The Rs 1,07,000 crore Indian mutual fund industry has been in the hands of few players. The Association of Mutual Funds of India (Amfi) data on assets under management (AUM) as on September 30, 2002, shows that top 10 mutual funds account for Rs 90,600 crore, which is 84.71 per cent of the total assets of mutual fund industry.
The Unit Trust of India tops the table with assets size of Rs 44,260 crore as on September 30, 2002, accounting for 41.39 per cent of total AUM. Prudential ICICI ranked second with assets size of Rs 8,926 crore, accounting for 8.35 per cent of the total. Templeton, after merger with Pioneer ITI, climbed up to third position with assets of Rs 8,193 crore, a share of 7.66 per cent.
HDFC Mutual ranked fourth with assets size of Rs 6,245 crore, accounting for 5.84 per cent, and Birla Sunlife AMC with assets size of Rs 4,885 crore ranked fifth, account for 4.57 per cent.
Private funds improved their share of AUM during the first half, while the UTI recorded a substantial drop.
The UTI
