The nine Mutual Funds, which posted the growth, are Birla Sun Life Mutual Fund, Baroda Pioneer MF, Canara Robeco MF, Escorts MF, HDFC MF, IDFC MF, JP Morgan MF, Kotak Mahindra MF and LIC MF.
Nine Mutual Fund companies out of 37 Mutual Funds (33 AMCs) grew their average assets under management (AAUM) by Rs. 384.10bn as of March 31, 2009, as compared to March 2008 (Source AMFI data).
And this growth arrested the slide and ensured that the industry’s AAUM y-o-y (March 2009 to March 2008) fell by 7% and not 14% (double the fall posted as of March 2009 as compared to March 2008).
The nine Mutual Funds, which posted the growth, are Birla Sun Life Mutual Fund, Baroda Pioneer MF, Canara Robeco MF, Escorts MF, HDFC MF, IDFC MF, JP Morgan MF, Kotak Mahindra MF and LIC MF. In fact, only Birla MF and HDFC MF amongst the Top MFs have posted a positive growth.
Birla Sun Life Mutual Fund (BSLMF) posted an absolute increase of Rs. 111.90bn
and a growth of 31.17% in its AAUM of March 2009 over March 2008. This growth is higher than that of HDFC MF (29.44%), Reliance MF (-10.97%), ICICI Prudential ( - 5.32%) and UTI MF (-0.47%).
BSLMF contributed 29.13% (absolute of Rs. 11,190.19 crore) to the overall growth in AAUM of Rs. 38,4.10bn. Amongst the 9 MFs that have posted positive growth, only BSLMF and HDFC MF have posted an absolute increase of over Rs. 100bn in AAUM while LIC MF comes close with Rs. 90.36bn.
BSLMF also increased its market share to 9.7% (up nearly 43%) as of March 2009 as compared to March 2008. The growth in market share of 43% is much higher than any of the peers. BSLMF has grown in a declining market; increased market share and added new customers.
Over the past one year the Birla Sun Life Mutual Fund, one of the India’s top 5 mutual fund houses, has registered impressive growth across parameters viz. Average AUM, distributor base, or customer base. Since January 2008, the AAUM has grown 40%, distributor base has doubled to over 26,000 and number of branches to 109. It has also doubled its customer folio base to 21.5 lakh.
Anil Kumar, CEO, BSLMF and BSLAMC, said, “Birla Sun Life Mutual Fund has become the fastest growing fund house in India due to its strong heritage and track record of consistent performance across equity and debt asset classes. We are proud of having earned the unique distinction of being the only Mutual Fund house to have won the most coveted CNBC TV18 Crisil award for the second time in a row.”
Birla Sun Life Mutual Fund has bagged the most coveted and respected industry award - CNBC TV 18 Crisil – ‘Mutual Fund House of the Year’ award for the second successive year. Birla Sun Life Mutual Fund has created history in the Indian mutual fund industry by bagging this prestigious award twice in succession for the years 2007 and 2008, demonstrating its clear focus on fund performance and product innovation.
Additionally, for the year 2008, Birla Sun Life Mutual Fund also received Debt Fund House of year award. Three of the funds also won the best fund award in their respective categories – Birla Sun Life Income Fund, Birla Sun Life Short Term Fund – Retail, Birla Sun Life Gilt Plus – Regular plan.
Nine Mutual Fund companies out of 37 Mutual Funds (33 AMCs) grew their average assets under management (AAUM) by Rs. 384.10bn as of March 31, 2009, as compared to March 2008 (Source AMFI data).
And this growth arrested the slide and ensured that the industry’s AAUM y-o-y (March 2009 to March 2008) fell by 7% and not 14% (double the fall posted as of March 2009 as compared to March 2008).
The nine Mutual Funds, which posted the growth, are Birla Sun Life Mutual Fund, Baroda Pioneer MF, Canara Robeco MF, Escorts MF, HDFC MF, IDFC MF, JP Morgan MF, Kotak Mahindra MF and LIC MF. In fact, only Birla MF and HDFC MF amongst the Top MFs have posted a positive growth.
Birla Sun Life Mutual Fund (BSLMF) posted an absolute increase of Rs. 111.90bn
and a growth of 31.17% in its AAUM of March 2009 over March 2008. This growth is higher than that of HDFC MF (29.44%), Reliance MF (-10.97%), ICICI Prudential ( - 5.32%) and UTI MF (-0.47%).
BSLMF contributed 29.13% (absolute of Rs. 11,190.19 crore) to the overall growth in AAUM of Rs. 38,4.10bn. Amongst the 9 MFs that have posted positive growth, only BSLMF and HDFC MF have posted an absolute increase of over Rs. 100bn in AAUM while LIC MF comes close with Rs. 90.36bn.
BSLMF also increased its market share to 9.7% (up nearly 43%) as of March 2009 as compared to March 2008. The growth in market share of 43% is much higher than any of the peers. BSLMF has grown in a declining market; increased market share and added new customers.
Over the past one year the Birla Sun Life Mutual Fund, one of the India’s top 5 mutual fund houses, has registered impressive growth across parameters viz. Average AUM, distributor base, or customer base. Since January 2008, the AAUM has grown 40%, distributor base has doubled to over 26,000 and number of branches to 109. It has also doubled its customer folio base to 21.5 lakh.
Anil Kumar, CEO, BSLMF and BSLAMC, said, “Birla Sun Life Mutual Fund has become the fastest growing fund house in India due to its strong heritage and track record of consistent performance across equity and debt asset classes. We are proud of having earned the unique distinction of being the only Mutual Fund house to have won the most coveted CNBC TV18 Crisil award for the second time in a row.”
Birla Sun Life Mutual Fund has bagged the most coveted and respected industry award - CNBC TV 18 Crisil – ‘Mutual Fund House of the Year’ award for the second successive year. Birla Sun Life Mutual Fund has created history in the Indian mutual fund industry by bagging this prestigious award twice in succession for the years 2007 and 2008, demonstrating its clear focus on fund performance and product innovation.
Additionally, for the year 2008, Birla Sun Life Mutual Fund also received Debt Fund House of year award. Three of the funds also won the best fund award in their respective categories – Birla Sun Life Income Fund, Birla Sun Life Short Term Fund – Retail, Birla Sun Life Gilt Plus – Regular plan.
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