Mutual funds (MFs) saw a turnaround in 2009 with net resources mobilised rising to Rs 1.43 lakh crore compared to withdrawals in 2008 led by strong inflows into private fund houses, the Economic Survey said today.

"During 2009, total net resources mobilised by mutual funds increased to Rs 1,43,775 crore compared to net redemptions amounting to Rs 624 crore in 2008," the Survey tabled in the Parliament today stated.

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Inflows into mutual funds had been impacted due to volatile stock market conditions in 2008.

Private sector mutual funds, which had witnessed heavy redemption pressure in 2008, recorded a turnaround with total net resource mobilisation at Rs 1,14,095 crore in 2009 against net withdrawals of Rs 12,506 crore in 2008.

Total funds mobilised by public sector mutual funds were marginally higher at Rs 17,624 crore in 2009 against Rs 14,587 crore in 2008. In 2007, private sector MFs had mobilised Rs 1.20 lakh crore against Rs 8,259 crore collected by public sector funds' in the year, the Survey said.

The share of income or debt-oriented schemes in total assets under management was higher at 54.2 per cent in 2009 against 47.7 per cent in 2008. The assets under management of equity or growth-oriented schemes accounted for 26.3 per cent of the total assets under management in 2009.

However, the share of money market schemes in total assets under management declined to 12 per cent during 2009 from 20 per cent during 2008.

In 2006 and 2005 as well, private sector funds had mobilised Rs 86,295 crore and Rs 19,735 crore, respectively. In contrast, public sector funds houses had been able to get inflows of Rs 12,229 crore and Rs 4,446 crore in 2006 and 2005, respectively.

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