Mutual Fund Screener

Mutual Fund Screener

For the quarter ended June 2019

Mutual Fund Screener - What's Inside

Mutual Fund Screener - June 2019

01

Industry Size

02

Inflow Outflow Analysis

03

Category Performance

04

Investor Trends

05

Industry Insights

06

Regulatory Update

Section I

Industry Size

Mutual Fund Screener - June 2019

Industry QAAUM grows 9% YoY to Rs. 25.5 lakh crore in Q1FY20

In Q1FY20, the QAAUM of the MF industry increased by Rs. 1.02 lakh crore to reach Rs. 25.5 lakh crore SIP contribution in the quarter stood at Rs. 24,543 crore compared with Rs. 24,214 crore in Q4FY19

AUM growth trend of AMCs for the quarter ended Jun-19

AMCs Range

Top 5 -1% to 15%

Next 10 -1% to 21%

Source: AMFI, ICRA Online Research; Note: QoQ growth of QAAUM as of Jun-19

Rest -29% to 17%

Mutual Fund Industry (QAAUM)

3,000,000 2,000,000

2,340,377

YoY 9% 2,448,121

QoQ 4% 2,550,592

QAAUM (In Rs. Crore)

1,000,000

0 Q1FY19

Q4FY19

Q1FY20

Source: AMFI, ICRA Online Research; Note: QAAUM ? Quarterly Average Assets Under Management

AUM of top three AMCs stays north of Rs. 3 lakh crore

Jun-19

Mar-19

% Change QoQ

400,000

QAAUM (In Rs. Crore)

300,000

200,000

100,000

0

HDFC

ICICI

SBI

Aditya Birla Reliance

Kotak

UTI

Franklin

Axis

Mutual Prudential Mutual Sun Life

Mutual Mahindra Mutual Templeton Mutual

Fund Mutual Fund Fund Mutual Fund Fund Mutual Fund Fund Mutual Fund Fund

Source: AMFI, ICRA Online Research; Note: AUM ? Assets Under Management

20%

15%

10%

5%

0%

-5% IDFC Mutual Fund

In absolute terms, SBI Mutual Fund witnessed highest QAAUM growth followed by ICICI Prudential Mutual Fund in Q1FY20

Only Reliance AMC and UTI AMC witnessed QoQ de-growth in Q1FY20 compared with Q4FY19

3

QoQ Growth (In %)

Section II

Inflow Outflow Analysis

Mutual Fund Screener - June 2019

7,663 863 137 5,584

DBT - 1,71,349 EQ HY SO OT

Industry registers net inflow of Rs. 17,635 crore in Q1FY20

Industry-wide Net In ow Out ow

Net In ow Out ow - Open Ended Schemes*

In Rs. Crore

1,35,000 1,05,000

75,000 45,000 15,000

1,33,903 Q1FY19

22,999 Q4FY19

17,635 Q1FY20

Net In ow Out ow - Close Ended Schemes*

0

-78

In Rs. Crore

-2,500

-2,399

-5,000

In Rs. Crore

In Rs. Crore

-17

20,000 -20,000 -60,000 -1,00,000 -1,40,000 -1,80,000

Net In ow Out ow - Interval Schemes*

0

-100

-200

-300

EQ -218

DBT

EQ

DBT

DBT - Income/Debt Oriented Schemes, EQ - Growth/Equity Oriented Schemes, HY - Hybrid Schemes, SO - Solution Oriented Schemes, OT - Other Schemes Source: AMFI, ICRA Online Research, *As on Jun 30, 2019

Monthly inflows in Equity funds rise

Net in ow from Equity came in at Rs. 16,565 crore in Q1FY20 as against Rs. 23,036 crore in Q4FY19

Robust SIP contribution has led to the upside as it remained above Rs. 8,000 crore for seven consecutive months till Jun-19

