Financial Daily from THE HINDU group of publications
Sunday, Dec 21, 2003

Investment World
Port Info

Group Sites

Investment World - Mutual Funds
Markets - Mutual Funds
Columns - Fund Watch

Equity funds face outflows

  • There has been a steady increase in the scale of inflows into equity funds this year. This continued in November with inflows rising to Rs 1,904 crore. But investors continue to take profits with outflows at about Rs 2,000 crore. This has left the equity fund category with one more month of net outflows.

  • The assets under management of all funds was Rs 1,32,366 crore at the end of November, with private sector funds accounting for 76 per cent.

  • Inflows in November were Rs 44,382 crore and outflows at Rs 39,520 crore, leaving fund houses with an accretion of Rs 4,862 crore to their asset base.

  • Only liquid and money market funds had net inflows (Rs 6,400 crore). Apart from equity, gilt as well as conventional long-term oriented income funds witnessed net outflows of about Rs 1,500 crore.

  • UTI Mutual continues to top the chart in terms of assets under management (Rs 17,467 crore). But Prudential ICICI and Franklin Templeton, which now have assets in excess of Rs 15,000 crore under management, and HDFC Mutual Fund, whose assets are just below this threshold, run close and a shift in the asset-based rankings over the next few months cannot be ruled out.

  • Reliance Mutual Fund has announced a dividend of 60 per cent for the Reliance Growth Plan (Dividend Option).

    Investors as of December 18 are eligible to receive the dividend.

  • Alliance Capital Mutual has announced a dividend of 2 per cent for the quarterly dividend option of its income fund. The dividend is for the period ending December 15.

  • Tata Mutual has launched a floating-rate fund, which would invest in debt. This open-end fund will open for sale and redemption on an ongoing basis on December 26, 2003.

    BL Research Bureau

    Article E-Mail :: Comment :: Syndication

  • Stories in this Section
    Yahoo! offers online money transfer

    Platinum: The new style statement
    ICICI's Tax Saving Bond: Subscribe
    AirTel expense tracker service
    Region-specific slabs in roaming rates
    To deliver returns.... Stocks need higher economic growth
    Large-caps, greater expectations
    Asset management companies — No sign of any fee reduction
    Software acquisitions — Discretion to dictate deals
    The stock-splitting issue
    Tata Tax Saving Fund: Book profits partially
    Sundaram Select Mid-Cap: Hold
    PruICICI Tax Plan: Hold
    Franklin Templeton Bluechip: Invest
    Equity funds face outflows
    Orient Abrasives: Buy
    Thomas Cook: Hold/Buy on declines
    Igarashi Motors: Buy
    Tata Telecom: Pare exposures
    Dabur India: Hold
    Thermax: Buy
    IDBI Bank: Buy
    Uptrend to continue
    Focus of the week
    Further upside in HLL
    Query Corner
    More power to the SUVs
    Choices among automatic transmission variants
    Tata AIG's HealthFirst
    Ants and positive feedback
    Auto components stocks make merry
    Bullish days ahead
    Using futures/options
    Options guide
    Fenner India — Belt on for one year
    Capital gains: Where senior citizens stand
    Set-off and indexation
    Surya Pharmaceutical: Avoid
    T.V. Today Network: Invest
    Dare to be different in the futures market
    Acer launches new notebook
    Jet Airways' new fares

    The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
    Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | Home |

    Copyright 2003, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line