a newsletter of the association of mutual funds in india...

12
A Newsletter of the Association of Mutual Funds in India For private circulation only January - March 2005 Vol : IV. Issue : IV FROM THE CHAIRMAN’S DESK Fiscal 2004-05 gone by, was a year with a difference for the mutual fund industry. It was the year in which the largest number of new schemes – 97 in all, were launched in a single year. This was a record. The amount mobilised by the new schemes at over Rs. 25,000 crores was also a new record. The gross amount garnered was as high as about Rs. 8.40 lakh crores – up by 42 percent over the year. But what is indeed discouraging, is the fact that the net accretion at only Rs. 2,154 crores was the lowest in the last five years. This was mainly due to the net outflow of over Rs. 14,000 crores from the Income Funds and Rs. 1,345 crores from Gilt Funds coupled with a substantially lower net inflow of Liquid Funds (Rs. 10,347 crores as against Rs. 24,577 crores last year). Inspite of 36 new equity schemes mobilising Rs. 11,756 crores, ten times more than in the previous year, the net mobilisation under equity schemes was only Rs. 7,247 crores, lower than in the previous year. May be, this is a temporary phenomenon reflecting the market realities and the scenario might change in the years to come. Yet, isn’t this a situation that needs to be analysed, lessons learnt and suitable measures taken ? Well, the industry has a challenge before it – a challenge to reach out to retail investors and to position the mutual fund products as a long term investment avenue for the household sector. This is an ongoing task, that we all have to undertake in a sustained manner. We extend our warm and cordial welcome to Mr. M. Damodaran, IAS, who has been appointed as Chairman of SEBI. We look forward to his guidance and support. Yours, A.P.Kurian Chairman May 5, 2005

Upload: lamnhu

Post on 27-Mar-2018

223 views

Category:

Documents


7 download

TRANSCRIPT

Page 1: A Newsletter of the Association of Mutual Funds in India ...portal.amfiindia.com/spages/aqu-vol4-issueIV.pdf · A Newsletter of the Association of Mutual Funds in India ... was a

A Newsletter of the Associat ion of Mutual Funds in India

For private circulation only

January - March 2005 Vol : IV. Issue : IV

FROM THE CHAIRMAN’S DESK

Fiscal 2004-05 gone by, was a year with a difference for the mutual fund industry. It wasthe year in which the largest number of new schemes – 97 in all, were launched in asingle year. This was a record. The amount mobilised by the new schemes at overRs. 25,000 crores was also a new record. The gross amount garnered was as high asabout Rs. 8.40 lakh crores – up by 42 percent over the year. But what is indeeddiscouraging, is the fact that the net accretion at only Rs. 2,154 crores was the lowest inthe last five years.

This was mainly due to the net outflow of over Rs. 14,000 crores from the Income Fundsand Rs. 1,345 crores from Gilt Funds coupled with a substantially lower net inflow ofLiquid Funds (Rs. 10,347 crores as against Rs. 24,577 crores last year). Inspite of 36new equity schemes mobilising Rs. 11,756 crores, ten times more than in the previousyear, the net mobilisation under equity schemes was only Rs. 7,247 crores, lower thanin the previous year. May be, this is a temporary phenomenon reflecting the marketrealities and the scenario might change in the years to come. Yet, isn’t this a situationthat needs to be analysed, lessons learnt and suitable measures taken ? Well, theindustry has a challenge before it – a challenge to reach out to retail investors and toposition the mutual fund products as a long term investment avenue for the householdsector. This is an ongoing task, that we all have to undertake in a sustained manner.

We extend our warm and cordial welcome to Mr. M. Damodaran, IAS, who has beenappointed as Chairman of SEBI. We look forward to his guidance and support.Yours,

A.P.KurianChairman

May 5, 2005

Page 2: A Newsletter of the Association of Mutual Funds in India ...portal.amfiindia.com/spages/aqu-vol4-issueIV.pdf · A Newsletter of the Association of Mutual Funds in India ... was a

SEBI UPDATE

Circulars issued by SEBI.

Compliance Test Report (CTR)

Circular number SEBI/IMD/CIR/No.11/36222/2005 dated March 16, 2005.

SEBI has advised that the CTR from theFinancial Year 2005-06 be submitted bythe AMCs to SEBI on a bi-monthly basis(instead of on a quarterly basis) so as toreach SEBI within 21 days of thecompletion of the two month period.

