Corporates are foraying into portfolio management services, with biggies like Reliance Money, Bharti Axa, Tata Capital and others taking the plunge.
Although West Asian investors have been active in India for long using private banks such as UBS, Credit Suisse and Morgan Stanley that invested across emerging markets, post-9/11, the US has been falling out of favour as investors count the risk that assets in the country could be targeted over security concerns.
Fund houses ape peers' products to lure investors. Popular themes are banked on to attract investors' attention.
VCFs plan to disinvest their IT holdings to ITeS firms and gain from local markets
While the benchmark Sensex recorded 38 per cent gains during 2007, shares of most brokerage houses more than doubled (Geojit Financial increased by 130.68 per cent, while Almondz Global Securities rose 113 per cent) this year.
In spite of a curb on P-notes and markets being generally volatile throughout November, IPOs have bucked the trend by most of them getting listed at a premium. It seems that FIIs have entered more aggressively into primary market after this move.
With the AIM (Alternative Investment Market) becoming increasingly popular as a fund raising destination, Indian companies are flocking to tap the opportunity provided by this sub-market of the LSE.
Sixty out of 154 mutual funds have underperformed their benchmarks by over 30 per cent
The new entrants into the Indian mutual fund industry are making big strides through a plethora of new fund offerings and fixed income schemes as they grow their assets under management at a fast pace. Fund house Lotus Asset Management Company, which was launched just a year ago, has seen its assets grow from Rs 6,385.86 crore (Rs 63.85 billion) to Rs 8,142.93 crore (Rs 81.42 billion) in October, a steep rise of 27.5 per cent.
This comes on the back of impressive performance in infrastructure stocks in 2006 and in the first seven months of this calendar.
Lower price-earnings ratio, big IPOs attract players.
Fund managers said they were now waiting for first-quarter results of IT firms, which begin with Infosys Technologies next Wednesday (July 11), to decide their investment strategy for the sector.
The global funds are gung-ho about the prospects of India's real estate sector and have committed billions of dollars, but the Indian mutual funds are treading cautiously.
The domestic mutual funds such as Reliance Mutual Fund and Tata Asset Management Company are in advanced talks with global fund houses and investment advisors, in an attempt to offer global investment products to their Indian investors.
After a plethora of mergers and acquisitions, domestic firms are finding the European island a suitable place to set up subsidiaries to carry out global buyouts.
The Indian mutual fund industry's assets under management race from Rs 3 trillion to Rs 4 trillion has come in just nine months.
India's biggest realty firm, DLF is betting on special economic zones (SEZs). The zones will cover an area of 26,100 acres and the company expects to take control of the land in the next two years.
Indian bourses are likely to benefit from higher foreign fund flows as cracks appeared in the Chinese stock markets after the government tripled the tax on securities transactions to cool a rally.
Raghavendra Kamath and Ashutosh Joshi spoke to Kushal Pal Singh on the growth of Indian realty story and issues surrounding it.
Systematic investment plans, through which mutual fund investors put a fixed sum into MF schemes, are proving to be engines of growth for fund houses with the number of SIP investors growing nearly three times since last year.
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