Mumbai, Oct 10: The majority of mutual funds and asset management companies posted losses in the financial year 2012-13, industry data showed.
Out of 44 fund houses, 23 reported losses in the past fiscal but overall the industry has posted a profit of Rs.758 crore, according to data released by the Association of Mutual Funds in India (AMFI).
Interestingly, only six asset management companies profit after tax was Rs.50 crore or more in the financial year ended March 31, 2013.
Reliance Mutual Fund profit after tax stood at Rs.253 crore for 2012-13. Franklin Templeton MF’s profit after tax was Rs.90 crore for the fiscal under review.
HDFC Mutual Fund recorded a profit after tax of Rs.319 crore and UTI Mutual Fund posted a profit after tax of Rs.149 crore.