Aditya Birla Sun Life returned to the club of India’s top three asset management companies last month, replacing Reliance Mutual Fund at the third spot.
Inflows into equity mutual funds hit a 13-month low in March as net investments into these funds declined 59 percent over the previous month to Rs 6,657 crore, according to Association of Mutual Funds in India data. That’s despite a record inflow of Rs 3,703 crore into equity-linked savings schemes in the last month of the financial year to help save on income tax.
Here’s what India’s top three fund houses bought and sold for in March:
ICICI Prudential Mutual Fund
The total equity assets managed by the fund house stood at Rs 1.17 lakh crore, invested across 415 securities at the end of March. It had the highest exposure in financials at 24.8 percent, followed by utilities at 10.3 percent. The company’s market share improved by one basis point to 13.26 percent in the last financial year.
HDFC Mutual Fund
The total equity assets managed by the fund house stood at Rs 1.3 lakh crore across 400 securities. It, too, had the highest exposure towards financials sector at 31.1 percent, followed by industrials at 15.9 percent. Its market share rose eight basis points to 13.02 percent in the year ended March.
Aditya Birla Sun Life Mutual Fund
Total equity assets managed by the Aditya Birla group company stood at nearly Rs 79,000 crore across 476 securities. Its highest exposure was towards the financials at 29.7 percent, followed by materials at 13.5 percent. The fund house’s market share rose by eight basis points to 10.7 percent in 2017-18.