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Bangalore: In the week ended October 02, 2009, 'UTI Growth Sector Fund - Pharma and Healthcare' topped the list of mutual fund schemes. The value of UTI scheme went up by 6.30 percent with the net asset value (NAV) of Rs.26.46. Lalit Nambiar is the Fund Manager of this open ended scheme, which had a market size of 55.32 as on August 31, 2009. Some of the key holdings of the fund are Sun Pharmaceuticals, Divis Laboratories, Glaxo Smithkline Pharmaceuticals, Cipla, Lupin and Dr Reddy's Laboratories.

The objective of the scheme to invest in companies engaged in the research, manufacture or marketing of OTC products, bulk drugs and formulations. According to mutualfundsindia.com, other funds which followed UTI Growth Sector Fund - Pharma and Healthcare in top list for the last week are Franklin Pharma Fund, which gained by 6.17 percent, Religare Fixed Maturity Plan - 375 Days - Series XVII by 7.34 percent and SBI Magnum Sector Umbrella - Pharma Fund by 4.60 percent.

Contrary to expectations that the revival in the equity market would have boosted the assets managed by mutual fund houses, nearly 58 percent of the 36 fund houses that have disclosed their average assets under management (AAUM) figures for September 2009, have seen a drop in assets compared with the previous month. According to the data released by the Association of the Mutual Fund Industry (Amfi), the total industry AAUM for September 2009 stands at Rs.7,42,919 crore against Rs.7,49,915 crore as on August 2009, registering a decline of about one percent since the previous month. This is the second instance of a month-on-month decline in mutual fund assets in 2009 so far, the earlier one being in March.