New Delhi: Improved market sentiments helped mutual funds’ assets under management (AUM) soar by over 1.5 lakh crore to touch 8.2 lakh crore in 2012-13.

The country’s 44 fund houses together had an average AUM (asset under management) of 8,16,400 crore at the end of financial year ended March 31, according to latest data available with Association of Mutual Funds in India (Amfi).

The total AUM rose by a staggering 1.51 lakh crore or an increase of 23 per cent during 2012-13 from 6,64,792 crore in the preceding financial year.

Mutual Funds assets have been growing since January-March quarter of 2012. The industry’s total assets base was at 7,86,543 crore in the October-December quarter of financial year 2012-13.

Mutual funds collect money from investors and later invest the same into various market segments including stocks, IPOs (primary market) and bonds.

During the financial year, the market benchmark Sensex soared by about 8 per cent on positive measures taken by the government.

Most fund houses, including the top-ranked HDFC, Reliance, ICICI Prudential and UTI saw their AUMs rise during the last quarter.

However, fund houses like Sahara, BNP Paribas, Edelweiss, ING and Canara Robecco witnessed a decline in their AUMs from the levels seen in the previous financial year.

Of the 44 fund houses, 39 entities saw their AUMs rise during the period.

Market experts largely attributed the rise in AUM to a number of factors, including steps taken by the government and the market regulator to revive equity culture in the country and help channelise household income into stocks and mutual funds.

In the past financial year, Reliance Mutual Fund’ assets have grown by 6,468 crore, amounting to 21 per cent to 94,580 crore, while that of HDFC MF has increased by 11,842 crore, translating to a 13 per cent growth at 1,01,720 crore.

Excluding the domestic fund of funds, wherein a mutual fund scheme invests in various funds, HDFC MF retained its top slot with AUM of 1,01,720 crore, followed by Reliance Mutual Fund (94,580 crore), ICICI Prudential Mutual Fund (87,835 crore), Birla Sun Life Mutual Fund (77,046 crore) and UTI Mutual Fund (69,450 crore) in the top five list.

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