AUM of 11 equity funds (6 are ETFs!) grew by more than 30% in Oct 2019

AUM of many mutual funds registered a 30% or more growth in Oct 2019. Out of these 11 were equity mutual funds. Six of these are ETFs including ICICI Pru Nifty Low Vol 30 ETF (45% increase). A report.

AUM of 11 equity funds (6 are ETFs!) grew by more than 30% in Oct 2019

Published: November 12, 2019 at 10:58 am

Last Updated on

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!

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

Join our 1500+ Facebook Group on Portfolio Management! Losing sleep over the market crash? Don't! You can now reduce fear, doubt and uncertainty while investing for your financial goals! Sign up for our lectures on goal-based portfolio management and join our exclusive Facebook Community. The 1st lecture is free! Did you miss out on the lockdown discount? You can still avail it! Follow instructions in the above link!

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)

Aum change of mutual funds plotted against NAV change during the month of Oct 2019Most 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.

Do share if you found this useful
Share your thoughts on this topic at the  Reddit freefincal_user_forum

Reach your financial goals like a pro! Join our 1600+ Facebook Group on Portfolio Management! You can now reduce fear, doubt and uncertainty while investing for your financial goals! Sign up for our lectures on goal-based portfolio management and join our exclusive Facebook Community. The 1st lecture is free!
Want to check if the market is overvalued or undervalued? Use our market valuation tool (will work with any index!) or you buy the new Tactical Buy/Sell timing tool!
About the Author Pattabiraman editor freefincalM. Pattabiraman(PhD) is the founder, managing editor and primary author of freefincal. He is an associate professor at the Indian Institute of Technology, Madras. since Aug 2006. Connect with him via Twitter or Linkedin Pattabiraman has co-authored two print-books, You can be rich too with goal-based investing (CNBC TV18) and Gamechanger and seven other free e-books on various topics of money management. He is a patron and co-founder of “Fee-only India” an organisation to promote unbiased, commission-free investment advice. He conducts free money management sessions for corporates and associations on the basis of money management. Previous engagements include World Bank, RBI, BHEL, Asian Paints, Cognizant, Madras Atomic Power Station, Honeywell, Tamil Nadu Investors Association. For speaking engagements write to pattu [at] freefincal [dot] com
About freefincal & its content policy Freefincal is a News Media Organization dedicated to providing original analysis, reports, reviews and insights on developments in mutual funds, stocks, investing, retirement and personal finance. We do so without conflict of interest and bias. We operate in a non-profit manner. All revenue is used only for expenses and for the future growth of the site. Follow us on Google News Freefincal serves more than one million readers a year (2.5 million page views) with articles based only on factual information and detailed analysis by its authors. All statements made will be verified from credible and knowledgeable sources before publication. Freefincal does not publish any kind of paid articles, promotions or PR, satire or opinions without data. All opinions presented will only be inferences backed by verifiable, reproducible evidence/data. Contact information: letters {at} freefincal {dot} com (sponsored posts or paid collaborations will not be entertained)
Connect with us on social media
Our publications

You Can Be Rich Too with Goal-Based Investing

You can be rich too with goal based investingPublished by CNBC TV18, this book is meant to help you ask the right questions, seek the right answers and since it comes with nine online calculators, you can also create custom solutions for your lifestyle! Get it now. It is also available in Kindle format.
Gamechanger: Forget Startups, Join Corporate & Still Live the Rich Life You Want Gamechanger: Forget Start-ups, Join Corporate and Still Live the Rich Life you wantThis book is meant for young earners to get their basics right from day one! It will also help you travel to exotic places at low cost! Get it or gift it to a young earner

Your Ultimate Guide to Travel

Travel-Training-Kit-Cover-new This is a deep dive analysis into vacation planning, finding cheap flights, budget accommodation, what to do when travelling, how travelling slowly is better financially and psychologically with links to the web pages and hand-holding at every step. Get the pdf for Rs 199 (instant download)
Free android apps