Mutuals Mobilse Rs 61241.23 Cr In This Fiscal

Mutual funds have mobilised a gross amount of Rs 61,241.23 crore during the financial year 1999-2000 against Rs 22,701.73 crore in 1998-99, clocking a growth of 169.6 per cent. The net assets of all domestic schemes have grown 58.29 pe cent to Rs 1,07,946.10 crore, out of which Unit Trust of India's share of the total assets has dropped from 77.9 per cent in 1998-99 to 67 per cent.

Private sector mutual funds have gained at the cost of UTI. Net assets of the private sector mutual funds have grown from 9.97 per cent in 1998-99 to 23.32 per cent in 1999-2000. The net assets of the private sector mutual funds stood at Rs 25,167.89 crore.

 

Other public sector mutual funds also reported a decline in net assets from 12.09 per cent in 1998-99 to 9.68 per cent in 1999-2000. The net assets of these funds stood at Rs 10,444.78 crore as on March 31, 2000.

According to figures released by the mutual funds department of the Securities and Exchange Board of India (Sebi), after the adjustment of repurchases and redemptions, there was an inflow of funds of Rs 18,969.88 crore in the year under review, as compared to a net outflow of Rs 949.67 crore in 1998-99.

The figures also indicate that there has been a net inflow of funds of Rs 15,166.48 crore in the case of private sector mutual funds as compared to net inflow of Rs 1,452.70 crore during the previous year.

In the case of UTI, the net inflow has been Rs 4,548.32 crore as against a net outflow of Rs 2,737.53 crore during 1998-99. In the case of other public sector mutual funds, there has been a net outflow of Rs 744.92 against a net inflow of Rs 335.16 crore during the previous year.