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Tata
Mutual Fund notches up highest AUM in the last financial
year (March 04 to March 05)
May 3, 2005
Tata
Mutual Fund has achieved the highest incremental Assets
Under Management in the period March 04 to March 05
amongst 29 other mutual funds. Assets Under Management
moved up from Rs 4,013.91 on March 31, 2004 to Rs 6,784.04
(March 31, 2005) signifying an increase in AUM of Rs
2,770.12 crore — the highest for any mutual fund,
according to information released by AMFI. In percentage
terms the growth translates to 69 per cent year on year
basis.
The mutual fund industry increased
by Rs11,372.89 crore (a growth of 8.21 per cent) during
this period. Tata Mutual Fund's share of this industry
growth has been 24.36 per cent.
Ved Prakash Chaturvedi —
managing director, Tata Asset Management Ltd., said
that “the growth is the result of focus on fundamental
growth drivers like fund performance, servicing and
brand communication. Our efforts in the area of servicing
our investor are being rewarded. We now service over
600,000 investor accounts.”
The growth in the Assets Under
Management for Tata Mutual Fund has come in the wake
of successful launches of innovative and theme-based
funds — Tata Equity P/E Fund, Tata Infrastructure
Fund, Tata Service Industries Fund, Tata Dividend Yield
Fund — to name a few. The Fundhouse has been consciously
expanding distribution into newer markets as well as
into newer channel types, for example banking. The number
of branch offices has increased from 16 (March 04) to
23 (March 05) said Mr Chaturvedi. “This has in
great measure helped reach the width of distribution
necessary for a brand such as Tata Mutual Fund to capitalise
on the goodwill of the brand name. Our service has also
kept pace with our branch and distribution expansion
initiatives. Our investor base has also increased from
286,000 (March 2004) to over 484,000 in March 2005 —
signifying the trust and reassurance reposed in the
Tata Mutual brand.”
Table 1
Growth in AUM in crore
|
Mutual Fund
|
AUM in Crore
|
| Tata Mutual Fund |
2770.12 |
| Reliance Mutual Fund |
2302.06 |
| Principal Mutual Fund |
1888.02 |
| HSBC Mutual Fund |
1718.79 |
| Birla Sun Life Mutual Fund |
1505.22 |
| SBI Mutual Fund |
1387.2 |
| Kotak Mahindra Mutual Fund |
1359.09 |
| Prudential ICICI Mutual
Fund |
963.63 |
| JM Financial Mutual Fund |
884.506 |
| DSP Merryll Lynch Mutual
Fund |
635.23 |
Source: Association of
Mutual Funds in India (AMFI)
Table
2
Percentage growth in AUM
| Mutual Fund |
% growth
in AUM |
AUM Growth
in crores |
| Benchmark Mutual
Fund |
588.90 |
416.32 |
| Tata Mutual
Fund |
69.01 |
2770.12 |
| Principal Mutual
Fund |
51.97 |
1888.02 |
| HSBC Mutual
Fund |
37.96 |
1718.79 |
| Reliance Mutual
Fund |
31.79 |
2302.06 |
| Taurus Mutual
Fund |
29.41 |
38.36 |
| JM Financial
Mutual Fund |
27.85 |
884.50 |
| SBI Mutual Fund
|
26.64 |
1387.20 |
| Kotak Mahindra
Mutual Fund |
25.69 |
1359.09 |
| Birla Sun Life
Mutual Fund |
16.97 |
1505.22 |
| Can Bank Mutual
Fund |
14.44 |
204.82 |
Source: Association of Mutual
Funds in India (AMFI)
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