Among the stocks that have seen the largest cut by MFs, the DVR shares (shares with differential voting rights) of Tata Motors have seen a cut of 243 basis points (bps) in MFs' stake.
Increase in surcharge will adversely impact fund managers planning to shift to India. As a matter of fact several fund professionals based in India could also relocate to other jurisdictions, resulting in a brain drain.
Equity flows have been under pressure since the second half of 2018, after the IL&FS crisis sent shockwaves in both equity and debt markets.
The PMS manager can only charge performance fee to investors if the fund has crossed its highest value as on the day when the fee is supposed to be charged.
Sebi pointed out instances of misleading the investors by reporting incorrect data on investor complaints, instances of inappropriate utilisation of funds meant for investor education, such as spending on programmes meant for financial advisors, charging of expenses to the said funds for stationery items such as notebooks, planners and calendars, and charging of expenses without adequate records.
Mutual fund houses hold Rs 3,400 crore of Yes Bank's 'riskier' bonds. Reliance MF, Franklin Templeton MF and UTI MF account for bulk of these exposures.
In the past few months, 45 companies have signalled their intent to raise money through the institutional placement route.
If one compares returns, the two public-sector ETFs have done better over the past year, but the ELSS category has done better over the trailing three and five years.
'Equities are likely to be range-bound with a downward bias for the remaining part of the year.'
NBFCs are mainly dependent on funding their operation from their own cash flows.
Fund managers's compensation is largely tied to the assets they manage and scheme performance.
Experts say that despite the sizeable client base, PMS providers lag their domestic MF counterparts by quite a distance, when it comes to reporting and disclosure standards.
Nearly three-fourths of the debt money, as of April 30, 2019, was invested in securities with duration of less than three years.
These investors are not only betting on little-known stocks, but also sectors that the market participants are not paying much heed to. Some of these stocks can be potential multi-baggers, while others may not live up to the expectations of these stock-pickers, says Jash Kriplani.
In April, the inflows into equity schemes dropped 60% compared to the previous month to Rs 4,608 crore, the lowest since Sept 2016.
Rakesh Jhunjhunwala sounded another note of caution on the nature of the latest bull run.
'The variables to watch include the monsoon, resolution of NBFC liquidity issues, GST collections, and NPA resolution.'
Experts say a combination of improving asset quality and NBFCs' weak balance-sheets bodes well for both corporate and retail banks.
As share of cash volumes in trading mix sees decline, it will result in moderation of profitability from core broking operations.
Jhunjhunwala increases stake in DHFL, luggage maker VIP Industries and pharma major Lupin but is cautious on auto holding. At the end of the March quarter, Jhunjhunwala held positions in 29 firms.
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