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.
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.
The film titled Ithu Kathirvelan Kadhal will be a love story.
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The mutual fund industry's average assets under management grew by Rs 86,355.19 crore (Rs 863.55 billion), or 15.66 per cent, and analysts said the increased inflows into fund houses show that investors are regaining confidence in equity schemes. The combined average AUM of the 35 fund houses in the country increased to Rs 6,37,609.41 crore (Rs 6,376.09 billion) in May compared to Rs 5,51,25,422 crore (Rs 5,51,25,4.22 billion) in April.
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.
Automobile sector accounts for the third-highest equity mutual fund contributions.
According to sources, in a January 6 letter to the department of financial services under the finance ministry, LIC said it wanted to stop sponsoring LIC Nomura Mutual Fund, and might offer some of its stake in LIC Housing Finance to other shareholders.
Risk-averse investors can hold up to 10 per cent of their portfolio in gold, while aggressive ones can keep five per cent.
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.
Prime Minister Manmohan Singh on Friday left for a two-day visit to Bhutan during which he will seek to further boost India's "unique" ties with the Himalayan nation and address a joint session of its newly elected Parliament. Singh's visit to Bhutan comes at a time when the country is taking steps towards democracy and celebrating 100 years of the Wangchuck dynasty and 50 years of first Prime Minister Jawaharlal Nehru's month-long tour.
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.
In fact, the current market scenario provides more value investment opportunities. So, it is positive for mutual funds.
It's good to see your fund's corpus rise over time, but when funds become too large, their performance can be adversely impacted. And mid-cap funds are more prone to this phenomenon.
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.
State-run UTI Mutual fund has toppled private sector ICICI Prudential to be the country's second biggest fund house, while Anil Ambani Group's Reliance MF has retained its top position.
The Indian mutual fund industry's assets under management race from Rs 3 trillion to Rs 4 trillion has come in just nine months.
While mutual funds charge fees of 1-1.5 per cent of assets managed, that for pension funds could be a hundredth since the two investment streams are dramatically different.
In October, the contribution through SIPs rose to Rs 79.85 billion, up 42% compared to the same month last year.
With this, total inflows have reached Rs 3.98 lakh crore in the first 11 months of the current fiscal (2016-17). In comparison, Rs 2.07 lakh crore was invested in various mutual fund products during April-February period of 2015-16.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Equity fund managers' other favourites are software stocks followed by pharma, finance and consumer non-durables
In 5 years, the AMC has clocked a growth rate of 40% with its AUM up nearly 4 times.
Reduction in the mandatory minimum contribution and extension to invest in the scheme from 60 years to 70 years has made the National Pension Scheme more friendly, says Anil Chopra, Group CEO & Director Bajaj Capital
Reliance Mutual Fund has toppled UTI MF to become the country's largest fund house in January with assets under management of more than Rs 39,000 crore (Rs 390 billion).
India's 32 mutual fund houses saw an erosion of over Rs 32,200 crore (Rs 322 billion) in their total asset under management last month, with a weak stock market robbing off some shine from their over Rs 5 trillion portfolio.
The assets under management of mutual funds are likely to cross Rs 600,000 crore (Rs 6 trillion) by the end of this fiscal as the continuing bull run in the stock markets and launch of new schemes by fund houses lures more investors.
Before falling seriously ill, Neeraj Vora was working on the third instalment of the Hera Pheri franchise.
Unlike most MF distributors in India, Paytm Money will be offering low-cost direct plans, which don't charge for distribution expenses
Be it doormats, toiletries or beachwear, the moment these products have sketches of Indian idols, they become a rage in western markets.
An American online store selling women's undergarments featuring images of Hindu gods has angered members of the community.
'There are no new benefits for senior citizens, but on the other hand senior citizens having sizeable dividend income may have to suffer tax at applicable slab rates,' says Mahesh Padmanabhan.
Nearly three-fourths of the debt money, as of April 30, 2019, was invested in securities with duration of less than three years.
Thanks to the recapitalisation by the government and measures taken by the central bank, collapse of any large housing finance company won't pose as big a risk as it had six months ago.
It is also learnt that Deutche bank has initiated a search for a new head of its private wealth management business in India
Bajaj Finserv has few opportunities and challenges to overcome in 2015.
Importantly, is there hope going forward?
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