Launched in October 1993, KPMF has Rs 805 crore under management in equity schemes, Rs 200 crore in income schemes, and the balance is in money-market schemes. Unlike most other mutual funds, a substantial part of the overall inflow into KPMF is for the equity schemes. Bluechip, Prima, Prima Plus and sector-specific funds like Infotech, FMCG, and Pharma are the equity schemes.

KPMF has many first to its credit. Apart from being the first private-sector mutual fund, it was first to offer a pension plan in the private sector. It was also the first to launch a sector-specific fund and the first to offer cheque-writing facility for its money-market mutual fund investors.

For the quarter ended September 1999, most equity schemes of KPMF have outperformed the market. Prima Fund, which invests in fast-growing mid- and small-cap shares, grew by 63.31 per cent in the second quarter, against a growth of 26.30 per cent in the S&P CNX 500 index. Since its inception in December 1993, it has offered a return of 18.13 per cent. Its NAV is Rs 24.84.

Bluchip Fund has posted a growth of 40.22 per cent, against the 13.59 per cent rise made by the benchmark Sensex. The NAV of the scheme, which has given a return of 31.12 per cent since its inception in December 1993, is Rs 38.07 for the growth plan and Rs 33.81 for the dividend plan.

Prima Plus, which invests in large- and mid-cap shares generating a high return on capital, has achieved a 45.94 per cent growth for the second quarter. Its NAV stands at Rs 20.87.

KPMF was one of the early players in the industry to identify information technology (IT) as a thrust area. Almost all its equity schemes have substantial presence in the IT sector. Its Infotech Fund registered a growth of 84.47 per cent last quarter, and its NAV stands at Rs 36.47. The scheme has posted a 250 per cent growth since its inception in August 1998.

Its other sector-specific funds, Pharma and FMCG, have also recorded significant growth. Their NAVs are Rs 13.94 and Rs 12.85 respectively.