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Despite muted growth, Mutual Funds bullish on global equity funds

Even though international equity funds are not doing well compared to their domestic counterparts, fund houses are still bullish on such products and have aggressive plans to launch more global equity products going forward.

 
 
HDFC Mutual Fund has retained its position as the most profitable fund house in 2014-15, with a profit after tax (PAT) of Rs 416 crore.
As per the existing norms, a fund manager who is managing a domestic scheme, is allowed to manage an offshore fund, subject to three specific conditions.
In fact, MFs' assets under management (AUMs) hit a record Rs 12.02 lakh crore in February itself.
According to Sebi data on investor accounts with 44 fund houses, the number of equity folios jumped to 3.17 crore last month from 2.92 crore a year earlier.
 
 
Mutual fund houses are upbeat about overall inflows in equities and debt markets for the current financial year (2015-16) as well.
It allows even the smallest investor or a corporate or a trust to invest even for one night in liquid funds anywhere in India.
According to the latest Sebi data, mutual fund (MF) managers invested a net sum of Rs 7,618 crore in April this year.
The total SIP count of the industry rose to 73.05 lakh at the end of March this year from 62.10 lakh last year, as per the latest data.
Retail investor accounts continued to account for 96 per cent of the total folio base of 4.17 crore as of the March quarter.
Trading platforms, BSE Star MF and NSE MFSS, have collectively witnessed an increase in orders at 19,66,901 in 2014-15 from 8,19,388 in the preceding financial year.
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