Top 10 mutual fund houses bag 78% equity assets in 2012, HDFC MF leads
Ashley Coutinho: Mumbai, Feb 27 2013, 10:55 IST
seen a significant growth in their equity assets just by virtue of the rally in the equity market and because of a larger equity asset base,” said the CEO of a small fund house. The Sensex gained more than 26% in the calendar year 2012.
Last year saw outflows of over R14,000 crore in equity schemes as investors booked small profits or made good their losses. “These outflows have hurt the bigger fund houses as well, and not just the smaller ones,” said Chatterji.
Another CEO of a small fund house pointed out that the distribution and marketing muscle of the bigger fund houses has worked in their favour.
The mutual fund industry has been struggling ever since entry loads were done away with in August 2009. Equity schemes have seen inflows in only thirteen months after the entry load ban was enforced.
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