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Strategies & Market Trends : India Coffee House -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (6010)	8/27/1999 8:14:00 PM
From: JPR	Read Replies (2) \| Respond to of 12475

Mohan: There is travel story on Tamil nadu and Kerala right now on the TRAVEL CHANNEL. jpr

To: Mohan Marette who wrote (6010)	8/27/1999 8:41:00 PM
From: Mohan Marette	Respond to of 12475

Mutual Fund News-Alliance Mutual Fund assets cross Rs 1,000 cr Aabhas Pandya -------------------------------------------------------------------------------- New Delhi, Aug 27: Assets under management at Alliance Mutual Fund have crossed Rs 1,000 crore. Alliance Capital is the third asset management to break through the Rs 1,000 crore barrier after Birla Sun Life and Prudential-ICICI asset management companies. While Birla has assets of close to Rs 2,000 crore, Prudential is not far behind with funds under management close to Rs 1,600 crore. The open-end income scheme from Alliance Capital, Alliance Liquid Income is the top grosser with assets of Rs 530 crore. The fund is witnessing healthy inflows with assets under management rising from Rs 332.63 crore on June 30 to current levels. The open-end monthly income plan, which was launched in July this year, has assets of Rs 100 crore. The third scheme in the debt category is the short-term debt fund, Alliance Cash Manager. Alliance Liquid Income, which has given a return of 12.6 per cent since inception (as on June 30, 1999) has a 59 per cent exposure to AAA paper while 24 per cent is invested in AAinstruments. The portfolio has an average maturity profile of 2.2 years. The fund has paid a total dividend of 24.6 per cent since inception. Alliance Capital AMC currently manages six funds including a balanced fund and an open-end equity-linked savings scheme. The top performing balanced fund for the three year period, Alliance '95 has seen assets under management spurt from Rs 150 crore in June to Rs 225 crore. The NAV of the fund has seen a gain of over 27 per cent to Rs 36.30. The fund has a equity exposure of over 65 per cent with the rest invested in debt instruments. The fund has the highest sectoral exposure to information technology at 19.4 per cent (worth Rs 29.17 crore as on June 30, 1999). The current bull run has buoyed the NAV of Alliance Equity Fund from Rs 16 on June 30 to Rs 22.27 on August 25, which translates into a gain of over 37 per cent in less than 2 months. Assets under the scheme have vaulted to Rs 130 crore from Rs 77 crore in the same period. Smart gains coupled with highservice standards have seen investments pouring into mutual funds, especially those from the private sector. The mutual funds have attracted a record Rs 8762 crore in the first quarter of the current fiscal, as per figures compiled by the Association of Mutual Funds of India (Amfi). However, the share of UTI in the mobilisation pie is beginning to shrink. On the other hand, private sector players have emerged stronger and have garnered Rs 4273 crore or 49 per cent of the total collections in the first quarter of fiscal 2000. The sector's contribution to the total collections in FY 1998 was 37 per cent (or Rs 796 crore).