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Dec 18, 1999
Private funds maintain lead in mobilisations
Private mutual funds (MFs) mobilised funds in excess of Rs 40.0 bn in November 1999, maintaining lead over MF giant, Unit Trust of India (UTI) which mobilised Rs 35.5 bn.
Figures released by Association of Mutual Funds in India (AMFI) reveal that private funds mobilised a cumulative figure of Rs 80 bn, which amounts to nearly 69% of total mobilisations in the industry. In all, private sector-funds posted net inflows of Rs 80.0 bn, which is three times the inflows of their public sector counterparts.
Pre-dominantly foreign-owned funds have again stolen a march over UTI by garnering mobilisations of Rs 40.0 bn, while the latter clocked inflows of Rs 35.5 bn.
For a change, Bank-sponsored MFs posted positive net inflows of Rs 1.7 bn, which is a major reversal from the last few months when they have been witnessing outflows.
As reported by a leading financial daily, equity-oriented schemes witnessed inflows of Rs 13.0 bn. However, income funds posted outflows of Rs 11.8 bn, with popularity of liquid funds also waning with outflows of over Rs 10 bn.
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