Equity Net In ow Out ow

25,000

In Rs. Crore

20,000

15,000

10,000

5,000

0

-5,000 Ju n-14

Dec-14

Ju n-15

Dec-15

Ju n-16

Source: AMFI, ICRA Online Research; Note: Equity includes ELSS funds

Dec-16

Ju n-17

Dec-17

Ju n-18

Dec-18

Ju n-19

4

Section III

Category Performance#

Mutual Fund Screener - June 2019

4,436 4,620

4,336 4,301

4,485 4,583 4,549 4,547 4,760 4,791 4,888 4,910

Large Cap

Snapshot

Equity

AUM over Past 1 Year 3, 5

AUM1

Rs. 1.42 lakh crore

AAUM1

Rs. 1.41 lakh crore

No. of Funds1

30

No. of Folios1

88.66 lakh

Monthly Net Inflow Outflow1

Rs. 1,510 crore

In Rs. Crore

5,000 4,800 4,600 4,400 4,200 4,000

Performance across Periods 1, 2, 5

Large Cap category Nifty 50 TRI

Market Cap % Allocation 3, 4, 5

Jul-18 Aug-18 Sep-18 Oct-18 Nov-18 Dec-18 Jan-19 Feb-19 Mar-19 Apr-19 May-19 Jun-19

In % 8.32 11.42 11.25 13.93 10.2 10.53 12.26 11.99

16.50 13.20

9.90 6.60 3.30 0.00

1 Year

3 Years

5 Years

10 Years

1.38% 7.10%

91.52%

Large Cap Mid Cap Small Cap

Source: AMFI and ICRA Online Research Note 1. Data as on Jun 30, 2019; 2. Nifty 50 TRI has been considered as the benchmark for the schemes under review; 3. Period considered - Jul-18 to Jun-19; 4. Market cap has been calculated by taking average of period under review (Jul-18 to Jun-19); 5. Only open-ended, growth and regular plans considered

3,067 3,178

2,842 2,854

2,967 3,076

2,980 3,004

3,323 3,262

3,383 3,374

Mid Cap

Snapshot

AUM1

Rs. 0.78 lakh crore

AAUM1

Rs. 0.77 lakh crore

No. of Funds1

24

No. of Folios1

61.80 lakh

Monthly Net Inflow Outflow1

Rs. 845 crore

In Rs. Crore

AUM over Past 1 Year 3, 5

3,500 3,000 2,500

Jul-18 Aug-18 Sep-18 Oct-18 Nov-18 Dec-18 Jan-19 Feb-19 Mar-19 Apr-19 May-19 Jun-19

Performance across Periods 1, 2, 5

Mid Cap category

Nifty Midcap 100 TRI

Market Cap % Allocation 3, 4, 5

In % -0.55 -2.05

8.86 9.69 11.55 10.95

16.44 13.92

20.00 15.00 10.00

5.00 0.00 -5.00 -10.00

1 Year

3 Years

5 Years

10 Years

13.77% 18.88%

67.34%

Large Cap Mid Cap Small Cap

Source: AMFI and ICRA Online Research Note 1. Data as on Jun 30, 2019; 2. Nifty Midcap 100 TRI has been considered as the benchmark for the schemes under review; 3. Period considered - Jul-18 to Jun-19; 4. Market cap has been calculated by taking average of period under review (Jul-18 to Jun-19); 5. Only open-ended, growth and regular plans considered

#Only the top 5 categories under equity and debt considered on the basis of AUM and number of schemes

5

Category Performance

Small Cap

Snapshot

AUM1

Rs. 0.46 lakh crore

AAUM1

Rs. 0.46 lakh crore

No. of Funds1

21

No. of Folios1

50.28 lakh

Monthly Net Inflow Outflow1 Rs. 0.01 lakh crore

In Rs. Crore

Jul-18 Aug-18 Sep-18 Oct-18 Nov-18 Dec-18 Jan-19 Feb-19 Mar-19 Apr-19 May-19 Jun-19

