MFs raises Rs 18,000 cr

MFs raises Rs 18,000 cr
PRESS TRUST OF INDIA

MUMBAI, MAY 11: Mutual funds have mopped up a whopping Rs 18,969.88 crore of net resources during 1999-2000 against net outflow of Rs 949.67 crore the previous year. With this, net funds under the management of MFs in the country went up to Rs 1.08 lakh crore as on March 31, 2000.

Net inflow of funds for private sector MFs and Unit Trust of India (UTI) during the year was Rs 15,166.48 crore (Rs 1,452.70 crore during previous year) and Rs 4,548.32 crore (net outflow of Rs 2,737.53 crore) respectively, while other public sector funds have reported net outflow of Rs 744.92 crore (net inflow of Rs 335.16 crore).

On March 31, 2000, share of UTI and other public sector funds in the total mutual fund industry has come down to 67 per cent and 9.68 per cent, from 77.9 per cent and 12.09 per cent respectively, while that of the private sector funds have edged up to 23.32 per cent from 9.97 per cent the previous year. MFs' gross mobilisation during April 2000 was at Rs 5,373 crore, while the net inflows were at Rs 1,629 crore.