Ownership change helps Nippon India Mutual Fund
MF AUM was up at Rs 2.04 lakh crore versus Rs 2.03 lakh crore as of September 30, 2019, up 0.8 per cent.
Mumbai: Ownership change has started reflecting in performance of Nippon India Mutual Fund, erstwhile Reliance Mutual Fund, as the third quarter results announced last week showed all-round improvement.
Nippon India MF reported asset under management (AUM) of Rs 3.1 lakh crore as of December 31, 2019. After the transaction which was concluded at the close of the second quarter, the company witnessed a reversal in AUM growth after four quarters of decline. MF AUM was up at Rs 2.04 lakh crore versus Rs 2.03 lakh crore as of September 30, 2019, up 0.8 per cent.
The share of equity AUM inched up to around 44 per cent in third quarter from 38 per cent a year ago and 43 per cent in Q2. The SIP book grew to 3.3 million folios from 3.2 million folios from September.
The management announced that around 170 corporates & SME clients, along with many HNIs, have again started investing in fixed income schemes, Centrum Insti-tutional Research said.