MF Assets Jump 76% In 2003-04

When compared to the AUM figures of March 31, 2003, it is seen that the growth in AUM was mainly on the back of equity-dedicated schemes that saw a growth of close to 106 per cent from Rs 14,256 crore to Rs 29,326 crore.

Rajat Jain, chief investment officer, Principal Mutual Fund, said, “We can attribute the growth of the total corpus of mutual funds to the inflows we witnessed in equity-dedicated schemes in the last fiscal. The interesting phenomenon was that while the markets started booming in April and May 2003, fund houses saw inflows in equity schemes from June itself.”

He said this is an indication that the Indian investor prefers the MF route rather than taking the plunge himself. Further, even conservative investors of debt preferred to taste a slice of equity through schemes like monthly income plans (MIPs), leading to the success of such hybrid funds in the last fiscal, he added.

While mutual fund investors went gung-ho on equity-dedicated schemes, their debt counterparts were not neglected altogether. Debt-dedicated schemes posted a growth of 69 per cent in the fiscal from Rs 65,208 crore to Rs 1,10,254 crore.

Figures posted on the Amfi website also show that in the equity category, the AUM of growth

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