Last Updated on December 29, 2021 at 5:11 pm
October 2019 was a good month for the mutual fund industry. The AUM of as many as 45 funds moved up in AUM by 30% or more. Out of these 11 are equity mutual funds including six ETFs. Notable among these is ICICI Pru Nifty Low Vol 30 ETF with a 45% increase in AUM. This is a report.
Studying monthly changes in AUM has two benefits. For an analyst, it indicates what products the AMC is “pushing”. For an investor, depending on the fund category and AUM level it could be something to keep an eye on. Sustained high AUM growth month on month especially during a bull market should make investors look at performance closely.
The 11 mutual funds with more than 30% growth in AUM in Oct 2019
| Scheme Name | AUM Change | NAV Change |
| ICICI Pru Pvt Banks ETF | 126% | 2% |
| Mirae Asset Nifty 50 ETF | 102% | 3% |
| IIFL Focused Equity Fund-Reg | 73% | 3% |
| Nippon India ETF Hang Seng BeES | 58% | 2% |
| Bharat 22 ETF | 53% | 3% |
| ICICI Pru Nifty Low Vol 30 ETF | 45% | 3% |
| ICICI Pru Bank ETF | 38% | 3% |
| Quant Active Fund | 35% | 10% |
| ICICI Pru Sensex Index Fund | 34% | 4% |
| Nippon India Index Fund – Sensex Plan | 31% | 4% |
| Motilal Oswal Nifty Midcap 150 Index Fund-Reg | 31% | 3% |
The NAV change is also shown to check if the AUM growth was due to NAV movement or dominated by inflows. For example, ICICI Pru Technology Fund fell by 5% in Oct 2019. The AUM fell by 4%. Meaning inflows were limited. In the case of Quantum Long Term Equity, the NAV moved up by 2% and the AUM by 3%. Again no significant inflows. All percentages are approximate. Notice that there are only two active funds in the top 11!
ICICI Prudential Private Banks ETF at 390 Crores AUM is fairly respectable. ICICI Pru Nifty Low Vol 30 ETF at 62 Crores is fairly small but something to keep an eye out for. ICICI Asset allocator and ICICI BSE 500 ETF moved up 20%. Readers may recall we had discussed why the AUM is increasing: ICICI Prudential Asset Allocator Fund: Here is why you should avoid this!
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Mutual funds with biggest AUM increase during Oct 2019
| Scheme Name | NAV Change | AUM Change |
| BNP Paribas Overnight Fund | 0.4% | 2018% |
| Mahindra Overnight Fund | 0.4% | 843% |
| LIC MF Overnight Fund | 0.4% | 616% |
| Nippon India Overnight Fund | 0.4% | 575% |
| Union Overnight Fund | 0.4% | 461% |
| Baroda Overnight Fund | 0.4% | 441% |
| Sundaram Overnight Fund | 0.4% | 411% |
| Indiabulls Overnight Fund | 0.4% | 348% |
| Quant Liquid Plan | 0.5% | 283% |
| Edelweiss Overnight Fund | 0.4% | 172% |
| SBI Overnight Fund | 0.4% | 146% |
| ICICI Pru Pvt Banks ETF | 2.1% | 126% |
| L&T Cash Fund | 0.3% | 117% |
| Mirae Asset Nifty 50 ETF | 3.4% | 102% |
| IDFC Overnight Fund | 0.4% | 95% |
| JM Short Term Fund | -2.6% | 90% |
| PGIM India Overnight Fund | 0.4% | 81% |
| Tata Liquid Fund | 0.5% | 75% |
| HSBC Overnight Fund | 0.4% | 74% |
| ICICI Pru Overnight Fund | 0.4% | 74% |
| IIFL Focused Equity Fund | 2.7% | 73% |
| Baroda Ultra Short Duration Fund | 0.6% | 68% |
| Nippon India ETF Hang Seng BeES | 2.3% | 58% |
| Bharat 22 ETF | 3.1% | 53% |
| ICICI Pru Nifty Low Vol 30 ETF | 3.3% | 45% |
| HDFC Overnight Fund | 0.4% | 44% |
| LIC MF ST Debt Fund | 1.0% | 43% |
| Franklin India Savings Fund | 0.7% | 40% |
| PGIM India Ultra ST Fund | 0.5% | 39% |
| ICICI Pru Bank ETF | 3.0% | 38% |
| Nippon India Money Market Fund | 0.7% | 37% |
| Quant Active Fund | 10.2% | 35% |
| Axis Treasury Advantage Fund | 0.9% | 35% |
| ICICI Pru Sensex Index Fund | 3.6% | 34% |
| ICICI Pru Retirement Fund-Pure Debt Plan | 1.0% | 33% |
| Invesco India Ultra Short Term Fund | 0.7% | 32% |
| Canara Rob Overnight Fund | 0.4% | 32% |
| Nippon India Index Fund – Sensex Plan | 3.6% | 31% |
| Nippon India Liquid Fund | 0.5% | 31% |
| Axis Short Term Fund | 1.1% | 31% |
| Motilal Oswal Nifty Midcap 150 Index Fund | 3.4% | 31% |
| Franklin India Banking & PSU Debt Fund | 1.2% | 30% |
| SBI Magnum Ultra Short Duration Fund | 0.7% | 30% |
| LIC MF Banking & PSU Debt Fund | 1.1% | 30% |
| SBI Liquid Fund | 0.5% | 29% |
This is the full list of 45 funds. It is dominated by overnight funds. Since the portfolio of an overnight fund changes every day, such huge in and outflows will be common. Read more: Worried about risk in debt mutual funds? Park your money in overnight mutual funds
Funds that lost more than 10% AUM in Oct 2019
| Scheme Name | NAV Change | AUM Change |
| Indiabulls Savings Fund-Reg(G) | 1% | -63% |
| HDFC Sensex ETF | 4% | -39% |
| PGIM India Insta Cash Fund(G) | 0% | -35% |
| JM Low Duration Fund(G) | -4% | -28% |
| Franklin India Overnight Fund(G) | 0% | -26% |
| Baroda Conservative Hybrid Fund(G) | 1% | -26% |
| ITI Liquid Fund-Reg(G) | 0% | -25% |
| Kotak Floating Rate Fund-Reg(G) | 0% | -21% |
| LIC MF Arbitrage Fund-Reg(G) | 1% | -21% |
| Principal Credit Risk Fund(G) | 1% | -21% |
| ICICI Pru Liquid ETF | 0% | -19% |
| DSP NIFTY Next 50 Index Fund-Reg(G) | 4% | -18% |
| PGIM India Short Maturity Fund(G) | 1% | -15% |
| Indiabulls Liquid Fund(G) | 0% | -15% |
| Nippon India Prime Debt Fund(G) | 1% | -15% |
| IDBI Gilt Fund(G) | 1% | -14% |
| BNP Paribas Corp Bond Fund(G) | 2% | -13% |
| Invesco India Equity Savings Fund-Reg(G) | 2% | -11% |
The drop in HDFC Sensex ETF is intriguing.
AUM Change vs Nav Change Oct 2019
If we exclude funds more than 30% increase in AUM (as they will skew the plot)
Most funds witnessed a less than 2% change in NAV and a less than 20% change in AUM. We shall track these changes in future months.
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