Mutual Fund industry's AUM up 4.5 per cent in May2010

The cumulative asset under management (AUM) of the mutual fund industry grew by 4.5 per cent in May as compared to the previous month. This translates into an absolute growth of Rs 34,503.46 crore during the period. According to data provided by the Association of Mutual Funds of India (Amfi), the total AUM of the industry stood at Rs 8,05,239.37 crore at the end of May.

Among the 38 fund houses whose data has been made available, 23 fund houses registered a growth in their AUMs. Of these, 10 fund houses witnessed double-digit growth in their AUMs compared to the previous month.

New entrant Peerless Mutual Fund registered the highest percentage growth in AUM in May, clocking a growth of 65.9 per cent. Shinsei Mutual Fund, whose AUM grew by 45.6 per cent, was at second position.

SBI Mutual Fund and JP Morgan Mutual Fund, with AUMs of Rs 36,235.76 crore and Rs 3784.98 crore (as on 31 May, 2010) respectively, registered the maximum declines of 9 per cent and 8 per cent respectively in May.

Other fund houses that witnessed considerable increases in their AUMs were Fortis Mutual Fund and Baroda Pioneer Mutual Fund: their AUMs grew by 9.2 per cent and 9.1 per cent respectively in May.

Among the top four fund houses, except UTI MF which saw its AUM fall by (-) 1.1 per cent in May, all the other top asset management companies registered considerable increases in their AUMs. Reliance MF's AUM increased by 6.4 per cent and stood at Rs 1, 18,973.14 crore at the end of May. HDFC MF's AUM grew by 7.6 per cent and stood at Rs 1,01,863.31 crore. The AUMs of Birla Sun Life MF and ICICI Prudential MF too grew substantially by 6.2 per cent and 5.6 per cent respectively in May.