As per the latest data available with mutual fund industry body AMFI, the total AUM of ELSS, or tax-saving funds, stood at Rs 25,069 crore at the end of January 2013.
After two consecutive years of plunge, the mutual fund industry managed to register a smart turnover in 2012, with its assets base seen nearing Rs 8 trillion with an increase of about Rs 2 trillion this year.
Total exposure of equity mutual funds to banking stocks is over Rs 42,000 crore - the highest level in more than three years.
Experts attributed the inflows to sudden rally in gold prices, mainly due to uneasy trade negotiations between the US and China and lower than expected global GDP growth.
Of the 70 international feeder funds, more than half have made losses in 2014.
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After a significant decline in business in the quarter ended June, leading gold loan companies are set to see a reversal of fortunes. In fact, the recovery already started in August, with a revival in the southwest monsoon.
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A new CBDT directive actively makes India-dedicated funds comparatively unattractive for institutional investors. It makes no sense, says Akash Prakash.
'In India, most funds have one or at most two platforms, but we are the only one which has four -- growth equity practice, real estate practice, a special situation and credit platform, and infrastructure.'
Half a dozen stocks from the large-cap universe and over two dozen from the mid-cap universe have been replaced.
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In a live chat on rediff.com on Wednesday, July 16, 4 pm, Feroze Azeez, will offer some valuable suggestions on investments.
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The mutual fund industry took a hit of more than Rs 16,000 crore on its asset size during 2011, even as the newly-crowned market leader HDFC MF grew in size and consolidated its top position.
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.
To be fair, one year is too short a period to judge the schemes' performance.
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Most large fund houses, such as HDFC MF, ICICI Prudential AMC, Reliance MF, Reliance MF, Birla SunLife MF and SBI MF, have the backing of large banks or financial institutions, giving them reach and understanding, they say.
Steep volatility in the markets has made fund managers cautious, awaiting opportunities to deploy the cash.
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The number of fund houses are increasing each year in the fast growing Indian economy but when it comes about the size, the top five players control over half of the country's mutual fund business.
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ICICI Bank, HDFC Bank, Infosys, SBI and L&T among fund managers' preferred bets.
Indian retail investors continue to sell gold ETFs.
Nomura analysts said the Reserve Bank of India and the government would need to segregate the potential solvency issue at DHFL from liquidity issues at other larger wholesale NBFCs and HFCs.
When selecting a liquid fund, stick to schemes with an AUM of above Rs 1,000 crore.
The Association of Mutual Funds in India (Amfi) has already taken up the matter with the market regulator and the finance ministry.
Higher than average returns, lower risk and a well diversified portfolio make these funds a sound proposition.
The mutual fund industry saw a sharp decline in its average assets in June -- with over 36 per cent plunge for some companies -- as investors withdrawal offset gains from an upward move in the equity market.
In a circular dated May 20, Sebi had directed the listed companies to evaluate the impact of Covid-19 on their capital and financial resources, profitability, liquidity position, assets, and ability to service debt. Instead, companies have spoken about the number of plants, warehouses and distribution centres that have resumed operations; work-from-home and safety measures undertaken for employees; and the labour shortage they are facing.
Ajit Mishra will answer Your Questions on the stock markets on a weekly basis. Please mail your questions to getahead@rediff.co.in with the subject line 'Stock Market Query' along with your name and Ajit will offer his unbiased views.
Inflation indexed bonds assure a positive return over inflation.
Global wealth fell from $104.7 trillion in 2007 to $92.4 trillion in 2008.
The finance ministry on Tuesday cited "green shoots" of recovery in agriculture, manufacturing and services sectors, and said the prompt policy measures taken by the government and RBI have helped reinvigorate the economy with minimal damage. Stating that the agricultural sector remains the foundation of the Indian economy, the ministry said that a normal monsoon, as has been forecast, should support the rebooting of economy.
Corporate houses, banks and financial institutions account for more than half of the mutual fund industry's total assets under management, while retail investors hold less than one-fourth of the assets, a report says.\n\n
"We remain open to opportunities if appropriate valuations come up," said Reliance MF CEO Sundeep Sikka. Reliance MF, which is India's biggest mutual fund in terms of assets under management, has also become the first fund house to cross an average AUM of Rs 1 lakh crore. "Consolidation has already started in the industry and, going forward, only top 5-7 fund houses would command the major chunk of funds as investors will have confidence in large fund houses," Sikka said.
The film titled Ithu Kathirvelan Kadhal will be a love story.
Riding on the back of fresh inflows into various schemes, the MF industry's AUM totalled Rs 7.20 lakh crore (Rs 7.2 trillion) -- a 24 per cent rise over the previous month, Crisil FundServices said in a report. During July, FIIs invested over Rs 11,600 crore (Rs 116 billion) in Indian equities, while MFs bought Rs 1,825 crore (Rs 18.25 billion) shares, as per data available on the website of Securities and Exchange Board of India.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
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