The Reserve Bank of India's (RBI) denial of permission to Swiss bank UBS to acquire Standard Chartered Asset Management Company has come as a blessing in disguise for Standard Chartered Bank.
Authorities in Ahmedabad demolished the houses of six out of 14 accused arrested for attacking commuters and rioting in the city. The demolition followed a mob attack on Thursday night in which three people were injured and several vehicles were damaged. The police are taking action against "anti-social elements" in the city, including preparing a list of repeat offenders and taking action against illegal constructions and encroachments.
Country's largest mutual fund UTI AMC on Friday became a private company with the four sponsors paying Rs 1,236.95 crore (Rs 12.369 billion) to the government.
A 69-year-old woman from Mehsana district, admitted to a private hospital in Ahmedabad, has been detected with HMPV. This comes just hours after health authorities announced there were no active cases of the infection in the state following the discharge of six patients. The woman was found positive for HMPV in a test conducted on January 18 and was admitted to the hospital on the same day for cough and difficulty in breathing. She does not have any travel history.
Credit-focused SIFs with lower minimum investment thresholds can provide a more practical option for investors with higher risk appetite, suggests Subodh Rai.
After a stellar 2023, the mutual fund industry sustained its growth momentum in 2024 with an impressive Rs 17 lakh crore surge in assets, driven by buoyant equity markets, robust economic growth, and increasing investor participation. Experts are predicting the positive trend will extend into 2025.
The Tokyo-based Shinsei Bank is all set to foray into the Indian mutual fund business by forming a joint venture asset management company with Andhra Bank.
Investors will take cues from the December quarter corporate earnings, with blue-chips like Infosys, Reliance Industries scheduled to report their results this week, in addition, inflation data and trading activity of foreign investors will also be crucial in dictating market trends, analysts said.
The financial numbers for 2023-24 (FY24) of the four pure-play listed asset management companies (AMCs) have enthused the Street. All firms listed robust growth in net profit and revenue both during the January-March quarter (Q4) of FY24, as well as in full FY24. The strong performance comes amid a positive growth environment for the sector, led by tailwinds such as sharp growth in assets under management (AUM) and robust performance in equity offerings.
While Angel One and Unifi Capital have obtained the final licence, Jio BlackRock, Capitalmind, Choice International and Cosmea Financial Holdings have received in-principle approvals.
NSE's Ramakrishna and ING Vysya Bank's Bhandari front runners for the post.
Inflows into mutual funds' equity schemes increased by over 14 per cent on-month to Rs 41,156 crore in December, even as market volatilities continued. The small and midcap schemes of mutual funds continued to attract investor interest with inflows touching record highs during the month, despite the concerns being expressed about the two segments for the risk they portend, industry body Amfi said.
More than 50 per cent of SIP accounts come from semi-urban and rural areas.
Equity mutual funds witnessed an inflow of Rs 35,943 crore in November, marking a drop of 14 per cent on a month-on-month basis, amid heightened volatility in stock markets driven by various macroeconomic factors, geopolitical events and US election results. Despite this, it marked the 45th consecutive month of net inflows into equity-oriented funds, reflecting the growing popularity of mutual funds among investors, according to data from the Association of Mutual Funds in India (AMFI) released on Tuesday.
China's Defence Ministry says the militaries of China and India are making "great progress" in implementing the disengagement agreement to end over four-year-long standoff in eastern Ladakh. Spokesman Sr Col Wu Qian said Defence Minister Rajnath Singh and his Chinese counterpart Admiral Dong Jun had a positive meeting in Vientiane, Laos, last week, and the two sides are implementing the settlement reached between the two counties. The two ministers agreed to implement the important consensus reached between the top leaders and promote stable relations between the two countries, the spokesman said.
Invest in these funds through the SIP route with at least a seven-year horizon.
Finance Minister (FM) Nirmala Sitharaman has presented a forward-looking Budget, reinforcing the government's commitment to 'Reform, Perform, and Transform'.
R H Patil was on Thursday appointed chairman of UTI Asset Management Company, the country's largest mutual fund.\n\n
Debt mutual fund (MF) schemes are set to register the best calendar year (CY) performance in the last four years despite no changes in the interest rate. An analysis of one-year performance of debt funds show that many of the schemes are set to deliver double-digit returns in CY 2024.
Front-running is a fraudulent practice where traders exploit advance knowledge of large client orders for personal profit.
