According to AMC's estimates, Rs 400 crore has flown in the New MillenniumFund while the rest has gone to Basic Industries and Buy India Fund. Thefund attracted over 80,000 applications across the country. After thecollection of over Rs 600 crore in the sectoral series, the assets undermanagement at Alliance Mutual Fund will cross the Rs 3,000-crore mark. TheAMC will, thus, join Prudential, Birla and SBI AMCs in the Rs 3,000-croreplus group. ``Finally, performance is driving mobilisation and it isapparently visible in the huge collection in the Alliance series,'' said anindustry analyst. The AMC had charged a 2 per cent entry load on investmentsmade in the three funds.

The New Milliennium Fund, with its focus on technology and technologydependent companies, has cornered the lion's share with over 65 per cent ofthe total mobilisations.While Alliance Basic Industries Fund will invest inthe cyclical sectors, Alliance Buy India Fund is dedicated to sectors likefood, beverages, personal care, retailing, hotels and media.

In the last fortnight, the two technology funds from Alliance and Kotharihave mopped up close to Rs 750 crore. Kothari garnered the money in its ITfund, where it had declared a bonus of 1:1 and a 60 per cent dividend, withthe record date on January 12. Market participants say a number of investorswho failed to get subscriptions in the recently concluded IT IPOs haverouted money through mutual funds. ``There is an enormous appetite fortechnology stocks and funds among investors. With no limitation onsubscription in mutual funds, , investors are assured of a piece ofaction,'' says an analyst.