WELCOME TO MR. MDAMODARAN, CHAIRMAN SEBI

AMFI welcomes Mr. M Damodaran whohas been appointed as Chairman of SEBIfrom February 18, 2005. We look forwardto his guidance and support.

We place on record our appreciation andgratitude to Mr. G N Bajpai for the supportand encouragement he has given to theIndustry during his tenure.

SEBI ADVISORY COMMITTEE ONMUTUAL FUNDS

The Eighteenth Meeting of the SEBIAdvisory Committee on Mutual Fundswas held on March 28, 2005.

MEETING WITH CHAIRMAN SEBI

Chairman and members of the AMFIBoard met Mr. M Damodaran, ChairmanSEBI on March 4, 2005 to review thedevelopments in the Mutual FundIndustry.

MEETING WITH RBI

Mr. Milind Barve, Director AMFIrepresented AMFI in the meeting of thesub committee of the RBI StandingTechnical Committee which reviewed theprudential guidelines on non- SLRinvestments – treatment of Mutual Funds.

MEETING WITH MR. JEANNOTKRECKE AND MR. ROBERT

HOFFMANN OF LUXEMBOURG

AMFI had organised a meeting ofMr. Jeannot Krecke, Hon. Minister of theEconomy & Foreign Trade ofLuxembourg and Mr. Robert Hoffmann,Director General, LuxembourgInvestment Funds Association (ALFI),with Mr. R H Patil, Chairman UTI MutualFund and Mr. S B Mathur, Administratorof the Specified Undertaking of Unit Trustof India and senior executives of UTIMutual Fund. A detailed presentation onIndian Economy, developments in theIndian Mutual Fund Industry and UTIMutual Fund was made by the UTI team.Earlier, Mr. Hoffman also met withChairman AMFI, Mr. S Nagnath, CEODSP MF and Mr. Krishnamurthy Vijayan,CEO JM Financial Mutual Fund.Mr. Hoffman also spent half a day at theIndian Institute of Capital Markets.

The Luxembourg team held a seminar on‘Luxembourg Financial Centre : a worldof expertise and innovation’ on March 31,2005 at Mumbai, which was attended byChairman AMFI and representatives fromthe Mutual Fund Industry.

Page 3: A Newsletter of the Association of Mutual Funds in India ...portal.amfiindia.com/spages/aqu-vol4-issueIV.pdf · A Newsletter of the Association of Mutual Funds in India ... was a

GENERAL MEMBERSHIPMEETINGS

A General Membership meeting of AMFIMembers was held on March 2, 2005 todiscuss the Budget Proposals withspecial reference to their implications onthe Mutual Fund Industry. Tax ConsultantMr. Kanu Doshi and Mr. Sailesh Seth,Consultant on Service Tax were presentto clarify the implications of theBudgetary Proposals.

On April 26, 2005 a GeneralMembership meeting of AMFI Memberswas held to discuss and finalise themanner and procedure to be adopted bythe Industry for monitoring the limit of 25%in regard to the 20/25 rule. The meetingalso discussed matters relating to theimplementation of the Service Taxprovisions.

COMMITTEES/WORKING GROUPS

The report of the AMFI Committee onRisk Management headed by Mr. AlokVajpeyi formerly of DSP MF, givingcertain recommendations to mitigatedifficulties experienced by the Funds inimplementing the guidelines, as well asthe report of the Committee on MutualFunds investing in CommodityDerivatives, chaired by Mr. Sanjiv Shahof Benchmark Mutual Fund, have beenpresented to SEBI.

Also, the reports of AMFI working groupson Capital Guaranteed Products chairedby Mr. Naval Bir Kumar of Standard

Chartered MF and AdvertisementGuidelines headed by Mr. Ajay Bagga ofKotak MF have been submitted to SEBI.

A working group on suggestions foramendments to the Securities andExchange Board of India Act 1992 wasconstituted. Mr. Lalit Vermani of BirlaSunlife MF was the Convener andMr. Raju Nanwani of SBI MF and Mr. S LManjrekar of Canbank MF were itsmembers. Based on the feedbackreceived from the members the groupfinalised its recommendations and thesame were presented to SEBI.

The working group on IndustryClassification headed by Mr. SanjayPrakash of HSBC, reviewed the industryclassification along with India IndexServices Ltd. (IISL) a joint venture ofCRISIL and NSE. The revised Industryclassification list has been sent to allmembers for implementation effectivefrom March 2005.

