 "mutual funds, MFs")
The growth in retail assets under management (AUM) of top fund houses has outpaced its overall AUM growth in the last two years (between June 2021 and June 2023). This period was marked by strong retail flows into equity schemes through systematic investment plans (SIPs) and continued outflows from debt funds, which are primarily institutional products.
Retail assets, which are mostly in equity-oriented and hybrid schemes, were also boosted by bouts of market rally in the two-year period. As of June 2023, HDFC Mutual Fund (MF) was managing the highest retail assets at Rs 1.31 trillion, followed closely by SBI MF with Rs 1.21 trillion AUM.
The two fund houses saw their retail AUM surge 39 per cent and 52 per cent, respectively, in the period. In the same duration, the growth in their overall AUM was lower at 20 per cent and 42 per cent, respectively.
Overall, the industry's retail AUM surged 48 per cent to Rs 22.7 trillion in the two years. Among the top 10 fund houses, Kotak Mahindra MF and Mirae Asset MF logged the highest growth in retail assets -- at 70 per cent and 66 per cent -- respectively.
