Among fund houses, ICICI Prudential Mutual Fund is the largest player in the hybrid space, managing Rs. 2.88 lakh crore in hybrid AAUM. The fund house has Rs. 32,923 crore in arbitrage funds, Rs. 4,765 crore in solution-oriented schemes and Rs. 2.50 lakh crore in hybrid funds. Hybrid assets constitutes 25.8% of its overall AAUM of Rs. 11.15 lakh crore.
SBI Mutual Fund ranks second with Rs. 2.12 lakh crore in hybrid AAUM, accounting for 16.8% of its total AAUM of Rs. 12.57 lakh crore. The fund house manages the industry’s second-largest arbitrage book at Rs. 45,130 crore, along with Rs. 11,831 crore in solution-oriented schemes and Rs. 1.55 lakh crore in hybrid funds.
HDFC Mutual Fund ffollos with Rs. 1.86 lakh crore in hybrid AAUM, representing 19.9% of its total assets. The fund house manages Rs. 24,855 crore in arbitrage schemes, Rs. 18,677 crore in solution-oriented funds and Rs. 1.42 lakh crore in hybrid funds.
Kotak Mahindra Mutual Fund and Nippon India Mutual Fund occupy the next two spots with Rs. 1.41 lakh crore and Rs. 50,959 crore in hybrid AAUM, respectively.
Let’s take a closer look at the table to understand better:
|
Rank
|
Fund House
|
Arbitrage
|
Solution
oriented
schemes
|
Hybrid
|
Total Hybrid
AAUM
|
Total AAUM
as on
June 26
|
% of the
Total AAUM
|
|
1
|
ICICI Prudential MF
|
32,923
|
4,765
|
2,50,269
|
2,87,958
|
11,14,544
|
25.8
|
|
2
|
SBI MF
|
45,130
|
11,831
|
1,54,634
|
2,11,595
|
12,57,352
|
16.8
|
|
3
|
HDFC MF
|
24,855
|
18,677
|
1,42,282
|
1,85,814
|
9,35,081
|
19.9
|
|
4
|
Kotak Mahindra MF
|
72,648
|
–
|
67,920
|
1,40,568
|
5,90,511
|
23.8
|
|
5
|
Nippon India MF
|
16,560
|
3,187
|
31,212
|
50,959
|
7,51,519
|
6.8
|
|
6
|
Tata MF
|
24,033
|
4,777
|
17,635
|
46,445
|
2,28,538
|
20.3
|
|
7
|
ABSL MF
|
26,803
|
592
|
16,352
|
43,747
|
4,27,675
|
10.2
|
|
8
|
UTI MF
|
11,204
|
10,092
|
18,950
|
40,246
|
3,92,691
|
10.2
|
|
9
|
Edelweiss MF
|
15,277
|
–
|
20,872
|
36,150
|
1,70,951
|
21.1
|
|
10
|
DSP MF
|
6,552
|
–
|
28,833
|
35,385
|
2,29,802
|
15.4
|
|
11
|
Invesco MF
|
28,829
|
–
|
3,207
|
32,036
|
1,46,009
|
21.9
|
|
12
|
Mirae Asset MF
|
3,840
|
–
|
16,870
|
20,710
|
2,24,952
|
9.2
|
|
13
|
Axis MF
|
10,091
|
1,908
|
8,648
|
20,647
|
3,69,030
|
5.6
|
|
14
|
Bandhan MF
|
8,274
|
182
|
8,249
|
16,705
|
2,04,046
|
8.2
|
|
15
|
Sundaram MF
|
601
|
–
|
14,809
|
15,410
|
76,929
|
20.0
|
|
16
|
Canara Robeco MF
|
–
|
–
|
14,323
|
14,323
|
1,18,728
|
12.1
|
|
17
|
HSBC MF
|
2,743
|
–
|
11,302
|
14,046
|
1,43,007
|
9.8
|
|
18
|
WhiteOakCapital
|
1,565
|
–
|
10,396
|
11,961
|
37,389
|
32.0
|
|
19
|
Franklin Templeton MF
|
1,457
|
492
|
8,727
|
10,676
|
1,26,017
|
8.5
|
|
20
|
Baroda BNP MF
|
1,222
|
509
|
8,793
|
10,524
|
53,149
|
19.8
|
|
21
|
Quant
|
505
|
–
|
8,946
|
9,451
|
95,314
|
9.9
|
|
22
|
PPFAS MF
|
2,594
|
–
|
6,053
|
8,647
|
1,60,807
|
5.4
|
|
23
|
Mahindra Manulife MF
|
126
|
–
|
4,939
|
5,065
|
34,786
|
14.6
|
|
24
|
Bajaj Finserv MF
|
1,186
|
–
|
3,135
|
4,321
|
33,027
|
13.1
|
|
25
|
NJ MF
|
272
|
–
|
