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Our Bureau

Mumbai, Dec. 2

SBI Mutual Fund has collected Rs 1,677 crore under its latest fixed maturity plan, which closed last week, indicating that short-term FMPs are still in favour.

Significantly, this investor interest has come at a time when the total assets under management of mutual funds registering a drop.

An official with the mutual fund said the 90-day debt scheme received good response from reail investors though the larger portion of the fund came from institutional investors. He said this is the second largest amount received under the scheme, the largest being Rs 1,800 crore collected by an earlier scheme six months ago.

“The investor profile is still to be analysed, but we have seen higher retail participation this time,” said Mr Srinivas Jain Chief Marketing Officer, SBI Mutual fund.

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