Tags:
Journalism of Courage
MUMBAI, NOV 18: Indian mutual funds have mobilised a gross amount of Rs 25,210.03 crore during the first seven months (April-October) of the current financial year as against Rs 12,288 crore previously and Rs 22710.73 crore of the entire fiscal year (1998-99). This shows a rise of 105 per cent.
According to the SEBI, after the adjustment of repurchases and redemptions, there was an inflow of funds of Rs 8,775.44 crore during the period as against a net outflow of Rs 949.67 crore of the entire previous financial year. There was a net inflow of funds of Rs 6067.11 crore in case of private sector funds as against Rs 1452.70 crore of the entire previous year.
In case of UTI the net inflow stood at Rs 3494.85 crore as against a net outflow of Rs 2737.53 crore last year. The net outflow of public sector mutual funds during the period was Rs 786.52 crore as against a net inflow of Rs 335.16 crore of the previous entire year, the release added.
Private sector players have seen a net inflow of Rs 6123 croreunder the open-end funds with gross collections at over Rs 15,500 crore. There has been a net outflow of Rs 56 crore from closed-end plans under private sector funds while gross collections have been a paltry Rs 51 crore. Clearly, the closed-end category is fading away from the menu of private players. Ditto for public funds which have not raised even a single penny from closed-end funds while there has been a outflow of Rs 766 crore from this category.
