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Bangalore: In the week ended October 30, 2009, 'Religare Gilt Fund - Long Duration Plan' tops the mutual fund scheme. The value of Religare Gilt Fund went up by 2.29 percent with the net asset value (NAV) of Rs.9.78. Ashish Nigam is the Fund Manager of this open ended scheme, which had a market size of Rs.12.88 crore as on September 30, 2009.

The objective of the scheme is to generate optimal returns by investing in a portfolio of securities issued and guaranteed by Central and State government. The fund may utilize derivatives as permitted by regulations in order to achieve its objective. According to mutualfundsindia.com, other funds which followed Religare Gilt Fund in top list for the last week are ICICI Prudential Income Opportunities Fund, Birla Sun Life Gilt Plus PF Plan and ICICI Prudential Gilt Fund Investment Plan with a growth rate of 1.91, 1.05 and 0.97 percent respectively.

In the last week, total money market mutual fund assets fell by $2.27 billion to $3.37 trillion. Assets of the nation's retail money market mutual funds fell by $7.4 billion to $1.096 trillion. Assets of taxable money market funds in the retail category fell by $5.75 billion to $856.69 billion. Retail tax-exempt fund assets fell by $1.66 billion to $239.69 billion.