Housing Development Finance Corporation on Wednesday announced its foray into the real estate fund business by launching 'HDFC Property Fund' in association with the State Bank of India.
Securities and Exchange Board of India (Sebi) has tweaked the benchmarking norms for mutual fund (MF) schemes in a bid to bring more uniformity. The regulator has introduced a two-tiered structure for benchmarking of schemes and all the benchmarks followed should be total return index (TRI). According to the circular, the first-tier benchmark shall be reflective of the category of the scheme, and the second-tier benchmark should be demonstrative of the fund manager's investment style or strategy within the category.
Birla takes over as chairman after his group increased its stake to 51 per cent in November 2012 from the earlier 50 per cent.
With the stock markets being on a downturn for most part of the year, many asset management companies (AMCs) are sitting on huge piles of cash or cash equivalents, with some equity-oriented funds holding as much as 40 per cent of their assets in cash, a Crisil report pointed out.
Nimesh Shah, managing director & CEO of ICICI Prudential Asset Management Company, tells Chandan Kishore Kant that he is bullish on the Indian market.
S&P Global Ratings on Thursday upgraded ratings of five companies of the Tata group including Tata Steel, Tata Motors and Jaguar Land Rover (JLR) reflecting its reassessment of the ongoing influence and the potential for 'extraordinary financial support' from the parent, Tata Sons. Under the revised exercise, S&P Global said ratings on Tata Steel Ltd and its 100 per cent-owned financing subsidiary ABJA Investment Co Pte Ltd have been upgraded to 'BBB-' from 'BB' with stable outlook. Similarly, Tata Motors Ltd and its wholly-owned arm TML Holdings Pte Ltd have been upgraded to 'BB-' from 'B' ratings with stable outlook.
From how to open an NPS Vatsalya account to knowing how this scheme compares to investing in mutual fund or in provident fund, Ramalingam Kalirajan offers a 360-degree view and the pros and cons of investing in a scheme that has the potential to secure your child's financial well-being.
'In the short-term, the markets may be affected' by the review but 'it will help address what they are worried about which is why we need transparency,' says former chief economic advisor.
When Deutsche Asset Management Company (AMC) listed its debt scheme - DWS Fixed Term Fund-Series 43 (growth option) - on the Bombay Stock Exchange (BSE) on April 4 this year, little did they know that within 24 days the scheme's net asset value (NAV) would double to Rs 20.
SBI Cards & Payment Services reported mixed results for the January-March quarter (Q4) of FY24. While it managed to deliver strong earnings growth, it saw a perceptible decline in net interest margin (NIM) and suffered deteriorating asset quality. Taken together, the market was disappointed with the share dropping 3.5 per cent.
Pirojsha Godrej, 43, patriarch Adi Godrej's son, is set to take over as chairman of the Godrej Industries Group from 2026 whol Nyrika Holkar, Smita Godrej Crishna's 42-year-old daughter, has emerged as the face of the Godrej Enterprises Group.
According to a notification on Saturday, the "services rendered by a mutual fund agent or distributor to mutual fund or asset management company for distribution or marketing of mutual fund" form part of 34 items exempt from service tax.
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.
To discourage investors from quick sell-offs, fund houses have started raising exit loads - a penalty charged when investors redeem investments before a specified time.
rediffGURU Samkit Maniar answers readers' personal income tax queries
The 2023-24 (FY24) July-September quarter (second quarter, or Q2) proved to be a mixed period for asset management companies (AMCs). While the two largest listed AMCs, HDFC and Nippon, reported robust growth in both revenue and profits, the other two, Aditya Birla Sun Life and UTI, experienced profit declines. HDFC AMC reported an 18 per cent year-on-year increase in Q2 revenue to Rs 765 crore, while Nippon's revenue rose 15 per cent to Rs 475 crore.
Radhika Gupta and Anant Jatia, start-up entrepreneurs, speak about the impetus for their unusual start up, that led them to switch countries and gamble on their futures. They also discuss what it takes to succeed with their unique business proposition, why they quit lucrative careers to start a company in India and their success mantras.
