Despite average assets under management (AUM) of the mutual fund (MF) industry clocking a 11.7 per cent increase during the month of

April 2009, four MF houses have reported fall in their AUM.

The steepest fall in percentage has been reported by Edelweiss Mutual Fund, which reported a fall of whopping 34.64 per cent in its average assets under management (AAUM).

Other mutual funds that reported fall in average asset under management (AAUM) are Benchmark Mutual Fund, ING Mutual Fund and HSBC Mutual Fund. While the Benchmark Mutual fund reported 12.11 per cent fall in their AAUM, the fall in case ING Mutual Fund and HSBC Mutual Fund are 6.94 per cent and 2.65 per cent respectively.

The AAUM of the 38 MF houses during the month has risen to

Rs 551,299 crore, compared to Rs 493,286 crore on March 31, 2009.

According to data released by Association of Mutual Funds in India (Amfi), Edelweiss’s AAUM at the end of April stood at Rs 14.56 crore, as against Rs 22.28 crore at the end of March.

AAUM of Benchmark MF fell from Rs 1,068.56 crore at the end of March to Rs 939.11 crore at the end of April.

While HSBC Mutual Fund reported a fall of Rs 253.91 crore in its AAUM during April, ING Mutual Fund’s AAUM fell by Rs 175.66 crore to Rs 2,353.08 crore.

“The fall in AAUM of HSBC is very surprising. It could be that HSBC faced some redemption. As far ING Mutual fund is concerned, their AAUM has fallen because one of the big FMP (fixed-maturity plan) has matured, which resulted in some sort of redemption. It needs to be pointed out that the base of other two mutual funds are small,” said Dhirendra Kumar, chief executive officer, Value Research.