2,426 2,556 2,313 2,234 2,204 2,161 2,016 1,933 2,205 2,191 2,210 2,182

Mutual Fund Screener - June 2019

AUM over Past 1 Year 3, 5

3,000 2,000 1,000

0

Performance across Periods 1, 2, 5

Small Cap category Nifty Smallcap 100 TRI

Market Cap % Allocation 3, 4, 5

In % -4.63 -12.75

7.99 3.08

12.08 3.86

14.92 10.12

15.00 5.00 -5.00

-15.00

16.99% 4.93%

78.07%

Large Cap Mid Cap Small Cap

1 Year

3 Years

5 Years

10 Years

Source: AMFI and ICRA Online Research Note 1. Data as on Jun 30, 2019; 2. Nifty Smallcap 100 TRI has been considered as the benchmark for the schemes under review; 3. Period considered - Jul-18 to Jun-19; 4. Market cap has been calculated by taking average of period under review (Jul-18 to Jun-19); 5. Only open-ended, growth and regular plans considered

4,227 4,399 3,934 3,769 3,953 4,014 3,973 3,959 4,343 4,373 4,374 4,396

Multi Cap

Snapshot

AUM1

Rs. 1.45 lakh crore

AAUM1

Rs. 1.44 lakh crore

No. of Funds1

34

No. of Folios1

84.49 lakh

Monthly Net Inflow Outflow1 Rs. 0.02 lakh crore

In Rs. Crore

AUM over Past 1 Year 3, 5

5,000 4,000 3,000 2,000 1,000

0

Jul-18 Aug-18 Sep-18 Oct-18 Nov-18 Dec-18 Jan-19 Feb-19 Mar-19 Apr-19 May-19 Jun-19

Performance across Periods 1, 2, 5

Multi Cap category Nifty 500 TRI 15.00

In % 5.74

6.65 11.07 12.8 11.05

10.64 13.64

12.06

10.00

5.00

1 Year

3 Years

5 Years

10 Years

Market Cap % Allocation 3, 4, 5

11.92% 17.24%

70.84%

Large Cap Mid Cap Small Cap

Source: AMFI and ICRA Online Research Note 1. Data as on Jun 30, 2019; 2. Nifty 500 TRI has been considered as the benchmark for the schemes under review; 3. Period considered - Jul-18 to Jun-19; 4. Market cap has been calculated by taking average of period under review (Jul-18 to Jun-19); 5. Only open-ended, growth and regular plans considered

6

Category Performance

Mutual Fund Screener - June 2019

2,075 2,161

1,992 1,954

2,047 2,085

2,052 2,014

2,222 2,237

2,299 2,285

ELSS

Snapshot

AUM1

Rs. 0.94 lakh crore

AAUM1

Rs. 0.94 lakh crore

No. of Funds1

43

No. of Folios1

115.97 lakh

Monthly Net Inflow Outflow1 Rs. 0.005 lakh crore

In Rs. Crore

AUM over Past 1 Year 3, 5

2,350 2,200 2,050 1,900

Jul-18 Aug-18 Sep-18 Oct-18 Nov-18 Dec-18 Jan-19 Feb-19 Mar-19 Apr-19 May-19 Jun-19

Performance across Periods 1, 2, 5

ELSS category S&P BSE 200 TRI

Market Cap % Allocation 3, 4, 5

In % 5.02

8.26 11.23 13.34 11.19

10.99 13.29

12.36

15.00

10.00

5.00

1 Year

3 Years

5 Years

10 Years

12.69% 19.76%

67.55%

Large Cap Mid Cap Small Cap

Source: AMFI and ICRA Online Research Note 1. Data as on Jun 30, 2019; 2. S&P BSE 200 TRI has been considered as the benchmark for the schemes under review; 3. Period considered - Jul-18 to Jun-19; 4. Market cap has been calculated by taking average of period under review (Jul-18 to Jun-19); 5. Only open-ended, growth and regular plans considered

Liquid

Snapshot

Debt

AUM over Past 1 Year 3,4

13,400 15,798

12,447 13,920 15,070 12,322 14,585 14,251 10,149 12,255 14,075 11,778

AUM1

Rs. 3.97 lakh crore

AAUM1

Rs. 5.40 lakh crore

No. of Funds1

40

No. of Folios1

15.74 lakh

Monthly Net Inflow Outflow1 Rs. -1.52 lakh crore

In Rs. Crore

18,000 12,000

6,000 0

Jul-18 Aug-18 Sep-18 Oct-18 Nov-18 Dec-18 Jan-19 Feb-19 Mar-19 Apr-19 May-19 Jun-19