NEW COMMITTEES ANDWORKING GROUPS

Working group on Equity MutualFund Index : AMFI has constituted aworking group to study and formulate anappropriate Equity Mutual Fund Index tobenchmark the performance of equitymutual fund schemes. Mr. SaurabSonthalia of DSP is the Convener of thegroup and Mr. A Balasubramanian ofBirla, Mr. A K Sridhar of UTI Mutual Fund,Mr. Pankaj Razdan of Prudential ICICI,Mr. Sandeep Singh of Franklin

Page 4: A Newsletter of the Association of Mutual Funds in India ...portal.amfiindia.com/spages/aqu-vol4-issueIV.pdf · A Newsletter of the Association of Mutual Funds in India ... was a

Templeton, Mr. Vijay Mantri of HDFC andMr. D Thyagarajan Director – FinancialRatings of CRISIL Ltd. are its members.

Working group on Service Tax : AMFIhad constituted a working group to studythe provisions of Service Tax rules andformulate the procedural guidelines to beuniformly followed by all members.

Mr. Lalit Vermani of Birla Sunlife MutualFund was the Convener and Mr. JimmyPatel of JM, Ms. Pranita Gramopadhyeof Franklin Templeton, Mr. RakeshVengayil of ABN AMRO and Mr. RiteshJain of Principal Pnb were the members.The group was assisted by the TaxConsultant Mr. Shailesh P Seth.Appropriate guidelines based on therecommendations of the group havesince been issued.

Working group on Direct TaxProposals : A working group to study theimplications of the Direct Tax Proposalsof the Union Budget was constituted soonafter the introduction of the Finance Billwith Mr. Ajay Bagga of Kotak asConvener. The other members wereMs. Ashu Suyash of Fidelity, Mr. RajeshBhojani of UTI Mutual Fund,Mr. Ranganath Athreya of Prudential ICICIand Mr. Saurabh Sonthalia of DSP andour Tax Consultant Mr. Kanu Doshi.Based on the recommendations of thegroup, proposals have since beenpresented to the Government.

AMFI ON OTHER COMMITTEES

Chairman AMFI has been nominated as

member on SEBI constituted Committeefor examining issues relating to obtainingUnique Identification Number (UIN) underSEBI (Central Database of MarketParticipants) Regulations. TheCommittee is headed by Mr. JagdishCapoor, Chairman HDFC Bank. Theother members are Mr. C B Bhave,Chairman & MD, NSDL, Ms.DeenaMehta, Director Securities IndustryAssociation of India, Mr. A K Narayan,President Tamil Nadu Investors’Association and Mr. Prithvi Haldea, MDPrime Database.

Chairman AMFI has also beennominated as a member on theCommittee on Gold Exchange TradedFunds (GETFs) constituted by SEBI.Mr. Madhukar, whole time member SEBIis the Chairman of the Committee. Theother members are Mr. Ajay Shah,Consultant Ministry of Finance andMr. H Bhattacharya, Chief GeneralManager RBI. Mr. S C Das, ExecutiveDirector SEBI, is the member secretary.

INVESTOR AWARNESSPROGRAMMES

Chairman AMFI was a panelist at theRetail Investor Forum organised by theEconomic Times at Ahmedabad onFebruary 19, 2005.

Chairman AMFI delivered the keynoteaddress at an Investors AwarenessProgramme organised jointly by AMFIand Wise Intermediary Services Pvt. Ltd.at Bangalore on February 24, 2005.

Page 5: A Newsletter of the Association of Mutual Funds in India ...portal.amfiindia.com/spages/aqu-vol4-issueIV.pdf · A Newsletter of the Association of Mutual Funds in India ... was a

Chairman AMFI addressed an InvestorAwareness meeting organised byMalayala Manorama and the NationalStock Exchange, at Thiruvalla, Kerala onApril 9, 2005.

During the quarter the members haveconducted around 550 investorawareness / investor meet programmesat 175 places.

CONFERENCES AND SEMINARS

Xth Asia Oceania Regional Meeting(AORM)

The Xth Asia Oceania Regional Meetingof International Investment FundAssociations in the Asia Oceania regionwas held at Manila, Philippines fromMarch 7 to 11, 2005. Chairman AMFIalongwith Mr. Amitabh Chaturvedi ofReliance Mutual Fund, Mr. DebashishMohanty of UTI Mutual Fund and Mr. VedPrakash Chaturvedi of Tata Mutual Fundparticipated in the meeting. ChairmanAMFI made a presentation on the Growthand Development of the Indian MutualFund Industry.

