Standard Chartered Mutual Fund is one of the fastest-growing mutual funds in the country. Although less than two years old, the fund house already boasts Rs 4,000 crore in assets under management, spread across five funds. It currently focuses only on debt products. And all of them have performed well. In the twelve months to July 31, 2002, the Grindlays Super Saver Income Fund investment plan, with a corpus of about Rs 2,100 crore, delivered 13 per cent in returns and ranked No 19 among the 31 open-ended medium-term income funds. Its short-term plan, with around Rs 900 crore in assets, returned eight per cent and secured top spot in its category.
Naval Bir Kumar, managing director, gives his views on the state of the mutual fund industry, StanChart