Corporates and high networth individuals have invested nearly Rs 4,190 crore (Rs 41.9 billion) in 134 mutual fund schemes, making up about 25 per cent of the total assets under management of these funds as on March 31, 2003.
According to the unaudited half-yearly financial reports of the schemes, 154 investors held 62 per cent of the total assets of Rs 6,776 crore (Rs 67.76 billion) spread across 134 debt and equity oriented schemes floated by 24 asset management companies.
Reliance Capital AMC, Prudential ICICI, Canbank Mutal Fund, Cholamandalam AMC and ING Investment Management seem to be the most preferred AMCs for large investors.
In Reliance Capital AMC, five such large investors have invested Rs 1,153 crore (Rs 11.53 billion) in its five schemes -- Reliance Liquid Super Cash Plan (91.88 per cent), Reliance Short Term Fund (73.61 per cent), Reliance Liquid Cash Plan (70.18 per cent), Reliance Medium Term Fund (64.67 per cent) and Reliance Liquid Treasury Plan (26.73 per cent).
Prudential ICICI has large investors in seven schemes. According to data, 10 investors have put in Rs 571 crore (Rs 5.71 billion), accounting for 82 per cent of the total corpus of Rs 700 crore (Rs 7 billion) in these schemes.
One large investor has put in Rs 500.23 crore (Rs 5 billion) in Prudential ICICI Floating Rate Plan.
In Canbank Mutual Fund, 13 investors have parked Rs 403 crore (Rs 4.03 billion) in 11 schemes, accounting for almost 60 per cent of the total assets of these schemes.
Within the Canara stable, Cangilt PGS, Cantriple and Cancigo were the schemes most preferred by the large investors.
Cholamandalam AMC has 16 such investors who have put in Rs 389 crore (Rs 3.89 billion) in 13 schemes, while in the case of ING Investment Management, eight large investors have subscribed Rs 293 crore (Rs 2.93 billion) in seven schemes.
As at the end of March 2003, seven large investors made a total investment of Rs 232 crore (Rs 2.32 billion) in IDBI-Principal's seven schemes, 15 investors put in Rs 189 crore (Rs 1.89 billion) in JM Mutual Fund's 12 schemes and six investors chipped in Rs 142 crore (Rs 1.42 billion) in Franklin Templeton's six schemes.
