Mutual Funds industry volume declines by 2.3 pc

Due to reluctance of investors, mutual funds industry saw decline of 2.3 percent in its volume. According to Investcap report, in September 2009, local mutual funds witnessed record increase up to Rs 236 billion as compared to Rs 199 billion in 2010. June recorded 3 percent decrease in the industry. During this period, volume of open-ended funds remained Rs 168 billion while close-ended funds were Rs 31 billion.