The mutual funds industry, while sounding optimistic over the macro view, is slightly dejected. They
were looking out for a strong movement by the government to step up investment by leveraging
public savings.
"At the moment overseas investors dominate the market movement, both the direction and velocity.
And the government had a chance to change it in the current announcement, but has refrained from
doing it," says a morose fund manager. The industry, which was reeling under redemption pressure
in September and October 2008, was just about getting its bearings back.
Asset under management grew to Rs 6.7 lakh crore in June, a growth of around 4.9% over the
previous month. However, the market regulator Securities and Exchange Board of India (Sebi) had,
in June 2009, made sweeping changes in the operational aspects of the industry.
Source: http://in.biz.yahoo.com/090706/50/batugf.html
were looking out for a strong movement by the government to step up investment by leveraging
public savings.
"At the moment overseas investors dominate the market movement, both the direction and velocity.
And the government had a chance to change it in the current announcement, but has refrained from
doing it," says a morose fund manager. The industry, which was reeling under redemption pressure
in September and October 2008, was just about getting its bearings back.
Asset under management grew to Rs 6.7 lakh crore in June, a growth of around 4.9% over the
previous month. However, the market regulator Securities and Exchange Board of India (Sebi) had,
in June 2009, made sweeping changes in the operational aspects of the industry.
Source: http://in.biz.yahoo.com/090706/50/batugf.html
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