On a daily basis, AMCs are required to disclose the Total Expense Ratio of all mutual fund schemes except infrastructure debt fund schemes on their respective websites.
NSE's Ramakrishna and ING Vysya Bank's Bhandari front runners for the post.
Peers describe Sanjay Sachdev, new chief executive officer of Tata Asset Management Company, as a man who can form alliances with ease.
"Fund houses look at merging schemes where there is a duplicity of content or if the scheme has been underperforming historically," says Aashish Somaiya, head (retail business), ICICI Prudential AMC.
T Row Price, the largest stakeholder in the UTI AMC, has threatened to pull out alleging that the ministry of finance is thrusting its own candidate as the CMD of the company.
Buying units of international feeder funds is no different from buying any mutual fund unit.
Radhika Gupta and Anant Jatia, start-up entrepreneurs, speak about the impetus for their unusual start up, that led them to switch countries and gamble on their futures. They also discuss what it takes to succeed with their unique business proposition, why they quit lucrative careers to start a company in India and their success mantras.
Rakesh Jhunjhunwala sounded another note of caution on the nature of the latest bull run.
The Supreme Court on Friday upheld the validity of e-voting process for the winding up of six mutual fund schemes of Franklin Templeton, and said disbursal of funds to unit holders will continue.
For the financial year 2011, profit after tax of Reliance MF stood at Rs 261 crore (Rs 2.61 billion), while that of HDFC MF was Rs 242 crore (Rs 2.42 billion).
'Kindling the private sector's animal spirits is more important than focusing on how government can give jobs on its own.'
'If the Union Budget can provide incentives for animal spirits to come as well as induce demand stimulus and consumption, the Budget would have done a wonderful job.'
Sources said that the Malaysian prime minister invited Ambani to invest in sectors like power, media and financial businesses.
Market regulator Sebi on Thursday asked mutual fund houses to disclose the details of investor complaints on websites, as well as in annual reports, to enable clients to make more informed decisions.
Exchanges will have to facilitate a more direct interface between clients and the clearing corporation, bypassing intermediaries such as brokers, under this new proposed framework.
Diversification is the key to achieve optimal risk-adjusted returns. Often, an investor is confused whilst deciding on the number of mutual funds you should consider holding in your portfolio.
Though the bailout package for Greece brought some cheer to the global markets, doubts remain about how long the party will last and the impact on domestic markets.
Franklin Templeton Mutual Fund, which has closed six debt schemes, has said the winding-up process will be delayed in the absence of authorisation from investors and further steps will be possible only after seeking fresh approval from them. It further said that investors who do not have an e-mail ID or mobile number registered with the fund house will not be able to participate in the voting process. The date on which the voting would start has not been disclosed yet.
The first phase of this online platform will be in place by March 2010
Gold fund of funds may not offer more than Exchange Traded ones
Ideally, one should opt for a 5 to to 10- year period in an MF scheme or exit when the goal is reached.
Punjab & Sind Bank plans to offer 5% each to top institutions
The restructuring of UTI, which started seven years ago when the country's oldest mutual fund failed to meet redemption obligations, is nearly complete.
A majority of fixed income investors expect the fiscal deficit to stay close to the government's target of 5.5 per cent or lower in the year to March 2011, according to a Fitch Ratings survey of money managers at asset management companies, life insurers, pension funds and banks.
Aditya Birla Nuvo is in talks with global private equity players Blackstone, Carlyle and KKR to sell shareholding in its proposed holding firm for its financial services business. The financial services holding company will house its asset management, insurance, stock broking, wealth management and private equity businesses.
This would allow Japanese companies to invest directly in India, rather than the current norm of coming through Singapore and Mauritius.
In the past 10 years, 141,000 women or 2.6 per cent of female workers in finance left the industry.
Advisory committee for lower charges, stricter compliance.
Nimesh Shah, managing director & CEO of ICICI Prudential Asset Management Company, tells Chandan Kishore Kant that he is bullish on the Indian market.
"There is a large workforce working as agents for life insurance companies and other banking and financial products who require specialised training as financial advisers," ICICI Prudential AMC, head -- retail sales and distribution, Vikram Kaushal said. Of the estimated 68,000 financial advisers available in the country, almost 38,000 are working for ICICI Prudential, he said.
While a company spokesperson said Bharti would either dilute its stake or exit the venture, the fund house is trying to rope in a bank to strengthen its distribution network. In addition, an asset management venture is seen to have closer links with banks, which are looking to offer a wide range of financial products.
UK-based Standard Life, the joint venture partner in HDFC Standard Life Insurance and HDFC Asset Management Company, is entering the Indian private equity space. Gerry Grimstone, chairman of the British insurance major, speaks to Business Standard's Shilpy Sinha on the impact of the economic slowdown and the company's investment plans.
Leading private financial players HSBC and ICICI Prudential along with country's largest bank SBI have been shortlisted to manage about Rs 25,000 crore (Rs 250 billion) in provident fund of about four crore employees annually.
Sandesh Kirkire, CEO, Kotak Asset Management Company says RBI may hike rates and tighten liquidity.
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.
The board of director at their meeting held on Tuesday approved the proposal to discuss, negotiate and finalise the terms of acquiring 100 per cent or majority equity shareholding of Lotus India AMC, Religare said in a statement. The company has agreed to acquire Lotus India AMC from its majority shareholders, Alexandra Fund Management (an affiliate of Fullerton Fund Management Company Ltd) and Sabre Capital.
Our partnership with ICICI Bank continues to remain strong. We have an exceptional relationship with them, says group CEO of Prudential.
Here is our take on the market trends to watch out for in 2010.
UTI, SBI, Reliance MF promote SIPs with low threshold. However, there are several hurdles. Mutual fund investments require the investor to have a PAN -- a big deterrent when it comes to tapping small and marginal investors. A big fear is that given the fickle nature of the stock market, rural investors might easily get scared when there is a downturn in the market.
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