Equity Mutual Funds Experience Over ₹5,000 Crore AUM Decline in March 2023
11 equity mutual funds witness AUM fall by over Rs 5,000 crore in March. Check details
The Economic Times
Image: The Economic Times
In March 2023, 11 equity mutual funds in India reported a combined decline in assets under management (AUM) exceeding ₹5,000 crore. Notable funds like HDFC Balanced Advantage Fund and ICICI Prudential Large Cap Fund faced significant losses, impacting a total of 691 out of 728 equity mutual funds.
- 0111 equity mutual funds saw AUM decline by over ₹5,000 crore in March 2023.
- 02HDFC Balanced Advantage Fund and HDFC Flexi Cap Fund were among the hardest hit.
- 03ICICI Prudential Large Cap Fund's AUM dropped from ₹77,451 crore to ₹69,947 crore.
- 04SBI Mutual Fund's two funds saw AUM declines of ₹6,320 crore and ₹6,025 crore.
- 05Overall, 691 out of 728 equity mutual funds experienced AUM reductions.
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In March 2023, a total of 11 equity mutual funds in India experienced a significant decline in their assets under management (AUM), amounting to over ₹5,000 crore. Among the affected funds, the HDFC Balanced Advantage Fund and HDFC Flexi Cap Fund reported declines of ₹9,131 crore and ₹9,120 crore, respectively. These funds had previously crossed the ₹1 lakh crore AUM mark in February. Other notable declines included the ICICI Prudential Large Cap Fund, which saw its AUM drop from ₹77,451 crore to ₹69,947 crore, and the Kotak Flexicap Fund, which fell from ₹56,853 crore to ₹50,146 crore. The SBI Large Cap Fund and SBI Equity Hybrid Fund also reported declines of ₹6,320 crore and ₹6,025 crore, respectively. Overall, 691 out of 728 equity mutual funds faced reductions in AUM, indicating a challenging month for the equity mutual fund sector.
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The decline in AUM could lead to reduced investment opportunities and lower returns for investors holding these mutual funds, affecting their financial planning.
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