Performance across Periods 1,2

Liquid category

ICRA Liquid Index

In % 6.33 6.41

6.47 6.52

6.85 7.06 7.06 7.39 6.97 7.38

7.50 7.00 6.50 6.00

1 Week

1 Month 3 Months 6 Months

1 Year

Instrument Allocation 3,4

CP - 52.07% CD - 24.26% Cash & Equivalents - 9.79% T Bill - 9.27% Others - 2.12% Bonds and Debentures - 1.85% SDL -0.48% Gilt - 0.15%

Source: AMFI and ICRA Online Research Note 1. Data as on Jun 30, 2019; 2. ICRA Liquid Index has been considered as the benchmark for the schemes under review; 3. Period considered - Jul-18 to Jun-19; 4. Only open-ended, growth and regular plans considered

7

Category Performance

Mutual Fund Screener - June 2019

3,235 3,490 2,925 2,813 2,775 2,828 2,900 3,015 3,197 3,682 3,721 3,391

Ultra Short Duration

Snapshot

AUM1

Rs. 0.88 lakh crore

AAUM1

Rs. 0.90 lakh crore

No. of Funds1

26

No. of Folios1

6.16 lakh

Monthly Net Inflow Outflow1 Rs. -0.02 lakh crore

In Rs. Crore

AUM over Past 1 Year 3,4

4,000 3,000 2,000 1,000

0

Jul-18 Aug-18 Sep-18 Oct-18 Nov-18 Dec-18 Jan-19 Feb-19 Mar-19 Apr-19 May-19 Jun-19

Performance across Periods 1,2

Instrument Allocation 3,4

In %

Ultra Short Duration category NIFTY Ultra Short Duration Debt Index

14.30

5.85 8.34

15.00 11.00

7.00 3.00 -1.00

1 Week

5.09

- 0.25 7.04

4.50 8.06

1 Month 3 Months 6 Months

6.36 8.17

1 Year

Bond/Debenture - 42.41% CD - 21.58% CP - 17.63% Cash & Equivalents - 13.44% T Bill - 3.14% Others - 1.80% SDL - 0.01%

Source: AMFI and ICRA Online Research Note 1. Data as on Jun 30, 2019; 2. NIFTY Ultra Short Duration Debt Index has been considered as the benchmark for the schemes under review; 3. Period considered Jul-18 to Jun-19; 4. Only open-ended, growth and regular plans considered

3,235 3,490 2,925 2,813 2,775 2,828 2,900 3,015 3,197 3,682 3,721 3,391

Low Duration

Snapshot

AUM1

Rs. 0.84 lakh crore

AAUM1

Rs. 0.87 lakh crore

No. of Funds1

26

No. of Folios1

9.20 lakh

Monthly Net Inflow Outflow1 Rs. -0.05 lakh crore

In Rs. Crore

AUM over Past 1 year 3,4

5,000 3,750 2,500 1,250

0

Jul-18 Aug-18 Sep-18 Oct-18 Nov-18 Dec-18 Jan-19 Feb-19 Mar-19 Apr-19 May-19 Jun-19

Performance across Periods 1,2

Low Duration category

ICRA Liquid Index

2.99 7.38

7.39

-11.78 7.06

6.52

6.01 6.41

-1.69

In %

10.00 0.00

-10.00 -20.00 -30.00 -40.00 -50.00 -60.00

-51.58

1 Week 1 Month 3 Months 6 Months 1 Year

Instrument Allocation 3,4

Bond/Debenture - 52.92% CD - 22.29% CP - 11.45% Cash & Equivalents - 11.03% Others - 1.97% SDL - 0.24% Gilt - 0.09% T Bill - 0.01%

Source: AMFI and ICRA Online Research Note 1. Data as on Jun 30, 2019; 2. ICRA Liquid Index has been considered as the benchmark for the schemes under review; 3. Period considered - Jul-18 to Jun-19; 4. Only open-ended, growth and regular plans considered

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