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Equity funds gain 31 pc in May; best in 17 years

Posted on: June 2nd 2009 in Market News.

MUMBAI: Actively-managed diversified stock funds in India posted their best monthly gain in 17 years with a majority beating the benchmark index in May, lifted by a sharper rally in their mid-cap and small-cap bets. Large exposure to basic engineering and financials, among their top-3 pr…

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Birla Sun Life posts fastest growth among mutual funds

Posted on: April 4th 2009 in Press Releases.

Birla Sun Life Mutual Fund became the fastest growing fund house in the country even as the industry as a whole posted de-growth last year, a top company official said.The Asset Under Management (AUM) of Birla Sun Life which was only Rs 20,000 crore as of March 07 went up to Rs 35,000 cro…

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FIIs net buyers of Rs 692cr in cash mkt today

Posted on: April 2nd 2009 in Press Releases.

Foreign institutional investors (FIIs) were net buyers of Rs 691.56 crore (provisional) today, according to data released by BSE.While FIIs made gross purchases of Rs 2,709.20 crore, gross sales totalled Rs 2,017.64 crore. …

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MF industry sees erosion of Rs 8,000 cr in March

Posted on: April 2nd 2009 in Press Releases.

The mutual fund industry witnessed a drop of nearly Rs 8,000 crore in its assets in March, plunging below the Rs 5,00,000-crore mark, even as 12 fund houses, including HDFC MF, saw an addition to their kitty. …

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MFs on a volcano; using short-term funds for long-term lending

Posted on: April 1st 2009 in Press Releases.

MUMBAI: Mutual funds industry is sitting on a volcano as 75-80 per cent of its assets are short-term while it resorts to long-term lending to corporates, creating an asset-liability mismatch. “This is a dangerous situation,” warns UTI MF’s Chairman, U K Sinha, highlighti…

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