ICICI Prudential AMC emerges second largest mutual fund house

Chennai, Feb 4 (UNI) ICICI Prudential AMC has regained the second slot, replacing UTI AMC with a huge margin.

A company release here today, the AMC had emerged as the second largest mutual fund house having recorded assets under management (AUM) of Rs 64,045.07 crore as on January 31, 2008, a quantum jump from Rs 56,772.58 crore in December 2007 and a rise of 13 per cent as against UTI AMC, which witnessed a fall of seven per cent in the AUM.

The difference between the AUMs of ICICI Prudential AMC (Rs 56,772.58 crore) and UTI AMC (Rs 56854.10 crore) in Dec 2007 was only Rs 80 crore.

However, for the period ended Jan 31, 2008, ICICI Prudential AMC was back at the second position by a significant margin of 11,000 crore over UTI AMC.

One of the highlights of the company was that 94 per cent of its equity funds (by AUM) had outperformed their Benchmark since the market started falling (for the period January eight to 31st 2008), the release added.

UNI SNR SJ 1714