SBI, ICICI Prudential, and HDFC Lead in AMFI Rankings, DSP Breaks into Top 10 AMCs
DSP Mutual Fund makes a significant leap into the top 10, surpassing Bandhan Mutual Fund.
The latest Asset Management Fund India (AMFI) data on Average Assets Under Management (AUM) places SBI Mutual Fund, ICICI Prudential Mutual Fund, and HDFC Mutual Fund at the forefront, maintaining their top three positions.
As of September 2023, SBI Mutual Fund stands at the apex with an impressive AUM of Rs 8.27 lakh crore. Following closely are ICICI Prudential Mutual Fund and HDFC Mutual Fund, overseeing assets of Rs 5.82 lakh crore and Rs 5.25 lakh crore respectively.
The subsequent ranks mirror the standings from the June quarter of 2023. Nippon India Mutual Fund, Kotak Mutual Fund, and Aditya Birla Sun Life Mutual Fund hold the fourth, fifth, and sixth positions with AUMs of Rs 3.51 lakh crore, Rs 3.34 lakh crore, and Rs 3.11 lakh crore, respectively.
There’s a slight shuffle in the next tier, with UTI Mutual Fund advancing to seventh place and Axis Mutual Fund dropping to eighth. Their respective AUMs are Rs 2.67 lakh crore and Rs 2.60 lakh crore.
Mirae Asset Mutual Fund continues to secure the ninth position with an AUM of Rs 1.39 lakh crore.
The top ten list sees a notable change with DSP Mutual Fund’s entry, marking its AUM at Rs 1.30 lakh crore, thereby outperforming Bandhan Mutual Fund (formerly IDFC Mutual Fund).
In terms of absolute growth, the leading trio – SBI Mutual Fund, ICICI Prudential Mutual Fund, and HDFC Mutual Fund – observed the most substantial increase, collectively escalating their assets by Rs 1.54 lakh crore.
However, when considering percentage growth, Samco Mutual Fund leads the pack with a surge of over 50%, thanks to its relatively smaller base. WhiteOak Capital Mutual Fund and Quant Mutual Fund also report remarkable growth of over 30%.
The quarterly growth of the mutual funds, detailed in crore, is as follows:
- SBI: Grew by 8%, reaching an AUM of Rs 8,26,934 crore.
- ICICI Prudential: Saw a 9% increase, with an AUM of Rs 5,81,566 crore.
- HDFC: Recorded an 8% growth, totalling Rs 5,24,740 crore in assets.
here is the full table detailing the quarterly growth of mutual funds as per the provided content:
| Sep Qtr 23 Ranking | Mutual Fund | Avg AUM (Sep Qtr 23) | Avg AUM (Jun Qtr 23) | Change | % Change |
|---|---|---|---|---|---|
| 1 | SBI | 8,26,934 | 7,62,348 | 64,586 | 8% |
| 2 | ICICI Prudential | 5,81,566 | 5,31,327 | 50,239 | 9% |
| 3 | HDFC | 5,24,740 | 4,85,748 | 38,992 | 8% |
| 4 | Nippon India | 3,50,564 | 3,13,598 | 36,966 | 12% |
| 5 | Kotak | 3,33,687 | 3,09,862 | 23,825 | 8% |
| 6 | Aditya Birla Sun Life | 3,10,899 | 2,96,937 | 13,962 | 5% |
| 7 | UTI | 2,66,813 | 2,48,088 | 18,725 | 8% |
| 8 | Axis | 2,59,795 | 2,48,160 | 11,635 | 5% |
| 9 | Mirae Asset | 1,38,918 | 1,22,802 | 16,116 | 13% |
| 10 | DSP | 1,30,149 | 1,17,726 | 12,423 | 11% |
| 11 | Tata | 1,27,598 | 1,11,151 | 16,447 | 15% |
| 12 | Bandhan (erstwhile IDFC) | 1,24,582 | 1,18,168 | 6,414 | 5% |
| 13 | Edelweiss | 1,10,972 | 1,05,550 | 5,422 | 5% |
| 14 | HSBC | 97,641 | 87,926 | 9,715 | 11% |
| 15 | Canara Robeco | 74,916 | 67,532 | 7,384 | 11% |
| 16 | Franklin Templeton | 73,020 | 65,749 | 7,271 | 11% |
| 17 | Invesco | 57,679 | 50,054 | 7,625 | 15% |
| 18 | Sundaram | 49,195 | 45,612 | 3,583 | 8% |
| 19 | PPFAS | 45,608 | 39,110 | 6,498 | 17% |
| 20 | Motilal Oswal | 34,998 | 31,593 | 3,405 | 11% |
| 21 | quant | 31,748 | 23,366 | 8,382 | 36% |
| 22 | Baroda BNP Paribas | 31,260 | 27,716 | 3,544 | 13% |
| 23 | LIC *1 | 24,257 | 22,248 | 2,009 | 9% |
| 24 | PGIM India | 23,548 | 22,518 | 1,030 | 5% |
| 25 | Mahindra Manulife | 12,582 | 10,262 | 2,320 | 23% |
| 26 | Union | 12,466 | 10,765 | 1,701 | 16% |
| 27 | 360 ONE (Erstwhile IIFL) | 6,205 | 5,421 | 784 | 14% |
| 28 | Bank of India | 4,915 | 4,144 | 771 | 19% |
| 29 | ITI | 4,712 | 4,037 | 675 | 17% |
| 30 | NJ | 4,470 | 4,361 | 109 | 2% |
| 31 | WhiteOak Capital | 4,200 | 3,018 | 1,182 | 39% |
| 32 | Bajaj Finserv *2 | 3,924 | NA | NA | NA |
| 33 | JM Financial | 3,845 | 3,154 | 691 | 22% |
| 34 | Navi | 3,600 | 3,049 | 551 | 18% |
| 35 | Quantum | 2,024 | 1,932 | 92 | 5% |
| 36 | IL&FS (IDF) | 1,511 | 1,382 | 129 | 9% |
| 37 | Samco | 1,268 | 815 | 453 | 56% |
| 38 | Trust | 1,185 | 1,163 | 22 | 2% |
| 39 | Taurus | 597 | 533 | 64 | 12% |
| 40 | Groww *3 | 438 | 377 | 61 | 16% |
| 41 | Shriram | 302 | 275 | 26 | 10% |
| 42 | IIFCL (IDF) *4 | – | 639 | NA | NA |
*1 – LIC MF completed the takeover of IDBI MF schemes in July 2023. Thus, for an apple-to-apple comparison, we have combined the average AUM of both fund houses for June quarter 2023.
*2 – Bajaj Finserv MF debuted with two NFOs on June 29, 2023 which were open for subscription until July 4, 2023.
*3 – Groww MF acquired Indiabulls MF in May 2023.
*4 – Details of IIFCL MF (IDF) were not available at the time of filing the story.
The ranking details further showcase significant shifts and trends in the mutual fund industry, reflecting dynamic market conditions and strategic fund management.
Ganesh Kumar
https://finplay.in/Mutual Fund Expert and Stock Market Enthusiast. Indian Stock Markets to the Moon 🚀