With the listing of Reliance gold ETF on the National Stock Exchange (NSE) on Wednesday, four fund houses (Benchmark, UTI Mutual Fund and Kotak Mutual Fund being the other three) currently offer gold ETFs to Indian investors.
The decision will benefit over nine crore such account holders having total deposit of around Rs 32,000 crore.
The clarification by the National Securities Depository (NSDL) - which is tasked with monitoring foreign portfolio investor (FPI) investment in domestic stocks - that the accounts of top investors in Adani group stocks remain 'active' has helped prevent a $500-million selloff of shares. Analysts said a freeze of the FPI accounts, as reported by some media outlets, could have prompted global index providers to cut weighting of four Adani group companies from their global indices. Brian Freitas, an analyst at independent research provider Smartkarma, said if the FPI accounts were indeed frozen, FTSE and MSCI would have reduced weighting of Adani group companies at the next rebalance, since it would have meant that the large part of the free float was not tradeable.
The previous highest divestment proceeds for the first half of a year was around Rs 21,000 crore in 2016-17.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Witnessed net outflows of Rs 8 crore.
Prices are sustainable and not just driven by speculative gains
This will encompass the sale of Air India, a number of other privatisation initiatives, mergers, initial public offerings, the Centre's two exchange-traded funds, buybacks and offers-for-sale, and even monetisation of land assets.
For first time in 8 yrs, stake sale proceeds could exceed Budget Estimates. ONGC's acquisition of HPCL alone could get the exchequer more than Rs 30,000 crore.
NRIs should work at building a portfolio that includes both open-ended Indian equity funds as well as MSIIF. \n
Equity flows have been under pressure since the second half of 2018, after the IL&FS crisis sent shockwaves in both equity and debt markets.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
A chunk of divestment till now has come from follow-on offerings in the Centre's two ETFs, Bharat-22 and CPSE. Now, there will be initial public offerings of Mazagon Docks, rail companies RVNL and IRFC and MSTC.
'It could tempt investors to pick stocks that are not fundamentally sound.'
The EPFO started investing in ETFs in August last year after the CBT in March cleared proposal to invest in equity markets.
This was because of the closure of retail shops and factories after the nationwide lockdown was imposed to prevent spread of Covid-19, and a sharp increase in the metal's price.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Institutional investors - both foreign and domestic - lapped up the government's big-ticket share sales on Friday, helping it add nearly Rs 9,000 crore to its revenue kitty.
In last few years, a number of global players have exited the Indian mutual fund business.
The return from the ETF investment will be more than the 8.75 per cent the EPFO offers to subscribers now.
Labour Ministry has notified new investment pattern for EPFO.
The average difference in expense ratios between a regular and direct plan is 100 to 120 basis points. For those who need hand holding, spend the 100 to 120 basis points and get advice on the right schemes that suit you. Don't land up buying a scheme with low expense, but lower returns.
Last week, govt sold shares worth Rs 220 crore in the open market without making a formal announcement. The deal came to light only this week.
The 15% invested every month in equity would be allotted to subscribers in the form of units.
'If you are ready to stomach the loss, you may invest 3-5 per cent of your portfolio in crypto assets.' 'Of this, 80-90 per cent should be in Bitcoin.'
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
The future of cryptocurrencies in India appears uncertain but that has not deterred young Indians from embracing the so-called 'fourth industrial revolution' world, where interconnectivity and smart automation, much of it relying on blockchain technology, drive human civilisation. Reserve Bank of India (RBI) Governor Shaktikanta Das has repeatedly warned of macroeconomic instability and even "serious consequences" if cryptocurrencies turn mainstream. The country's monetary authority wants a China-like total ban on crypto, not even allowing these currencies to be treated as investments. Though Parliament's website had listed the Cryptocurrency and Regulation of Official Digital Currency Bill as one seeking a total ban of cryptocurrencies in the country, it was not presented in the Winter Session. India now has the highest number of cryptocurrency investors in the world.
Operational and compliance challenges foreseen for fund houses in deducting tax at source, resulting in possible TDS mismatches and disputes with investors.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Ajit Mishra answers reader queries on the stock market.
The number of equity schemes rose to 562 from 519 two years ago. Equity NFOs, in fact, have mopped up more than Rs 16,000 crore since 2018 - 2.7 times the Rs 5,948 crore collected in the preceding three calendar years.
While Airtel has hiked the limit to 100 per cent in principle, the company needs to address some issues on overseas investment limits in subsidiaries, before the changes come into effect. Until then, the cap on foreign ownership will remain at 49 per cent under the automatic route.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Experts recommend buying gold as the fundamentals supporting a rally have not changed.
WGC expects demand to revive in H2 on surplus monsoon rains
Retirement fund body EPFO will cut exposure in corporate bonds and park more funds in the secure government securities.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Market gurus weigh in with how they're playing the accelerating oil market.
The government currently holds 87.40 per cent stake in IRCTC. To meet Sebi's public holding norm, it has to lower its stake in the company to 75 per cent.
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