Mutual Funds Industry in India
The Rs 6.70 trillion (US$ 121.25 billion) Indian mutual funds (MF) industry has 44 asset management companies (AMCs). Recent data released by AMFI indicated that average assets under management (AUM) rose by 4 per cent during the first quarter of 2012-13 wherein the industry added over Rs 27,389 crore (US$ 4.96 billion) to mark the asset base at Rs 6,92,180 crore (US$ 125.28 billion).
HDFC Mutual Fund maintained its pole position as the country's biggest MF with an average AUM of Rs 92,625 crore (US$ 16.76 billion), followed by Reliance MF, ICICI Prudential, Birla Sunlife MF and UTI MF.
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