Only 10 per cent of stocks account for 93 per cent of investments.
Top officials said asking employees other than the fund management team to mandatorily invest a fifth of their salary goes against the principle of natural justice.
The government has been in discussions to promote such international financial services centres within India as alternatives to places like Singapore.
Discussions are said to have been heating up over how long a tax indemnity clause, which is part of such deals, should run, according to multiple people familiar with the matter.
Equity flows turning positive could give fund managers firepower to invest in the markets. This could come in handy as flows from foreign investors have tapered off amid rising bond yields in the US.
Industry players say improving the penetration beyond the top centres will require setting up more branch networks and empanelment of distributors.
Stocks mutual funds had invested in had risen almost to pre-pandemic levels in March.
Asset-weighted returns of large cap funds lagged their benchmark by 273 basis points, ELSS funds by 318 bps and mid- and small-cap funds by 230 bps.
An additional factor spurring the FMP launches is MFs' desire to retain investors as many such offerings are set to mature over the next two months.
Any speculation suggesting otherwise, or any rumours around sale of our business in India are incorrect and simply that -- rumours, says head of the US-based asset manager.
Sources said SBI Funds Management will distribute the proceeds to unitholders following liquidation of some securities held under the scheme.
'Money that came into mutual funds near the previous peaks -- the second half of 2017 and 2018 -- has in most cases experienced unflattering returns.' 'A large proportion of redemptions could be such inflows exiting when the market recovered sharply from July 2020 onwards.'
This year is set to be the third consecutive year when India's share of IPOs has fallen relative to the rest of the world.
The Securities and Exchange Board of India (Sebi) on Monday relaxed the norms for valuing perpetual bonds. The norms, which had sought to value banks' deemed residual maturity of Basel III additional tier 1 (AT1) bonds as 100-year debt from April 1, were strongly opposed by the finance ministry. In a statement released on Monday, the regulator said the maturity would be 10 years until March 31, 2022, and would be increased to 20 and 30 years over the subsequent six-month period.
Close-ended equity funds, launched with fanfare three years ago, have disappointed investors with their dull returns. The data from Value Research shows 10 out of 17 close-ended schemes maturing before July have seen one-year returns between 34 and 40 per cent. In comparison, the Sensex Total Return Index (TRI) has rallied 46 per cent over the past one year.
Senior officials in the MF industry say while the finance ministry and regulators communicate regularly, this is one of the very few instances in many years where an issue between the two has come out into the open.
Lawyers say compensation may be an uphill task for investors because of a lack of judicial precedent and broader institutional difficulties.
The ED case follows the police complaint for alleged criminal conspiracy and defrauding investors.
Companies providing portfolio management services (PMS) had a tough time beating the benchmark index in January, with more than half of the schemes invested in large companies underperforming in the run-up to the Union Budget. The Nifty 50 index was down 2.5 per cent during the month. Only around 44 per cent of PMS schemes did better, among the schemes investing in large-cap companies. The analysis is based on data from industry tracker PMS Bazaar. Half the mid-cap schemes outperformed, while the rest underperformed.
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