A Conference on ‘Developing AlternateChannels for Financial ProductsDistribution & Customer Service’organised by Infor-Media India, was heldat Taj Lands End Mumbai, on April 7-8,2005. Chairman AMFI delivered thekeynote address at the conference. Mr.Pankaj Razdan of Prudential ICICI alsoaddressed the conference.

WELCOME TO OUR NEW MEMBER

AMFI extends its greetings andwelcomes Fidelity Mutual Fund as itsmember.

AMFI CERTIFICATION ANDREGISTRATION PROGRAMME

During the quarter 1,648 candidateshave passed the online test at the NSEcenters and 2,283 were successful in thewritten test held across 42 cities. As atthe end of March 2005, 49,872candidates have successfully cleared thetest. Out of this 30,028 agent distributorshave registered with AMFI. The detailsof the AMFI registered Mutual FundAgent Distributors are available on theAMFI website.

AMFI REFRESHER COURSE

Members are aware that agentdistributors who are exempted from theCertification Test are required to attenda refresher course offered by AMFI. Thecourse is conducted by Indian Institute ofCapital Markets. So far 1420 such agentdistributors have attended the coursewhich has been mainly organised by UTIMutual Fund.

All other members are requestedto advise their exempted agentdistributors to attend the refresher coursein order to comply with SEBI Circular no.SEBI/IMD/CIR no.2/254/04 datedFebruary 4, 2004.

Page 6: A Newsletter of the Association of Mutual Funds in India ...portal.amfiindia.com/spages/aqu-vol4-issueIV.pdf · A Newsletter of the Association of Mutual Funds in India ... was a

MUTUAL FUND INDUSTRY

A) Fourth quarter January – March2005 – Tables 1 to 4

� 32 new Schemes were launched inthe quarter and a sum of Rs.12,822crores was mobilsed - Rs. 4,702crores under Income Schemes andRs. 8,120 crores under EquitySchemes. (Table 2.1)

� Total Funds mobilised for the quarterstood at Rs. 2,20,907 crores asagainst Rs. 1,67,820 crores for thecorresponding quarter last yearrepresenting an increase of 32 %.(Table 2.3)

� Redemptions at Rs. 2,23,037 croreswere 33 % higher than theredemptions of Rs. 1,67,326 croresin the corresponding quarter lastyear. (Table 3 )

� Thus on a net basis, there was anout flow of Rs. 2,130 crores ascompared with a net inflow of Rs 494crores in the corresponding quarterlast year. (Table 3)

� Data on Fund of Funds is given inTable 4.

B) Annual Data April 2004 – March2005 – Tables 5 to 8

� 97 new Schemes were launchedduring the year as against 46 in theprevious year. The amount mobilisedby these schemes was Rs. 25,764

crores as against Rs. 8,549 in theprevious year. (Table 5.1)

� Total Funds mobilised during theyear stood at Rs. 8,39,662 croresas against Rs. 5,90,190 crores in thelast year representing an increaseof 42 %. (Table 5.2)

� Redemptions at Rs. 8,37,508 croreswere 54 % higher than theredemptions of Rs. 5,43,381 croresin the previous year. (Table 5.3)

� Thus on a net basis, there was aninflow of Rs. 2,154 crores ascompared to Rs. 46,809 crores inthe last year. (Table 5.3)

� The Assets Under Management ason March 31, 2005 stood atRs.1,49,554 crores as againstRs.1,39,616 crores as at the end ofthe previous year, registering amoderate increase of 7 % over theyear.

� Data on Fund of Funds is given inTable 6.

� Table 7 gives the Type and Categorywise composition of the AssetsUnder Management.

� Table 8 gives data on Assets UnderManagement for each of the AssetManagement Companies.

