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MUMBAI, Feb. 15

THE market share of the country's largest mutual fund, Unit Trust of India (UTI), in the over Rs 1 lakh crore mutual fund industry, has fallen below 50 per cent at the end of January 2002.

According to figures released by Association of Mutual Funds in India (AMFI), the total assets under the management of UTI were worth Rs 51,151 crore in January, out of a total of Rs 1,04,115 crore - a market share of 49.12 per cent.

Total assets under UTI's management stood at Rs 51,181 crore in December 2001 out of a total of Rs 1,01,822 crore, a market share of 50.26 per cent.

The market share of bank-sponsored funds increased to 3.91 per cent (3.85 per cent), with total assets under management worth Rs 4,073 crore and and that of institution funds to 4.5 per cent (4.38 per cent) with total assets managed at Rs 4,695 crore.

Among private sector funds, Indian funds held a market share of 5.7 per cent (5.79 per cent) with assets worth Rs 5,945 crore.

Joint venture funds, predominantly Indian, held 15.39 per cent (14.39 per cent) with assets worth Rs 16,024 crore, and joint ventures, predominantly foreign, held 21.34 per cent (20.76 per cent) with assets worth Rs 22,227 crore.

Meanwhile, net inflows into the mutual industry fell sharply by 83.5 per cent at Rs 373 crore in January, compared to Rs 2,272 crore in December 2001.

This fall is mainly on account of an increase in UTI redemptions at Rs 1,134 crore during the month.

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UTI market share dips below 50 pc in Jan

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