ICICI Prudential MF overtakes HDFC MF in February

ICICI Prudential MF's assets stood at Rs 1.74 lakh cr against that of Rs 1.7 lakh cr of HDFC MF

ICICI Prudential MF has overtaken HDFC MF to become the largest fund house in India. According to Value Research data, as on February 29, ICICI Prudential MF’s assets stood at Rs 1.74 lakh crore against HDFC MF’s Rs 1.7 lakh crore.

In April last year, ICICI Prudential MF toppled Reliance MF to become the third-largest fund house in terms of assets under management.

What helped ICICI Prudential MF shore up its assets is its fund performance across the board, particularly its equity schemes, which have gained in size in recent times.

According to Value Research data, Reliance Mutual Fund is the third largest fund with assets of Rs 1.54 lakh crore, followed by Birla Sun Life MF (Rs 1.31 lakh crore), and SBI Mutual Fund (Rs 1.06 lakh crore).