New entrants look to turn the race in top-heavy MF industry

Five new fund houses have amassed 12,400 crore AUM during initial period

- ABHISHEK KUMAR

Five mutual fund (MF) players that started out post the onset of the pandemic — Trust, Navi, NJ, WhiteOak Capital and Samco — have managed to amass assets under management (AUM) worth ₹12,400 crore as they embark on the next phase of growth, post the establishment of one-year track record in some of their schemes. Their aggregate AUM is 0.3 per cent of the total industry AUM of over ₹46 trillion.

The industry continues to add new players even as these players are working to achieve some scale. Zerodha and Helios Capital received their MF licence last week, while Groww obtained the approvals to acquire Indiabulls MF in May. 2023 has seen the entry of four new fund houses, including Bajaj Finserv MF, which started operations recently.