Page 7: A Newsletter of the Association of Mutual Funds in India ...portal.amfiindia.com/spages/aqu-vol4-issueIV.pdf · A Newsletter of the Association of Mutual Funds in India ... was a

MUTUAL FUND DATA FOR THE QUARTER JANUARY - MARCH 2005

�������������������������������������������������������������������������������� ��������

������������������������ ��������������������������

��������������������������� �����

������ �!��

�"��#���$ "��#��% �� �& ����� �'#'��� (� ����� �'#'��� (� �)���

���*�#���+ ��*�#�� ,��� �*� �-� �� .//0 ,��� �*� �-� �� .//0 �����1'����� �������* 1'����� �������* 2��/2�/3

��� �#�'�� �#�'�� .//3 .//3

� ������������

� � �������������

�����������

����������� ��� ��� ����� � �!�� ! ���" ����" #���� ��"�"

� � ��$���!� # !�� ������ ��� "� "���"� ������ �#��� ##�" �

��� "� ������ ���! # �!���! #�� �"

�������� 4 � 2 �5/23 .65223 .7526/ 8/5009 .65�29 8.509/ .85�/2

�75/37 09599� �952/. 025�72 .75/73

� ���������������#� � �� #��!� #��!� �#�� ����" �����! !� �

����� #����� ��#!� ������ ��"!�

% �������%��

� � ���������� � �� "� � "��!�! ����#! #�#��#� "���#! #!�� � ! ��"

!����� ��!� " !���� �!!��!� �����"

� � ������������� � !���# !��""� � ���! �"����� !���"! �"����� ! ��!�

����������������� !����# �� �"�" !����! �#��#� !!���!

���������!�

� � ������������� � !���� ���#�� ������ !!��� � �!�!� !!"�� � ""��"#

����������� �"�!"� #!�� !� ��� �� #������ "�����

&��'����� �

������ �� 4 4 � .7 ��5978 �675��� �7857// 62950�9 �8/5829 6.75793 ��6500�

�0.5792 3.�592. �025676 07/50/. �/0588.

)��������� 2. �.57.. ./75/73 ../58/6 728599. ..25/26 72653/7 �085330

�4�4�� �9657./ 38/5�8/ �9652.9 302527� �2859�9

�����:

� �()(� *� +,-. * -/(0�1� 23/43� *56734)� )-� ,3. * -/8

# 9��/0:��3;��423<3*�;23,3� (00-)<3/)� *� 4-<+3)3=8

! ��%-/*3>53/)� )-� )23� 42(/?3� /� )23� *2(,3� 2-0= /?� +())3,/� -@� ���� &5/=*��(/(?3<3/)� �)=8� )� 2(*� 633/� ,340(** @ 3=� (*��(/A�+-/*-,3=� � �- /)� �3/)5,3*� �� �,3=-< /(/)0:� �/= (/8

� & ?5,3*� /���=3/-)3� @ ?5,3*� @-,�4-,,3*+-/= /?�+3, -=�-@� 0(*)�:3(,8

����)�;

Page 8: A Newsletter of the Association of Mutual Funds in India ...portal.amfiindia.com/spages/aqu-vol4-issueIV.pdf · A Newsletter of the Association of Mutual Funds in India ... was a

.���<���$���*�#�����'��*�!������#������#-����!� ��� ��������

�������.

������� ��)�����1 ����=�� �;��������.//3����;�����������)�;�>���

�+3/�/= %0-*3�/= �����

�-8-@��423<3* �<-5/) �-8-@��423<3* �<-5/) ����,���*�#�� �#�'��

��%�� � #�� �� ����! �8 056/.

'�B�$ �! ���# � � �2 75�./

�����%� � � � � � �

��C����D���������� � � � � � �

'��� � �� � � � �

��� �� � � � � �

����� �0 750/8 �7 050�2 2. �.57..

.�.��% �� �&���*�#�� ��� ��������

�+3/�/= %0-*3�/= �����

�-8-@��423<3* �<-5/) �-8-@��423<3* �<-5/) ����,���*�#�� �#�'��

��%�� �! !���#" � �E�!�� � ��0/ 0�56.9

'�B�$ �!� ����� # � �27 95686

�����%� !� ��� � � 23 709

��C����D���������� !� �"����" � � 28 �365663

'��� ! �" � � 2/ 73/

��� # �� �� � 26 8�

����� 278 ./05870 2/ 25�/� 0�8 ./75/73

.�2��������,�������*�#�� ��� ��������

�+3/�/= %0-*3�/= �����

�-8-@��423<3* �<-5/) �-8-@��423<3* �<-5/) ����,���*�#�� �#�'��

��%�� �!� !����� #� ��"�� �38 0950.7

'�B�$ ��� ������ # � �3� �058�6

�����%� !� ��� � � 23 709

��C����D���������� !� �"����" � � 28 �365663

'��� ! �" � � 2/ 73/

��� # �� �� � 26 8�

����� 0/2 .�25282 07 653�0 03� ../58/6

�-)3*F�23�42(/?3� /�/5<63,�-@�3G *) /?�*423<3*� *�634(5*3�-@� )23�<()5, ):�(/=�,340(** @ 4() -/�-@�*-<3�-@� )23�3G *) /?�*423<3*8E��<-5/)�<-6 0 *3=�6:�/3;�+0(/*� 0(5/423=�5/=3,�3G *) /?�*423<3

