Mutual Funds AUM Report - AUM up by 7.32%

06 May 2008 | 11:21 AUM up by 7.32%

Assets under management (AUM) registered an impressive rise of 7.32% to Rs 5.67 lakh crore in April 2008 compared with Rs 5.28 lakh crore in March 2008. AUM of fund of funds (FoFs) was Rs 3759.02 crore in April 2008. It has been the highest monthly gain in AUM since October 2007.

Of the 33 mutual funds 26 registered a rise in AUM in April 2008 over March 2008 and rest 7 showed a decline in their AUM. There were 17 fund houses with AUM above Rs 10000 crore. Fifteen of them had a net inflow in April 2008 compared with March 2008.

The top three funds witnessing a rise in the AUM included Mirae Mutual Fund (95.18%), Canara Robeco Mutual Fund (30.35%) and AIG Global Investment Group Mutual Fund (21.71%). Reliance Mutual Fund continued its run as the largest fund house with Rs 96386.40 crore of AUM in April 2008 a rise of 5.99% over March 2008. It registered net inflow of Rs 5448.46 crore in April 2008 over March 2008. AUM of ICICI Prudential Mutual Fund was at Rs 55708.52 crore in April 2008 a rise of 2.55% in AUM over March 2008 continued to be at the second position.

AUM of UTI Mutual Fund increased by 7.28% whereas AUM of HDFC Mutual Fund increased by 15.63% in April 2008 over March 2008. Occupying the third and fourth slots, AUM of UTI Mutual Fund and HDFC Mutual Fund were Rs 52549.40 crore and Rs 51770.81 crore, respectively. Both the fund houses were in the third and fourth positions in March 2008.

The other top mutual funds, in terms of AUM, were Birla Sun Life Mutual Fund (Rs 39489.22 crore), SBI Mutual Fund (Rs 30394.73 crore) and Franklin Templeton Mutual Fund (Rs 28631.63 crore) in April 2008. The assets of Birla Sun Life Mutual Fund increased by 9.98% in April 2008 whereas Franklin Templeton Mutual Fund showed an increase of 6.67%.

HDFC Mutual Fund recorded the highest inflow of Rs 6997.65 crore in April 2008 followed by Reliance Mutual Fund with a net inflow of Rs 5448.46 crore. Occupying the third and fourth slots, Birla Sun Life Mutual Fund and UTI Mutual Fund recorded the highest inflow Rs 3583.18 crore and Rs 3566.59 crore, respectively.

Deutsche Mutual Fund recorded the second highest net outflow of Rs 794.77 crore in April 2008, after JM Financial Mutual Fund, which secured its top position with an outflow of Rs 864.86 crore, followed by Benchmark Mutual Fund and ING Vysya Mutual Fund, with a net outflow of Rs 378.42 crore and Rs 138.33 crore, respectively.

AUM of mutual fund in April 2008*

MUTUAL FUND NAME	AUM (Rs CR) April 2008	AUM (Rs CR) March 2008	CHANGE (RS CR)	VAR (%)
ABN AMRO MF	6328.67	6400.38	-71.71	-1.12
AIG Global Investment Group MF	3811.17	3131.27	679.90	21.71
Benchmark MF	2941.55	3319.97	-378.42	-11.40
Birla Sun Life Mutual fund	39489.22	35906.04	3583.18	9.98
BOB Mutual Fund	70.55	72.39	-1.84	-2.54
Canara Robeco Mutual Fund	3721.63	2855.06	866.57	30.35
Chola Mutual Fund	2310.92	2371.99	-61.07	-2.57
Deutsche Mutual Fund	12116.79	12911.56	-794.77	-6.16
DSP Merrill Lynch Mutual Fund	18164.49	16675.47	1489.02	8.93
Escorts Mutual Fund	151.63	143.33	8.30	5.79
Fidelity Mutual Fund	8485.02	8358.86	126.16	1.51
Franklin Templeton Mutual Fund	28631.63	26842.22	1789.41	6.67
HDFC Mutual Fund	51770.81	44773.16	6997.65	15.63
HSBC Mutual Fund	16864.97	14888.20	1976.77	13.28
ICICI Prudential Mutual Fund	55708.52	54321.87	1386.65	2.55
ING Vysya Mutual Fund	8469.96	8608.29	-138.33	-1.61
JM Financial Mutual Fund	12079.88	12944.74	-864.86	-6.68
JP Morgan Mutual Fund	2451.09	2170.99	280.10	12.90
Kotak Mahindra Mutual Fund	20091.86	18070.62	2021.24	11.19
LIC Mutual Fund	16134.25	14056.16	2078.09	14.78
Lotus India Mutual Fund	7957.02	7925.23	31.79	0.40
Mirae Mutual Fund	2160.95	1107.13	1053.82	95.18
Morgan Stanley Mutual Fund	3309.22	3205.01	104.21	3.25
PRINCIPAL Mutual Fund	14880.93	13207.30	1673.63	12.67
Quantum Mutual Fund	67.03	63.53	3.50	5.51
Reliance Mutual Fund	96386.40	90937.94	5448.46	5.99
Sahara Mutual Fund	187.62	178.70	8.92	4.99
SBI Mutual Fund	30394.73	29178.96	1215.77	4.17
Standard Chartered Mutual Fund	13617.50	12733.48	884.02	6.94
Sundaram Mutual Fund	13619.44	12563.70	1055.74	8.40
Tata Mutual Fund	22348.47	19678.93	2669.54	13.57
Taurus Mutual Fund	328.50	320.16	8.34	2.60
UTI Mutual Fund	52549.40	48982.81	3566.59	7.28
Total	567601.82	528905.45	38696.37	7.32
*AUM pertains to 33 Mutual Funds Source: www.amfiindia.com

