Mutual funds reported a healthy growth of Rs 16,354 crore in assets under management (AUM) in February taking the total AUM of the industry to Rs 5,65,459 crore.The sharp rise in fixed matuirity plans (FMPs) and Rs 7,000 crore collection through new fund offers (NFOs) boosted the mutual funds' assets last month.Reliance Mutual Fund was the biggest gainer last month with AUM growing by Rs 16,321.64 crore followed by HDFC Mutual Fund (a gain of Rs 2,529 crore), LIC Mutual Fund (Rs 2,240 crore) and SBI Mutual Fund (Rs 1,912 crore). ICICI Prudential, which lost Rs 4,767.42 crore in assets, was the biggest loser in February.In AUM rankings, Reliance MF continues to be in the number one spot followed by ICICI Prudential and UTI Mutual Fund. UTI Mutual Fund, the third largest AMC, lost Rs 191.48 crore last month as per data available on the website of Association of Mutual Funds in India (AMFI).The industry is now again in the difficult month of March where many extremes have been witnessed every year. There is expectation of almost Rs 50,000 crore plus going towards advance tax payment coupled with traditional demand from banks to shore up assets thereby driving up short-term rates.