<��>�������� :

��������� ������ : ���& G3=��()5, ):��0(/�C��"

���������������� : �-)(A�&����3, 3*�������� ,0(�& G3=��3,<��0(/��3, 3*� H�I� ��'��:*:(�& G3=��()5, ):�&5/=��3, 3*� ����', /=0(:*�& G3=��()5, ):��0(/��)2��0(/��', /=0(:*�& G3=�()5, ):��0(/��)2��0(/��%(/@0-() /?�()3�&5/=���-)(A�&����3, 3*� �����1� ����30 (/43�& G3=��()5, ):�&5/=��3, 3*� ���()(�& G3=�$-, J-/�&5/=��3, 3*� ���� ,0(& G3=� �3,<��0(/� �3, 3*� H�I�1� H%I�� �35)*423� & G3=� �3,<� &5/=�� ��'��:*:(� & G3=��()5, ):� &5/=� ����� �,5=3/) (0� �%�%�� �0(/� ��� ', /=0(:*� & G3=��()5, ):� �)2�0(/� (/=�', /=0(:*� & G3=��()5, ):� � )2� � �0(/

����� ����)�>�� : %2-0(��50) 4(+�&5/=���(2(,(�� =4(+�&5/=���-)(A�� =4(+��30 (/43� �/=3G�&5/=���5/=(,(<������&5/=���(?/5<�� =4(+�&5/=��%(/3<3,? /?�>5 ) 3*���%� �++-, )5/ ) 3*� &5/=�� ��� >5 ):� �3, .() .3� &5/=�30 (/43� >5 ):� �++5, )5/ ) 3*� &5/=�� $�&%� �,3< 3,��50) �%(+� &5/=�� &,(/A0 /� �/= (� &03G � %(+� &5/=(/=� �, /4 +(0� &-45**3=� �=.(/)(?3� &5/=8

Page 9: A Newsletter of the Association of Mutual Funds in India ...portal.amfiindia.com/spages/aqu-vol4-issueIV.pdf · A Newsletter of the Association of Mutual Funds in India ... was a

��������2

����������?��� ������� ��)�����1 ����=�� �;��������.//3

��� ��������

�+3/�/= %0-*3�/= ����� ���� ��,��$?

�'�,��$�

��%�� �!�!"� !�"�� 09582/ 3/.�

'�B�$ � �� � " �/50/9 053��

�����%� ��� # � �5�/. .39�

��C���D��������� ��!�!!� � �925226 3539.�

'��� ����� � �5�7� 22��

��� !� �! 7� �/

����� .�850�2 259.0 ..25/26 .5�2/�

��������0

��������" ����"�" ����=�� �;��������.//3

��� ��������

�-8�-@��423<3* �(03* 3=3<+) -/* ������� �!��

����&�#���������2��/2�.//3

"'�!��,�"'�!� <��. <�.8/ 26� 87/

�-)3F �� &5/=�-@�&5/=*� *�(�*423<3�;23,3 /� )23�(**3)*�(,3� /.3*)3=� /� )23�3G *) /?�*423<3*�-@�<5)5(0� @5/=*�(/=�23/43�� )23� @ ?5,3* /= 4()3=�23,3 /�(,3� /405=3=� /�)(603*���)-�!�(/=��8��()(�-/�&5/=�-@�&5/=*� *�? .3/�@-,� /@-,<() -/�-/0:8

#� K��/405=3*��3;��423<3����-)(A��:/(< 4�&5/=�-@�&5/=*

3�����$���*�#�����'��*�!�!'� �&��*��@������!�!�����*�2�5�.//3 ��� ��������

�������3

��� �������

�+3/�/= %0-*3�/= �����

�-8-@� �423<3* �<-5/) �-8-@� �423<3* �<-5/) ����,� ��*�#�� �#�'��

��%�� #� ��" #" "��#� 3. �/5�.7

#� "���� # �� .8 95//7

'�B�$ !� ����"� � � 29 ��5639

� ����� � � �/ �5�90

�����%� � ��� � � 0 969

# � � � � . �/8

��C����D���������� " !�# � � � 3 25./0

! ���#� � � 2 �5�.0

'��� � �� � � � �

# ��� � � . �00

��� �� � � � � �

� � � � � �

����� 6. ./5�29 .3 359.7 86 .35690

00 75238 . �8/ 09 75308

& ?5,3*� /���=3/-)3�+,3. -5*�:3(,� @ ?5,3*8

Page 10: A Newsletter of the Association of Mutual Funds in India ...portal.amfiindia.com/spages/aqu-vol4-issueIV.pdf · A Newsletter of the Association of Mutual Funds in India ... was a

