SBI Mutual Fund (MF) on Thursday said its asset base has crossed Rs 5 lakh crore-mark in the March quarter, becoming the first fund house in the country to achieve such a feat. The fund house’s average asset under management (AAUM) rose to Rs 5.04 lakh crore in 2020-21 from Rs 3.73 lakh crore in the preceding fiscal, recording a growth of 35 per cent, SBI MF said in a statement.
In the December quarter, SBI MF had an asset base of Rs 4.56 lakh crore. The AAUM growth has been achieved on the back of a robust increase in the SIP (systematic investment plan) book and penetration in T30 and B30 locations, the fund house said.
The fund house’s SIP book increased to Rs 1,382 crore from Rs 1,180 crore over the last year, registering a growth of 17 per cent. Apart from SBI MF, other top players also saw growth in their respective asset base in the March quarter compared to the preceding three months.
HDFC MF, which is at the second position, saw its asset base rising to Rs 4.15 lakh crore during the period under review from Rs 3.89 lakh crore in the December quarter. ICICI Prudential MF at the third position recorded an average AUM of Rs 4.05 lakh crore in the three months ended March 2021, compared to Rs 3.8 lakh crore in the previous quarter.
Aditya Birla Sunlife MF, the fourth largest fund house, has seen its average AUM growing to Rs 2.7 lakh crore from Rs 2.55 lakh crore. The asset base of Kotak Mahindra MF soared to Rs 2.33 lakh crore at the end of the March quarter, as against Rs 2.16 lakh crore in the three months ended December 2020.
Nippon India MF’s average AUM rose to Rs 2.28 lakh crore in the March quarter from Rs 2.13 lakh crore in the preceding quarter. Overall, the asset base of the 43-player mutual fund industry rose to more than Rs 32 lakh crore at the end of March quarter from Rs 29.71 lakh crore at December-end.