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Mutual funds profits up 6% y-o-y in FY13, but half of fund houses in red
The aggregate net profit for the mutual fund industry for FY13 grew nearly 6% over the previous year even as nearly half the number of fund houses in the MF universe posted losses.
Aggregate net profit for all fund houses (excluding Franklin Templeton MF and PPFAS MF) for FY13 grew 5.7% over the year-ago fiscal, data collated from Outlook Asia Capital show. However, the industry clocked a robust 22% growth in assets under management (AUM) — to R8.16 lakh crore — at the end of FY13 from R6.64 lakh crore in FY12.
"Assets have grown on the fixed-income side, which tend to make lesser money than equity assets. So, profits have grown at a smaller pace than asset growth," said Vicky Mehta, senior investment consultant, Morningstar India.
Overall, 22 fund houses posted losses, the same number as FY12. An analysis of 15 of the bottom-ranked AMCs in terms of the assets they manage shows that their consolidated net losses widened to R161 crore in FY13 from R144 crore in FY1...
Mutual fund exposure in bank stocks hits a record at Rs 1,05,018 crore
Mutual fund exposure in bank stocks hits a record at Rs 1,05,018 crore Mutual funds ramped up their allocation for bank stocks to a record high of nearly Rs 1,05,018 crore by Sep-end. Fund managers have been raising their allocation to banking since February. Prior to that, they had trimmed exposure to the sector between November and January due to higher bad loans. In percentage terms, exposure to banking stocks was at 20.82 per cent of equity AUM in Sep . Equity fund managers' deployment in pharma stocks stood at (Rs 38,420 crore) followed by finance (Rs 38,321 crore), software stocks (Rs 38,192 crore) and consumer non-durables (Rs 30,290 crore). Here is list of Equity Mutual fund's allocation in Different Sectors...!




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