New investors should gradually build a 5 to 10 per cent allocation to gold.
'They are attacking my wife; they are attacking our 13-month-old daughter. They are saying that I do drugs.' 'I'm giving an open challenge to Mr Nawab Malik and Ms Sana Malik let's go to the labs and let's do the medical test of our family and your family.'
Investors not comfortable investing directly may take the mutual fund route, where they get exposure to a diversified portfolio of bonds.
Investors must consider investing through mutual funds as there are better systems to ensure that investors are insulated from adverse news.
Last week was unprecedented in the history of the Indian mutual fund industry-- the net asset values (NAVs) of nearly a dozen liquid-plus funds fell.
'As on August 25, 94,753 Govindas have been insured.' 'This number is expected to rise further, as proposals for 5,000 to 8,000 Govindas are received daily.'
Employers are now increasingly looking for candidates with a wide range of nuanced skills that will be crucial to have an edge in a competitive market, says Shekhar Bhattacharjee.
Analysts believe that investors should look at stocks that hit 52-week lows only if they have a dividend paying track record, are debt-free and have sound fundamentals.
The Confederation of Indian Industry (CII) on Sunday urged Indian startups to keep their valuation "realistic" and distinguish between the goals of the organisation and its founder. "Startups may strive for long-term value creation rather than short-term valuations. "The valuations of businesses should be kept as realistic as possible," CII said in its Corporate Governance Charter for Startups.
A majority of fixed income investors expect the fiscal deficit to stay close to the government's target of 5.5 per cent or lower in the year to March 2011, according to a Fitch Ratings survey of money managers at asset management companies, life insurers, pension funds and banks.
AMCs can invest $7 billion abroad, and $300 million per AMC, but investments are way below these levels. Most equity schemes can invest 35 per cent of their assets abroad and there are schemes that invest only in overseas equity. What's holding them back is that they are not very sure if they can buy these bonds.
Mutual funds are set to bag a huge chunk of the nearly Rs 3,05,000 crore cash reserves of the public sector companies.
Sources said that the Malaysian prime minister invited Ambani to invest in sectors like power, media and financial businesses.
UTI Asset Management Company plans to acquire an IT company to provide services as a registrar and transfer agency.
'We see mid-and small-caps as a real pot of gold.' 'From a 10-15 years perspective, mid-and small-cap are likely to outperform the larger index, as they have done in the past.'
The Reserve Bank of India (RBI) on Monday directed banks and non-banking financial companies (NBFCs) offering gold loans to thoroughly review their policies, processes, and practices to identify any gaps. The central bank also told them to closely monitoring their gold loan portfolios amid significant growth observed in this segment vis--vis some lenders. Additionally, the RBI, through a circular, instructed these lenders to ensure adequate controls over outsourced activities and third-party service providers.
In times like these, when the financial industry is reeling under the pressure of scepticism, communication has become the most important tool for financial services providers. Hence the flood of emails to associates, employees and investors.
The Bombay high court has stayed the Central Information Commission's order on the applicability of the Right to Information Act 2005 on UTI Asset Management Company. UTI Mutual Fund and UTI Trustee company had filed a writ petition challenging the CIC order.
Infosys was the only large-cap IT player to report sequential constant currency (cc) revenue growth for the June quarter (1 per cent ), which was ahead of analyst expectations, but the company's sharp downward revision in its growth guidance took most brokerages by surprise. In line with the cut in its FY24 revenue guidance (cc) to 1-3.5 per cent, brokerages have unanimously reduced FY24 EPS estimates for the company in the range of 2-4 per cent, though the Street is likely fearing even further downside, they say. Global brokerages Macquarie and Nomura downgraded Infosys to underperform and reduce ratings, respectively, with the latter cutting the target price to Rs 1210 from Rs 1260.
'There is not any negative connotation associated with it.'
15 to 25 per cent of property registrations in Mumbai come from redevelopment, with over 3,500 projects approved by May 2024.
