New Delhi: UTI Mutual Fund has regained its long-held position as the largest MF house in the country, while pushing the three-month leader Prudential ICICI to the second slot in terms of total assets under management.
According to the latest data available with the Association of Mutual Funds in India (AMFI), UTI MF's total AUM surged 13 per cent to over Rs 35,000 crore in August, exceeding Prudential ICICI's total AUM of Rs 34,119 crore at the end of the month.
Prudential ICICI's assets under management rose about 9 per cent during the month from Rs 31,431 crore in July this year. UTI Mutual Fund had total assets of less than Rs 31,000 crore under management at the end of July.
Prudential ICICI had toppled UTI as the country's largest MF house earlier in May this year, while ending a historic reign of UTI and its subsequent off-shoot UTI Mutual Fund in the MF space. Pru ICICI held onto the top slot for three consecutive months, before lagging behind the long-term leader once again in August.
Incidentally, Prudential ICICI as ranked at the second position in this year's MF brand equity survey carried out by research firm AC Nielsen, ahead of the previous-year leader UTI at the third position.
SBI Mutual Fund was ranked at the top position in the survey, which was announced last week. On the back of investors reposing their faith in the equity markets and selective buying at higher levels, UTI MF as well as a host of other fund houses have witnessed a significant growth in their assets over the past one month.
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