Assets under the management of PSU funds have come down from Rs 78,365 crore in January to Rs 71,252 crore in September, while their private sector counterparts have posted a 13 per cent growth over the same period.

PSU Bank sponsored schemes were the major losers of investor confidence in the first nine months. The total assets under their management have dipped to Rs 97,462 crore in September 2000, against Rs 1,01,565 crore in January 2000. Bank sponsored schemes - six in all - were the major losers in terms of assets under their management by 52.49 per cent during the first nine months, sliding from Rs 8,039 crore to Rs 3,819 crore, according to figures compiled by Association of Mutual Funds of India (AMFI).

Major gainers during the period were joint venture MFs, predominantly foreign, with their assets under management going up by 23.63 per cent, rising from Rs 11,228 crore in January to Rs 13,881 crore in September 2000. During the nine months, these funds have added one more scheme to their portfolio taking the total to ten.

Another major gainers of investor confidence during the period were Indian private sector funds with 29.55 per cent growth in their assets from Rs 2,677 crore in January to Rs 3,468 crore after nine months.

However, from their low assets of Rs 2331 crore in March 2000, the rise in assets of private MFs went up by nearly 49 per cent by September. Schemes sponsored by other financial institutions and public sector MF behemoth Unit Trust of India were also found to be losers during the period with 8.49 per cent and 3.91 per cent, respectively, to Rs 2,912 crore and Rs 64,521 crore in September 2000. However, UTI was still managing a lions share of the assets of mutual funds industry at 66.2 per cent. The only losers among the private sector groups were joint venture funds, predominantly Indian, with a fall in assets by five per cent from Rs 9,295 crore in January to Rs 8,861 crore in September.