Corporate, banks dominate mutual fund assets - AMFI

Corporate, banks and foreign institutional investors collectively control more than half the assets of Indian mutual fund industry, data compiled by the Association of Mutual Funds in India (AMFI) show.
The first ever break-up of investor class released by the trade body shows retail and high networth individuals held 1.8 trillion rupees worth of mutual funds or just over 43 percent of the industry's 4.2 trillion rupees assets at the end of March.
Fixed income funds, which contributed 70 percent to the industry's assets, is dominated by the non-retail investors. They controlled nearly three quarters of the 2.9 trillion rupees assets of fixed income funds that include money market funds.
Retail and high networth individuals were the main investors of equity funds that managed 1.1 trillion rupees at the end of March, the data shows.
AMFI plans to release the data every six months, a trade body official said.

Source: http://in.reuters.com/article/businessNews/idINIndia-40107020090605?sp=true