| |
The
mutual fund industry has also experienced considerable
activity over last few years with the total assets
under management growing from Rs 1,396,160 million
as of March 31, 2004 to Rs 2,318,620 million as
of March 31, 2006 and to Rs. 3,235,980 million
as of December 30, 2006. In recent years, the
industry has witnessed consolidation in favour
of private sector mutual funds with their assets
under management growing from Rs. 1,049,920 million
as of March 31, 2004 to Rs. 2,567,240 million
as of December 2006. Most of the funds that dominate
the sector are open-ended funds. |
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The
mutual fund sector can broadly be divided based
on the nature of the schemes launched by the mutual
funds. The fixed income asset class, which comprises
income, liquid, gilt and money market schemes,
comprises a major share of total funds under management.
The other two asset classes – equity and
balanced schemes – have experienced significant
growth in 2004 and during 2005 on account of the
buoyant stock market. |
