The total corpus (face value of units of the Tata Mutual Fund, under its nine open ended schemes, has increased by Rs 158 crore to Rs 692 crore during the first seven months of the fiscal 2000-01, with the Tata Income Fund garnering Rs 81 crore in the form of new subscriptions during this period.
The portfolio of the Income Fund under is regular income option comprises of 91.29 per cent in debt (with the highest concentration in ICICI at 8.62 per cent), followed by 5.89 per cent in net money market instruments and 2.82 per cent in equities at the end of September 2000.
During the one year ended September 2000, the growth in net asset value (NAV) of the scheme was 8.94 per cent. Tata Young Citizens' Fund scheme also witnessed a noticeable increase in its corpus. The size of the corpus increased by Rs 24 crore from Rs 28 crore during the same period. The scheme has invested 49 per cent in equities, 44 per cent in debt instruments and 7 per cent in others. There has been a growth of 9.23 per cent in NAV of the scheme during the year ended September 2000. However, the best performing scheme was Tata Pure Equity Fund during the one year period ended October 2000. The scheme recorded more than 40 per cent growth in its NAV against a decline in the Sensex by 16 per cent.