3,385
|
3,657
|
6,922
|
52.8
|
|
26
|
Union MF
|
246
|
288
|
3,053
|
3,587
|
28,098
|
12.8
|
|
27
|
Motilal Oswal MF
|
2,795
|
–
|
730
|
3,525
|
1,42,530
|
2.5
|
|
28
|
LIC MF
|
250
|
15
|
2,241
|
2,507
|
49,535
|
5.1
|
|
29
|
ITI MF
|
78
|
–
|
1,787
|
1,865
|
11,302
|
16.5
|
|
30
|
PGIM India MF
|
96
|
101
|
1,312
|
1,509
|
26,640
|
5.7
|
|
31
|
Unifi MF
|
–
|
–
|
1,264
|
1,264
|
1,497
|
84.5
|
|
32
|
360 One MF
|
–
|
–
|
1,198
|
1,198
|
13,053
|
9.2
|
|
33
|
JM Financial MF
|
377
|
–
|
689
|
1,066
|
13,205
|
8.1
|
|
34
|
Bank of India MF
|
50
|
–
|
590
|
640
|
15,446
|
4.1
|
|
35
|
Samco MF
|
33
|
–
|
599
|
632
|
2,522
|
25.1
|
|
36
|
Jio BlackRock MF
|
581
|
–
|
–
|
581
|
17,979
|
3.2
|
|
37
|
Groww MF
|
89
|
–
|
457
|
547
|
5,106
|
10.7
|
|
38
|
Helios MF
|
145
|
–
|
295
|
441
|
11,103
|
4.0
|
|
39
|
Shriram MF
|
–
|
–
|
223
|
223
|
1,161
|
19.2
|
|
40
|
Old Bridge MF
|
186
|
–
|
–
|
186
|
3,419
|
5.4
|
|
41
|
Navi MF
|
–
|
–
|
113
|
113
|
9,453
|
1.2
|
|
42
|
Trust MF
|
106
|
–
|
–
|
106
|
5,075
|
2.1
|
|
43
|
Capital Mind MF
|
21
|
–
|
37
|
58
|
569
|
10.2
|
|
44
|
Quantum MF
|
–
|
–
|
57
|
57
|
3,185
|
1.8
|
|
45
|
Abbakus MF
|
–
|
–
|
–
|
–
|
5,580
|
0.0
|
|
46
|
Angel One MF
|
–
|
–
|
–
|
–
|
565
|
0.0
|
|
47
|
Choice MF
|
–
|
–
|
–
|
–
|
83
|
0.0
|
|
48
|
Taurus MF
|
–
|
–
|
–
|
–
|
1,009
|
0.0
|
|
49
|
Zerodha MF
|
–
|
–
|
–
|
–
|
15,373
|
0.0
|
|
|
Grand Total
|
3,44,345
|
57,417
|
8,95,388
|
12,97,150
|
83,12,264
|
15.6
|
Note: The Wealth Company has been excluded from the analysis as the data provided in its table could not be reconciled.
Among other fund houses, Tata Mutual Fund manages Rs. 46,445 crore in hybrid AAUM, followed by Aditya Birla Sun Life Mutual Fund at Rs. 43,747 crore and UTI Mutual Fund at Rs. 40,246 crore. Edelweiss Mutual Fund and DSP Mutual Fund round off the top 10 with Rs. 36,150 crore and Rs. 35,385 crore, respectively.
Looking at the proportion of hybrid assets within overall portfolios, Unifi Mutual Fund has the highest exposure, with 84.5% of its AAUM invested in hybrid strategies. It i followed by NJ Mutual Fund, where hybrid schemes accounted for 52.8% of total AAUM, and WhiteOak Capital Mutual Fund at 32%.
Among larger fund houses with the highest AUM in hybrid funds are ICICI Prudential Mutual Fund (25.8%), Kotak Mahindra Mutual Fund (23.8%), Invesco Mutual Fund (21.9%), Edelweiss Mutual Fund (21.1%), Tata Mutual Fund (20.3%) and HDFC Mutual Fund (19.9%).
In the arbitrage category, Kotak Mahindra Mutual Fund leads the industry with Rs. 72,648 crore, followed by SBI Mutual Fund (Rs. 45,130 crore), ICICI Prudential Mutual Fund (Rs. 32,923 crore), Invesco Mutual Fund (Rs. 28,829 crore) and Aditya Birla Sun Life Mutual Fund (Rs. 26,803 crore).
For solution-oriented schemes, HDFC Mutual Fund tops the industry with Rs. 18,677 crore, followed by SBI Mutual Fund (Rs. 11,831 crore), UTI Mutual Fund (Rs. 10,092 crore) and Tata Mutual Fund (Rs. 4,777 crore).
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