In an impressive display of resilience and investor confidence, the Mutual Fund industry experienced a remarkable surge, with the Average Assets Under Management (AAUM) increasing by 34% year-on-year to reach ₹54.13 Lakh Crores in the January-March, 2024 quarter.
This significant growth not only underscores the industry's robustness but also marks a substantial 10% increase over the previous quarter's Average AUM of ₹49.22 Lakh Crores, highlighting a standout financial period that reaffirms the industry's stronghold and the growing trust of its investors.
SBI Mutual Fund solidifies its leadership, holding the top position for a remarkable 17th consecutive quarter.
The mutual fund landscape shows exceptional stability with the top eight and top three firms retaining their ranks for 11 straight quarters. Additionally, the ranking of the top 10 Asset Management Companies (AMCs) remains unchanged, reflecting a period of steady dominance in the industry.
In the recent quarter, ICICI Prudential Mutual Fund emerged as the top gainer in terms of absolute growth in Average AUM, followed by SBI, HDFC and Nippon India Mutual Fund, showcasing the competitive dynamics of the industry.
The top 10 Asset Management Companies (AMCs) played a pivotal role in the Mutual Fund industry's growth, contributing a significant 72% to the increase in Average AUM for the last quarter.
Over the year, WhiteOak Capital Mutual Fund, quant Mutual Fund, Samco Mutual Fund, Navi Mutual Fund and JM Financial Mutual Fund emerged as the top gainers in terms of yearly percentage growth in Average AUM.
In the March quarter, Zerodha Mutual Fund, Helios Mutual Fund, quant Mutual Fund, Samco Mutual Fund and Bajaj Finserv Mutual Fund demonstrated notable performance in terms of percentage growth in Average AUM, compared to the previous quarter.
For a comprehensive understanding and more insights, please go through our detailed report.
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