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Thursday, November 4, 1999

Canbank MF net assets improve

ENS ECONOMIC BUREAU  
MUMBAI, NOV 3: DespiteE a fall in corpus of the Canbank Mutual Fund from Rs 1482.78 crore in September 1998 to Rs 1227.87 crore in September 1999, the net assets improved from Rs 1653.57 crore to Rs 1825.10 crore in the same period. During the half year ended September 1999, the fund converted four of its closed-ended schemes viz Canexpo. Canbonus, Canpep 93 and Cantiple into open ended schemes.

Out of the seven growth schemes, five schemes have outperformed the BSE Sensex and three schemes have outperformed CNX 500. All the open-ended schemes continued to show excellent performance. Canpep 93 has shown an improvement in net asset value to the extent of 42.60 per cent compared to the previous half year. Also, there was an income distribution of 12.5 per cent in this scheme during the year.

Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.


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