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Mutual Funds News - 06 May 2008

06 May 2008 | 10:59 HDFC MF declares dividend for Interval fund

HDFC Mutual Fund has approved the declaration of dividend under the HDFC Quarterly Interval Fund - Plan C -retail and wholesale plan. The record date for dividend is set as 9 May 2008. The AMC plans to distribute 100% of distributable surplus as on record date. The NAV for the schemes stood at Rs. 10.2234 on 2 May 2008

HDFC Quarterly Interval - Plan C is an open-ended interval income scheme with an objective to generate regular income through investments in debt / money market instruments and government securities.

06 May 2008 | 11:05 Birla Sun Life MF declares dividend

Birla Sun Life Mutual Fund (MF) announced to declare dividend, under the dividend option of Birla Sun Life Quarterly Interval Fund- Series 8.

The fund house fixed 8 May 2008 as the record date for the declaration of dividend. It will declare the entire distributable surplus available on the record date, as dividend.

Pursuant to payment of dividend, the NAV will fall to the extent of dividend payout and statutory levy, if applicable. The NAV of the dividend option of Birla Sun Life Quarterly Interval Fund- Series 8 stood at Rs 10.0935, as on 30 April 2008.

All unit holders registered on or before the record date will be eligible to receive the dividend.

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Edelweiss receives SEBI Approval to start Mutual Fund operations

06 May 2008 | 10:37 Edelweiss receives SEBI Approval to start Mutual Fund operations

Edelweiss Capital, one of Indias largest Integrated Investment Banks announced that it has received final regulatory approval from the Securities & Exchange Board of India (SEBI) to start its mutual fund business. Registration has been granted to Edelweiss Mutual Fund and approval has been granted for Edelweiss Asset Management Ltd. to act as investment manager to Edelweiss Mutual Fund.

Jimmy A. Patel, Chief Executive Officer, Edelweiss Asset Management Limited (EAML) said, The Indian mutual fund industry has been growing at a rapid pace of 47% year-on-year over the last five years. However, current penetration levels are just 3-4%, clearly indicating the vast untapped potential. With an increasing percentage of population moving towards a higher savings and investment mindset, opportunities exist to take advantage of this shift. We believe that the time is right for us to enter the market by offering innovative customer-specific solutions across the range of debt, arbitrage and equity products. Going ahead, we feel that the key drivers of the business will be customer reach and servicing, performance of funds and pedigree of the sponsor.

Rashesh Shah, Chairman, Edelweiss Group said, The plan to launch a mutual fund is in keeping with our long term strategy of building a diversified financial services company offering products and services across asset classes. Our vision is to become an innovative and universally renowned asset manager providing excellent investment solutions, exemplary services and setting the highest ethical standards.

Edelweiss Asset Management Ltd. plans to launch 8-9 products over the next 12 months. The product portfolio will include broad based equity funds, structured products, arbitrage funds, ETFs, and other innovative fixed income and equity funds in line with requirements of the market.

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Reliance MF Declares Dividend For Fixed Horizon Fund

03 May 2008 | 11:36 Reliance MF Declares Dividend For Fixed Horizon Fund

Reliance Mutual Fund has announced the declaration of dividend on the face value of Rs 10 per unit for Reliance Fixed Horizon Fund- III- Annual Plan -Series I under both retail and institutional plan. The record date is set as 8 May 2008.

The fund house has decided to distribute 100% of surplus available under both plans as on record date. The NAV for the scheme under retail plan was Rs. 10.1820 and that of under institutional plan was Rs. 10.1645 as on 30 April 2008.

Reliance Fixed Horizon Fund- III- Annual Plan -Series I is a close-ended income fund. The primary investment objective of the scheme is to seek to generate regular returns and growth of capital by investing in a diversified portfolio of central and state government securities and other fixed income/ debt securities normally maturing in line with the time profile of the series with the objective of limiting interest rate volatility

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Tata MF files offer document - Tata Fixed Horizon Fund Series 18

03 May 2008 | 11:02 Tata MF files offer document

Name of Fund: Tata Fixed Horizon Fund Series 18

Scheme: It is a close-ended debt scheme with 4 sub option of A, B, C, D with a maturity of 13 months from the date of allotment.

Objective: The investment objective of the schemes is to generate income and / or capital appreciation by investing in wide range of debt and money market instruments.

Plans: Each scheme has two plans regular plan and institutional plan and each plan has two options growth option and dividend option. The dividend option offers dividend payout or dividend re-investment facility.

