While looking to give a boost to the mutual fund sector with some contribution from about Rs 5.5 lakh crore (Rs 5.5 trillion) corpus being managed by Employee Provident Fund Organisation, Sebi feels that age restrictions would safeguard investors from 'unnecessary risks' during years closer to their retirement.
With India's market capitalisation surpassing the $3-trillion mark, stocks across the board are adding heft. The upper limit for qualifying as a mid-cap stock -under the Securities and Exchange Board of India's (Sebi's) definition for mutual fund reclassification - has hit an all-time high of $5.4 billion. In 2013, amid the taper tantrum sell-off, it had dropped to just $1 billion, shows an analysis done by ICICI Securities.
When it comes to the Congress and Wayanad, the only way the scepticism in the minds of some in Kerala may be addressed is by the Gandhi family proving that they are more than a passing caravan in town, reports Shyam G Menon.
The rally in the equity markets in the second half of 2023 has led to a sharp surge in the cutoff for stocks to qualify as largecaps and midcaps. On the latest list put out by the Association of Mutual Funds in India (Amfi), the smallest largecap stock now has a market capitalisation (m-cap) of Rs 67,000 crore, 35 per cent higher than in July 2023. In the case of midcaps, the cutoff has surged 26 per cent to Rs 22,000 crore.
Commodity investments can help you diversify your portfolio in asset classes other than equity and debt, says Dwaipayan Bose.
There are just 10 mn MF investors compared to 60 mn homes with life insurance.
Mutual fund is an investment vehicle that is made up of a pool of funds collected from many investors for the purpose of investing in securities such as stocks, bonds, money market instruments and similar assets.
Last year ended on a positive note in terms of investment in the domestic equity mutual funds; thanks to a rise in the equity markets during the month of December.
Debt funds typically held 0-5 per cent of their portfolio in cash and cash equivalents before this Sebi diktat.
'Forget your loss or profit in your portfolio.' 'Look at how much cash you have in hand.' 'If you don't have cash in hand, liquidate at least partially; get into about 20 per cent in cash.'
Alternative investment funds (AIFs) - pooled investment vehicles catering to high net worth individuals (HNIs) - saw a 30 per cent increase in investment commitments during financial year 2022-23 (FY23). At the end of March 2023, the total investment commitments raised stood at Rs 8.33 trillion, up Rs 1.92 trillion from Rs 6.41 trillion at the end of March 2022. A commitment is the money clients are willing to put into AIFs.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
'Looking at the speed at which changes were made post the Franklin Templeton issue, we are awaiting more stricter norms in the months to come.'
In 2013-14, the funds witnessed outflow of Rs 2,293 crore
Understanding tax residency rules and maintaining proper documentation is imperative to ensure smooth tax compliance.
Mutual fund investors put in more than Rs 1.23 lakh crore into various schemes in July the second biggest infusion in a month this fiscal -- mainly in fixed income plans.
The Indian equity market valuation has been moving in tandem with the US 10-year treasury yield. While the benchmark US bond yield has witnessed a nearly 70 basis point decline since the end of October this year, dropping from 4.93 per cent to 4.23 per cent on Friday, the Sensex earnings yield has slipped by nearly 45 basis points - from 4.5 per cent to 4.05 per cent. Previously, Indian equities' earnings yields rose in sync with the US bond yields.
Asset management companies have been told not to deal with non-compliant intermediaries. They are to report such cases to the Association of Mutual Funds in India (Amfi) and Sebi.
"This decision of removing initial issue expense will make close-ended mutual fund schemes less expensive for retail investors", Sebi chairman M Damodaran said while briefing reporters after the board meeting. The Sebi board also cleared the draft proposal for listing of debt securities, ease disclosure norms for existing debt market securities and paved the way for permanent registration of capital market intermediaries.
Continued volatility in Indian stock markets over the US subprime mortgage crisis all through August has led to a fall in assets of mutual funds in the country by over Rs 185 billion during the month.
Postpone the purchase of big-ticket consumer durable items, recreational spending on holidays, and other such expenses unless your financial position is very secure, advises Sarbajeet K Sen.
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
This feat was achieved 25 years after the mutual funds industry was opened to private players. The industry now aims to achieve the next Rs 25 trillion in 5 years.
Over 700,000 new investor accounts have been opened so far in FY15.
Sebi has taken note of mis-selling in the financial sector and is planning to regulate the distributors, the only unregulated part of the MF industry.
Following the AMFI approval, these entities would be given the clearance by CDSL Ventures Ltd, the nodal agency for MIN issuances.
Domestic mutual funds have added over 20 billion dollars in July to their 100-billion-dollar kitty, driven by fresh capital raised through new fund offerings as well as a sharp rally in stock markets.
Both the debt and equity markets have seen sharp volatility in recent months.
Be mindful that each instrument is governed by a different set of gifting rules and is also taxed differently.
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).
Here is a checklist of 'must haves' for your investment advisor.
It is important to have the necessary documents on hand to verify the information in the form.
The combined average assets under management of the 33 fund houses in the country dropped to Rs 5,64,599.28 crore (Rs 5,645.99 billion) at the end of June as compared to Rs 6,00,266.32 crore (Rs 6,002.66 billion) in May, according to data released by the Association of Mutual Funds in India. Reliance Mutual Fund continues to be the top fund house in the country despite its average AUM falling to Rs 90,813.45 crore (Rs 908.13 billion).
The mutual fund industry has witnessed a value erosion of Rs 75,966 crore (Rs 759.66 billion) in equity-related schemes in the first seven months of the current financial year. This is primarily because of the slide in the equity market on account of the global financial turmoil.
Women have been leaving the investment decision to husbands.
The Association of Mutual Funds in India and CDSL Ventures are working on a finance ministry proposal to make use of the permanent account number
'The shadow banks are currently facing a liquidity and solvency crisis.' 'The danger is that it could potentially engulf the entire financial system because shadow banks have borrowed huge amount of money from banks, mutual funds, pension funds, and insurance companies.'
If FMPs get categorised as liquid funds, they will attract higher dividend distribution tax
The Income-Tax (I-T) Department nowadays provides pre-filled forms to make the filing of income-tax return (ITR) easier. Nonetheless, you must have a number of documents handy at the time of filing return so that you can cross-check the data in the pre-filled form. "Filing ITR doesn't require you to upload any document. But in case an assessing officer makes an inquiry, you will need to present documents and certificates as proof," says Deepak Jain, chief executive, TaxManager.in.
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