Falling markets a matter of concern for MF industry -- Kurian
PRESS TRUST OF INDIA

Falling markets a matter of concern for MF industry: Kurian

MAR 12: The fall in stock markets are a matter of concern for the mutual fund industry since the net asset values (NAVs) of the funds are likely to be hit by the meltdown, president of Association of Mutual Fund of India (AMFI) A P Kurian said today.

``When the markets (stock values) are falling continuously it is a matter of concern. Sector-specific funds like Infotech Fund will see their NAVs eroding sharply,'' Kurian told PTI here.

The mutual funds being long-term investments, ups and downs are a common phenomenon and stock prices of good infotech companies would recover in the long-term, he added.

The Securities and Exchange Board of India (SEBI) has taken adequate steps to contain the upheavals in the markets, Kurian said.

Despite a slew of measures by (SEBI) to contain downslide in prices, the BSE benchmark 30-share index closed sharply down by 114.07 points or 2.94 per cent at 3767.89, falling by more than 100 points for the third time after the Budget.

Asked about the impact on the retail investors, Kurian said those putting money in the mutual funds would be less affected by the downfall.

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