Asset Allocation: The fund will invest up to 100% in debt and money market instruments and securitised debt. The investment in securitised debt will be up to 50% of the scheme.

Face Value: Rs 10

Entry Load: There will not be any entry load charged on sub option of the scheme.

Exit Load: Under scheme A and B there will be an exit load of 0.25% for the investment redemption made with in 1 month of allotment. There will not be any entry load for investment redeemed after 1 month.

Under scheme C and D there will be an exit load of 1% if the investment is redeemed on or before expiry of 13 months from the date of allotment.

Application Amount: The minimum application amount under regular plan is Rs 10,000 and in multiples of Re 1 thereafter. The minimum application amount under institutional plan is Rs 1 crore and in multiple of Re 1 thereafter.

Benchmark Index: Crisil Liquid Fund Index

Fund Manager: Mr. Raju Sharma

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Lotus India MF files offer document with Sebi

30 Apr 2008 | 11:56 Lotus India MF files offer document with Sebi
Name of Fund: Lotus India Fixed Maturity Plan 1 Month Series IX to XI

Scheme: It is a close-ended debt scheme.

Objective: The investment objective of the scheme is to seek to generate income by investing in a portfolio of debt and money market instruments normally maturing in line with the duration of the scheme.

Investment Options: Investors will have a choice of two options viz. growth option and dividend re-investment facility.Tenure of the schemes: 30 days from the date of allotment of the Scheme (including thedate of allotment).

Asset Allocation: The scheme will invest 0-85% in money market instruments including reverse repo. 0-50% in Government Securities issued by the Central Government and/or State Government (s). 15-100% in debt instruments such as bonds and debentures. 0-50% in securitized debt.

Investment in fixed income Derivatives Upto 50% of the net asset of the scheme. None of the schemes intend to invest in foreign securitised debt.

Face Value: Rs 10

Load structure: Entry load: Nil

Exit load: 0.25% if redeemed before maturity. Nil if redeemed on maturity.

Application Amount: The minimum application amount will be Rs.5,000 and in multiples of Re.1 thereafter.

Target Amount: Minimum target amount Rs. 1 crore.

Benchmark: Crisil Liquid Fund Index.

Fund Manager: Mr. Umesh Sharma.

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International Markets - US Market ends modestly lower

06 May 2008 | 08:49 US Market ends modestly lower

US Market ended today, Monday, 05 May, 2008 with modest losses. Crude prices closing a little shy of $120/barrel and Microsofts drop of bid for Yahoo were perhaps the main reasons for the negative momentum in the market. Eight of the ten economic sectors retreated with energy and material sector being the sole winners.

The Dow Jones industrial Average ended the day with a loss of 88.6 points at 12,969.4. The Nasdaq Composite Index, finished lower by 12.8 points at 2,464. S&P 500 finished lower by 6.4 points at 1,407.4.

Twenty-six out of thirty Dow components ended in the red today. General Motors, AIG and Bank of America were the main Dow winners. Alcoa was one of the four Dow winners.

Microsoft decided last Friday to not pursue the takeover of Yahoo after its raised offer of $33 per share (up $2) was once again rejected by Yahoo. Microsoft shares closed lower by 2% today while Yahoo shares dropped by a huge 15%.

The Institute of Supply management (ISM) nonmanufacturing index rose to 52% from 49.6% in March. The increase was unexpected. It topped the consensus estimate of 49.1. Since the number is above 50 it reflects the services sector expanded in April, albeit at a slow pace.

Among some merger related news, shares of Sprint Nextel went up following a Wall Street Journal report that indicated Deutsche Telekom is pondering an offer to acquire Sprint.

All Indian ADRs ended in the red today. VSNL and Patni Computers were the main laggards dropping 5% and 4.5% respectively.

Crude prices rose by more than $3 once again today. Price rose due to supply problems once again emerging at Nigeria. The weak dollar also pushed up the crude price today. Crude-oil futures for light sweet crude for June delivery closed at $119.97/barrel (higher by $3.65/barrel or 3.1%) on the New York Mercantile Exchange. In the past two sessions, crude prices have gone up by almost $7.

Nigeria's rebel group Movement for the Emancipation of the Niger Delta, MEND, attacked a Shell oil flow station in the south of the country last weekend. Shell is a unit of Royal Dutch Shell. In recent months, MEND has claimed responsibility for a series of attacks on oil facilities in the Niger Delta.

On the currency markets today, the U.S. dollar weakened even after a report from the Institute for Supply Management showed that nonmanufacturing sectors of the U.S. economy expanded during April after three months of contraction. The dollar index, which tracks the performance of the greenback against a basket of currencies, was down 0.4% to 73.19.

On the New York Stock Exchange, more than 3.3 billion shares changed hands, and declining stocks topped those advancing about 9 to 7. On the Nasdaq, nearly 2.1 billion issues were traded, and declining stocks surpassed those on the rise by 5 to 4.

For tomorrow, there are no major economic reports scheduled for release. DR Horton and Fannie Mae are among a few companies scheduled to report prior to tomorrow's open.

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