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Mutual fund industry AUM witness 8% fall in June quarter.

mutual fund

Amid the volatile market conditions, the mutual fund AUM witnessed a huge fall of eight per cent to nearly Rs 25 lakh crore in the quarter ended June 30 due to the debt funds record massive outflows, while equity funds witness inflows.

Mutual funds registered the decline of eight per cent in April-June quarter 2020 with Rs 24.82 lakh crore compared to Rs 27 lakh crore in the preceding quarter, stated the data of Association of Mutual Funds in India (Amfi).

Head RankMF at Samco Securities, Omkeshwar Singh said, due to the net inflows have reduced across most of the asset and categories in mutual fund schemes the industry saw shrink of 8% in the Mutual fund AUM.

“Besides, lower investment, with economic uncertainty threatening jobs and leading to pay cuts, could be the reason for the decline in the assets base, moreover, fresh inflows were also relatively weak,” Vidya Bala, co-founder of primeinvestor.in, said.

Top five fund houses witnessed a decline in their respective average AUMs which includes SBI MF, HDFC MF, ICICI Prudential MF, Aditya Birla Sunlife MF and Nippon India MF.

SBI Mutual Fund continues to be the largest fund house in the country during the June quarter 2020 with an asset base of Rs 3,64,363 crore. At the second position, HDFC MF has seen a drop in its asset base to Rs 3,56,183 crore during the quarter under review from Rs 3,69,783 crore in March quarter. Third ICICI Prudential MF with an average AUM of Rs 3,46,163 crore in June quarter, Aditya Birla Sunlife MF, the fourth largest fund house, has seen its average AUM decreasing to Rs 2,14,592 crore from Rs 2,47,522 crore and Nippon India MF, at the fifth position, average AUM fell to Rs 1,80,061 crore from Rs 2,04,884 crore.

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