Equity mutual funds witnessed a remarkable surge in inflows to nearly Rs 4 lakh crore in 2024, more than double the amount recorded in the preceding year, reflecting strong investor confidence and a continued shift towards long-term investing, particularly through Systematic Investment Plans (SIPs).
The Rs 84,000 crore domestic fund of funds (FoFs) space, which was in the doldrums over the past 18 months, has now caught the attention of investors due to a change in the tax structure in Budget 2024. The broader category, which includes offerings across equity, debt and commodities, has seen a spike in the inflows over the past two months. FoFs typically deploy the pooled capital in one or multiple MF schemes rather than investing directly into equities, debt or commodities.
Birla Sun Life Mutual Fund, which manages assets over Rs 9,000 crore (Rs 90 billion), is eyeing acquisition and targets to grow by over 30 per cent this fiscal.
HDFC Mutual Fund on Thirsday completed acquisition of Zurich fund to become one of the largest players in the country.\n\n\n\n
The performance of banking and information technology (IT) stocks has had a significant impact on the composition of diversified mutual fund (MF) portfolios. Over the past two months, these sectors have become increasingly dominant, now constituting nearly 30 per cent of the total allocation in many diversified MF portfolios.
The Sebi board on Wednesday approved a series of measures, including stricter regulatory norms for SME IPOs, a comprehensive overhaul of investment banking regulations, and an expanded definition of Unpublished Price Sensitive Information (UPSI). Also, the board approved reforms to boost ease of doing business for Debenture Trustees, ESG rating providers, InvITs, REITs, and SM REITs.
Capital markets regulator Sebi on Monday cleared a proposal to introduce a new asset class for high-risk profile investors to bridge the gap between mutual funds and portfolio management services in terms of flexibility in asset construction. The minimum amount of Rs 10 lakh can be invested for the new asset class per investor across all investment strategies of the new product in a particular AMC.
'The correction in the markets in the initial part of August provided investors a good buying opportunity.'
Mutual fund bets in their own schemes are nearing the Rs 1 trillion mark. The total value of sponsor and associate investments across all categories of schemes touched Rs 95,058 crore in February, according to a Business Standard analysis of data from industry body the Association of Mutual Funds in India (Amfi). This represents a 28.9 per cent increase over March 2023.
Several investors wanting to invest in mutual fund schemes, amid the selloff in the market on Tuesday, were left in the lurch as online MF investment platforms failed to execute the transactions on time.
Five firms, including ACC Ltd, HDFC Asset Management Company and FSN E-Commerce Ventures that runs Nykaa, will be dropped from Nifty Next 50 index from September 29. NSE Indices Ltd, an arm of the National Stock Exchange, on Thursday said that Indus Towers and Page Industries will also be dropped from the index. Punjab National Bank, Trent, Sriram Finance, TVS Motor Company, and Zydus Lifesciences will be included in the Nifty Next 50 index, NSE Indices said in a statement.
Prudential ICICI Asset Management Company the investment manager to India's largest private sector mutual fund launched an innovative product, the Pru ICICI Advisor Series.
SBI Mutual Fund recently launched the SBI Quant Fund. Its new fund offer (NFO) opened on December 4, 2024, and will close on December 18, 2024. Currently, 11 fund houses manage quant funds with assets worth Rs 9,013.6 crore.
Shares of asset management companies (AMCs) have rallied in the last 3-4 sessions due to clarity on regulatory changes in total expense ratios (TER) and expectations that it won't upset profits much in the long run. HDFC AMC has gained over 12 per cent in the last four sessions, while Nippon AMC and UTI AMC are up around 5 per cent. Aditya Birla Sun Life (ABSL), the only other listed AMCs, has risen more than 2.3 per cent in the last four sessions.
As regards mid-caps and small-caps, analysts suggest investors buy only those stocks of those companies where there is earnings visibility for at least a few quarters and where the valuations have become reasonable.
It hurts to see retail investors become unwitting preys to games being played by AMCs (asset management companies) and mutual fund distributors.
Mutual funds (MFs) managed a record Rs 66.2 trillion in assets during the July-September quarter, marking a 12.3 per cent increase over the previous three-month period - the highest quarterly jump in MF assets in at least five years. During the April-June period, the average assets under management (AUM) stood at Rs 59 trillion. The sharp rise in AUM, according to experts, is driven by a robust equity market rally and record inflows into equity schemes.
