Reliance MF assets rise in July; that of ICICI, UTI decline

NEW DELHI: The country's largest fund house, Reliance Mutual Fund, witnessed an increase of over Rs 800 crore in its average assets, while that of ICICI MF declined by Rs 5,000 crore in July.

According to data available with the Association of Mutual Funds in India ( AMFI), Anil Ambani Group firm Reliance MF witnessed an addition of Rs 859 crore to its average assets under management (AAUM) at Rs 1,02,179 crore during the month.

Besides this, the country's third largest fund house, ICICI Mutual Fund, witnessed an erosion of Rs 5,080 crore from its AUM in July to Rs 68,715 crore.

UTI MF also saw its asset base declining by Rs 2,238 crore during July to Rs 62,208 crore.

Of the 33 fund houses that have so far disclosed their AUM figures, 18 have registered growth.

The assets of SBI MF grew by Rs 4,779 crore to Rs 38,513 crore while that of Baroda Pioneer MF rose by Rs 879 crore to Rs 3,954 crore.

However, certain fund houses -- including Birla SunLife MF, L&T MF, Tata MF and Taurus MF -- witnessed a substantial erosion from their asset book.