Page 14 - Banking Finance February 2025

MUTUAL FUND

Major startups like Unicommerce, contributing to our growth and suc- bills, and SDLs, along with constant
Ixigo, Awfis, TBO Tek, Swiggy, and cess. SIPs have contributed over 40% duration passive funds exceeding Rs.
Brainbees Solutions included signifi- to our Mutual Fund AUM, significantly 5,000 crore in AUM, will be covered.
cant OFS components in their IPOs. outpacing the industry's 20% contribu-
tion," he added. Nippon Life India AMC
HDFC Securities Surpasses
Sebi Introduces Mutual Launches First Fund from
Rs. 25,000 Crore in Mutual GIFT City
Fund AUM Funds Lite Framework for
HDFC Securities, a leading broking firm Passive Schemes Nippon Life India Asset Management
and subsidiary of HDFC Bank, an- The Securities and Exchange Board of Limited has introduced its first fund
nounced that its total Assets Under India (Sebi) has rolled out the Mutual from GIFT City, the Nippon India Large
Management (AUM) for mutual funds Funds Lite (MF Lite) framework for Cap Fund GIFT.
has exceeded Rs. 25,000 crore. passively managed schemes. This feeder fund, managed by Nippon
This milestone reflects the company's Previously, the regulatory framework Life India Asset Management Limited
dedication to helping customers for mutual funds applied uniformly to (IFSC Branch), will invest in the Nippon
achieve their long-term financial goals both active and passive schemes with- India Large Cap Fund, a 17-year-old
through disciplined investing and con- out differentiation in provisions related fund with a strong track record and
sistent savings, according to an official to entry barriers such as net worth, over Rs. 35,000 crore in AUM.
release. track record, and profitability.
The launch represents a significant
"We are thrilled to have reached this In Phase 1 of the MF Lite framework,
milestone in expanding the firm's glo-
milestone and extend our gratitude to only passive funds based on domestic
bal reach and offering innovative in-
our customers for their trust and loy- equity indices with collective AUM ex- vestment opportunities to interna-
alty," said Dhiraj Relli, Managing Direc- ceeding Rs. 5,000 crore as of Decem-
tional investors.
tor and CEO of HDFC Securities. ber 31 of each financial year will be
included.
"Our focus on doing things the right
way has fostered a culture of disci- Additionally, domestic target maturity Axis Mutual Fund Alters
plined investing and consistent savings, debt passive funds based on G-Secs, T- Axis All Seasons Debt
Fund Attributes
Mutual Fund SIP Inflows Cross Rs. 26,000 Crore for
Axis Mutual Fund has announced
the First Time
changes to the fundamental attributes
Monthly inflows into mutual fund SIPs reached an all-time high of Rs. 26,459 of the Axis All Seasons Debt Fund of
crore in December, surpassing Rs. 25,320 crore in November.
Funds. The scheme will now be re-
The total number of mutual fund folios hit a record 22,50,03,545 in Decem- named Axis Income Advantage Fund of
ber 2024. Retail mutual fund folios, including equity, hybrid, and solution- Funds, effective February 14, 2025.
oriented schemes, rose to 17,89,93,911 in December from 17,54,84,468 in
November. The scheme's investment universe will
shift to focus on fund-of-fund invest-
Retail AUM for equity, hybrid, and solution-oriented schemes increased to
ments in debt-oriented mutual fund
Rs. 39,91,313 crore in December, compared to Rs. 39,70,220 crore in No-
schemes and arbitrage funds.
vember.
The number of new SIPs registered in December reached 54,27,201, up from The revised allocation includes 95-
49,46,408 in November. SIP AUM climbed to Rs. 13.63 lakh crore in De- 100% in units of mutual fund schemes,
cember, up from Rs. 13.54 lakh crore in November. The total number of SIP with 50-100% in debt-oriented
accounts also reached a record 10,32,02,796, compared to 10,22,66,590 schemes, 0-45% in arbitrage funds, and
in November. 0-5% in money market instruments.

BANKING FINANCE | FEBRUARY | 2025 | 13