| Fund | (Rs cr) |
| Tata Mutual | 700 |
| Kotak Mutual Mid-Cap | 570 |
| Reliance Diversified Power Sector | 415 |
| Tata Dividend Yield | 414 |
| HDFC Core & Satellite | 400 |
| Principal Dividend Yield | 350 |
| ABN Amro Equity | 350 |
| Reliance Pharma | 147 |
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| The Templeton Flexi Cap Fund received more than 200,000 applications. Fund managers said this (interest) was testimony to the fact that the small investor was taking to equity and increasingly using the mutual fund route. |
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| Templeton Asset Management India president Ravi Mehrotra said in a statement: "The fact that the fund attracted so many investors reflects the growing recognition of the long-term potential of equities given the strong fundamentals on the economic and corporate fronts." |
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| The fund's flexibility in terms of investing across market cap ranges will help investors capitalise on such opportunities thrown up by the growing economy, he added. |
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| Some of the biggest equity fund IPOs in 2004 were the Tata Dividend Yield Fund (Rs 414 crore), the Principal Dividend Yield Fund (Rs 350 crore), the HDFC Core & Satellite Fund (Rs 400 crore), the ABN Amro Equity Fund (Rs 350 crore), the Reliance Pharma Fund (Rs 147 crore) and the Reliance Diversified Power Sector Fund (Rs 415 crore). |
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| Six thematic funds from the UTI mutual fund stable collectively garnered Rs 310 crore and Kotak Global India raised Rs 344 crore in 2004, according to data from MutualfundsIndia.com. |
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| Smita Vernani, AVP at IDBI Capital Market Services said: "The buoyancy in the equity market has attracted many small investors to equity mutual funds, especially from the smaller cities and towns. IPOs are particularly attractive because of the positioning and the 'perceived' benefits of owning units at par. Besides, a few mutual funds have also launched IPOs with no front-end load structures to attract small investors." |
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| The year 2004 was a good year for equity funds. More than 30 mutual fund houses floated IPOs for equity plans, collecting more than Rs 4,000 crore. |
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| Despite this huge fresh inflow, mutual funds were net sellers in the equity market in 2004. |
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| Marketmen say that this was the outcome of redemption pressure from older investors and the funds themselves churning their portfolios, and that, in the larger picture, this is a healthy sign. |
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| Besides, some older investors were also re-investing their redeemed money in mutual fund IPOs, players add. |
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