In a bid to tap the growing potential of mutual fund business in the country, ICICI Bank has decided to raise its stake in Prudential ICICI Asset Management Company to 51 per cent, by buying out six per cent stake from Prudential Plc.
The government on Thursday cleared the long-awaited sale of the UTI Asset Management Company to three state-owned banks and the LIC at a price of Rs 1,237 crore.
R H Patil was on Thursday appointed chairman of UTI Asset Management Company, the country's largest mutual fund.\n\n
HDFC MF has had a history of stock options and gave additional ESOPs to key staff a few months ago
The Unit Trust of India Asset Management Company on Saturday called for a lower tax regime for mutual fund industry for the benefit of average investors.
M Damodaran, chairman and managing director of UTI Asset Management Company, and administrator of UTI's specified undertaking, on Wednesday assumed the office of the CMD of Industrial Development Bank of India as a temporary measure.
Physical advisors have been receiving tough competition from algorithm-based investment counselling and robo-advisories.
While previously selling of the marketing business, possibly to another state-owned firm, was being considered, the government is now mulling on hiving off the pipelines into a separate entity and selling off a majority stake in it.
Chandresh Nigam will join Prudential-ICICI MF in July as senior fund manager (equity), and will report to Dileep Madgavkar, vhief investment officer.
HDFC Mutual Fund on Thirsday completed acquisition of Zurich fund to become one of the largest players in the country.\n\n\n\n
Rather than investing directly in shares, opt for mutual funds and/or portfolio management schemes that will invest in global markets on behalf of their investors.
YES Bank, Bank of Baroda, SBI, IndusInd Bank, and RBL Bank are amongst the banks, Jefferies says, are most prune to "high risk" emanating from ADAG, Cox & Kings, CG Power, DHFL and Essar Shipping.
American Express Bank is open to acquiring Indian banks and mutual funds as part of the efforts to increase its presence in the country.
UTI Asset Management Company is planning to come out with an initial public offer by selling 60 per cent of its holding to the public, its chairman M Damodaran said in Kolkata on Monday.
Reliance Capital Asset Management Company (RCAM) and ICICI Securities Primary Dealership have been selected to manage Rs 60,000 crore (Rs 600 billion) provident fund corpus of coal industry workers.
Firms in which IP is critical, such as pharma and research and knowledge-based organisations, were taking the lead in seeking cyber covers to protect their computer systems from hack attacks
MFs greet FMs decision on overseas investment
'Indians are great savers, but they are lousy investors.'
In April, the inflows into equity schemes dropped 60% compared to the previous month to Rs 4,608 crore, the lowest since Sept 2016.
In his first comments after resigning as RBI governor on December 10 last year amid sharp differences with the government, Patel said banks indulged in over-lending, while the government did not "fully play" its role, and also conceded that the regulator should have acted earlier.
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