillion. HDFC MF, Nippon India MF and Kotak MF are the rest among the top five companies in terms of total AUM, as per the report.
Together, the top five companies make for total AUM of ₹22.3 trillion.
Last month, at ₹15.5 trillion, open-ended active equity schemes made for the biggest share in the total AUM. This was followed by debt funds with ₹12.5 trillion, said the report.