3�.�������������!'� �&��*��@������!�!�����*�2�5�.//3 ��� ��������

�+3/�/= %0-*3�/= �����

�-8-@� �423<3* �<-5/) �-8-@� �423<3* �<-5/) ����,� ��*�#�� �#�'��

��%�� �!� �!�� �" #� ���� � �38 �3356�8

�# �� �##� �� #��� �2� �6.5828

'�B�$ ��� !�� �� # � �3� 265/68

�#� #����# # � �.9 .9590.

�����%� !� !��"" � � 23 25633

!� #�"#! ! � 26 .53.2

��C����D���������� !� �!��"�� � � 28 9275380

!� !�"���� � � 29 2635909

'��� ! ��!�� � � 2/ 0529�

! �#�!�� � � 2/ �.5276

��� # �"� �� � 26 �30

�� "! #� � 02 32

����� 0/2 7.�5837 07 �656/0 03� 728599.

292 376507/ 0/ .56�/ 0/2 38/5�8/

3�2��������!�#-� ����!'� �&��*��@������!�!�����*�2�5�.//3 ��� ��������

�+3/�/= %0-*3�/= �**5,3=�3)5,/ ����� ���� ��,��$�?

�'�,��$�

�<-5/) �<-5/) �<-5/) �#�'��

��%�� �"���!� ����#� � �985893 �05.09�

�"���!� ����� � �9/5�00 �.5683

'�B�$ #���# �# � .8572. 65.06

������ �� � �75837 65970

�����%� !�#"" �"" � 250�/ 203

#�" � !# � .5329 �2�

��C����D���������� �#��#�� � � 9.75.06 �/5206

!"�� �� � � 23�5/98 .05366

'��� "�� � � � 356/9 �5203�

� ��"" � � �/5�33 .5.2.

��� ��# #!� � 207 �80�

# ! !�� � 3�8 099�

����� 7.35869 ��532. � 72653/7 .5�30

30�5009 �58.3 �/ 302527� 0957/8

& ?5,3*� /���=3/-)3�+,3. -5*�:3(,� @ ?5,3*8

Page 11: A Newsletter of the Association of Mutual Funds in India ...portal.amfiindia.com/spages/aqu-vol4-issueIV.pdf · A Newsletter of the Association of Mutual Funds in India ... was a

��

��������9��������" ����"�" ����"������;�������������5�.//3

��� ��������

�����,���*�#�� ����� �!�#-� ��� ������� �!������&�#���

��� ��� 2��/2�.//3

"'�!��,�"'�!� �. �5326 �5286 87/

�-)3F &5/=�-@�&5/=*� *�(�*423<3�;23,3 /�)23�(**3)*�(,3� /.3*)3=� /�)23�3G *) /?�*423<3*�-@�<5)5(0�@5/=*�(/=�23/43��)23�@ ?5,3*� /= 4()3=23,3 /�(,3� /405=3=� /� )(603*�"���1��8��()(�-/�&5/=�-@�&5/=*� *�? .3/� @-,� /@-,<() -/�-/0:8

��������6������� ��������)�����������������2�5�.//3

�;�����������)�;�>��� ��� ��������

�-�����! ��������! ����� A���������

��%�� !��� � ����� 0659/3 2.

