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Mutual funds mop-up 72 pc jump in May 2006

Written by: Staff
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New Delhi, July 23: Mutual fund mobilisation went up by an impressive 72 per cent at Rs 35,827 crore during May 2006 as compared to Rs 20,828 crore in the previous month.

Interestingly, the total amount raised by mutual funds for May 2005 witnessed a steep decline of 61.5 per cent at Rs 5,378 crore from Rs 13,969 crore in April 2005.

This year, the private sector continued to dominate the resource mobilisation drive in May 2006 at Rs 30,113 crore, followed by UTI mutual fund at Rs 4,030 crore and other public sector mutual funds at Rs 1,684 crore.

During April-May 2006, the total amount raised by all mutual funds was Rs 56,655 crore, of which, the private sector's share stood at 86.3 per cent to Rs 48,915 crore. The UTI mutual fund and other public sector mutual funds also mobilised Rs 3,820 crore and Rs 3,921 crore, respectively during the same period, according to figures compiled by SEBI.

Of the total amount mobilised so far, debt funds accounted for Rs 24,962 crore or 69.7 per cent, followed by growth/equity funds Rs 10,719 crore or 29.9 per cent.

The cumulative assets under management by all mutual funds rose by 7.3 per cent to Rs 2,76,343 crore by the end of May 2006 from Rs 2,57,499 crore a month ago.

UNI

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