� ��"� ���� 9.53.0 03

'�B�$ !"� � ���"� 2956�� .3

##��"� ���"� .259�2 �6

�����%� ����! � � 05796 2

!�#�� ��� 05/7/ 2

��C���D��������� "�� �� � 305/97 29

���� � � 0�56/0 2/

'��� ��"�� � 05369 2

�� #� � 95/.9 0

��� � � �� �� �56.6 �

��� ���� �5998 �

����� �265872 ��536� �085330 �//

�2053.2 35/82 �2859�9 �//

& ?5,3*� /���=3/-)3�+,3. -5*�:3(,� @ ?5,3*8

Page 12: A Newsletter of the Association of Mutual Funds in India ...portal.amfiindia.com/spages/aqu-vol4-issueIV.pdf · A Newsletter of the Association of Mutual Funds in India ... was a

��

��������7

������� ��������)����������������� 2�5.//3

��� ��������

���� ��� ��#���,��*������������&�#������#-��@ ������� �!�������&�#���

� ���B���������

� =�����C��� ��� �� �����������;� ������

� ���� &5/=*��(/(?3<3/)� �)=8 ��"�"

��������� � 95383

�����

� � �����**3)��(/(?3<3/)� %-8� �)=8 ��"

# %(/6(/A� �/.3*)<3/)��(/(?3<3/)� �3,. 43*� �)=8 ���#!

! ���� �**3)��(/(?3<3/)� %-<+(/:��.)8� �)= # ���

�������� � ..53/7

�������� 4 � .85�/2

� ������ �����

� '�%��**3)��(/(?3<3/)� %-8� �)=8 �#

# �33.(/� � <(��(2(:-?��**3)��(/(?3<3/)� %-8� �)=8 #���

������� 25/�/

� ��C���������

� ������

� �3/42<(,A� �**3)��(/(?3<3/)� %-8� �.)8� �)=8 ���

# %2-0(<(/=(0(<��**3)��(/(?3<3/)� %-8� �)=8 �� #�

! %,3= )� %(+ )(0� �**3)��(/(?3<3/)� %-8� �)=8 ���

� *4-, )*� �**3)��(/(?3<3/)� �)=8 �!�

" �8�8� & /(/4 (0� �**3)��(/(?3<3/)� �.)8� �)=8 �� ��

� �-)(A��(2 /=,(� �**3)��(/(?3<3/)� %-8� �)=8 ���"#

� 30 (/43�%(+ )(0� �**3)��(/(?3<3/)� �)=8 ��"�!

� �(2(,(� �**3)��(/(?3<3/)� %-8� �.)8� �)=8 #!�

� �5/=(,(<� ��**3)��(/(?3<3/)�%-<+(/:� �)=8 ����

� �()(� � �**3)��(/(?3<3/)� �, .()3� �)=8 �����

�������� � 2/563/

� =�����C��� ��� �� �����������;� ������

� � ,0(� �5/� � @3��**3)��(/(?3<3/)�%-8� �)=8 � �!�!

# �����3,, 00� �:/42� &5/=��(/(?3,*� �)=8 "�" #

! $�&%��**3)��(/(?3<3/)�%-8� �)=8 ������

�������� � 2/5728

� =�����C��� ��� �� �����������;�"���)�

� ���������**3)��(/(?3<3/)� ��/= (�� �)=8 �#!

# �00 (/43�%(+ )(0� �**3)��(/(?3<3/)� ��/= (�� �.)8� �)=8 ��# �

! �35)*423� �**3)��(/(?3<3/)� ��/= (�� �.)8� �)=8 �����

� &,(/A0 /� �3<+03)-/� �**3)��(/(?3<3/)� ��/= (�� �.)� �)=8 �"�!"�

" $��%��**3)��(/(?3<3/)� ��/= (�� �, .()3� �)=8 ��#��

� ��'� �/.3*)<3/)��(/(?3<3/)� ��/= (�� �.)8� �)=8 �����

� �-,?(/� �)(/03:� �/.3*)<3/)��(/(?3<3/)� �.)8� �)=8 ��"��

� �, /4 +(0� �/6��**3)��(/(?3<3/)� %-8�.)8� �)= "�"#�

� �,5=3/) (0� �%�%�� �**3)��(/(?3<3/)�%-8� �)=8 �"����

� �)(/=(,=�%2(,)3,3=� �**3)��?<)�%-8� �.)8� �)=8 ����!

�������� � 33573.

������ �� 4 4 � ��6500�

������ �4�4�� �085330

����� �� ����,��'�'���"'�!�� �� ��! �

� ���&,33��,3**�$-5*3��&,33��,3**��-5,/(0��(,?���(, <(/��- /)���5<6( �� � #��308F�"�!��!� ��D�"�!��!� ��D�##�!���!��D�##�!���!�8�&(GF�##�!����"�<( 0� F� (<@ �6-<"8.*/08/3)8 /� � � �B36* )3� F� 2))+FD;;;8(<@ /= (84-<

����������, /)3=�6:�� 0.3,+- /)��,3**��.)8��)=8