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.
Over 700,000 new investor accounts have been opened so far in FY15.
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.
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.
'The idea is to invest where there is opportunity.'
Debt funds typically held 0-5 per cent of their portfolio in cash and cash equivalents before this Sebi diktat.
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.
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.
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
Instead of only focusing on the tenure for which the best interest rate is available, investors should also focus on their own investment horizon.
Both the debt and equity markets have seen sharp volatility in recent months.
If FMPs get categorised as liquid funds, they will attract higher dividend distribution tax
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'Strong regulations are crucial for the orderly development of the market.'
'Continue with your SIPs to get the benefit of lower average prices in this challenging market environment.'
Apprehending a sharp decline in business, mutual funds including UTI AMC have asked Finance Minister P Chidambaram to exempt all debt instruments from the proposed 0.15 per cent transaction tax.
In 2022, gold emerged as the top performer among all conventional asset classes with over 14 per cent returns mainly owing to the depreciation of the rupee.
'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.'
Madhabi Puri Buch, the first female chairperson of Sebi, doesn't plan to rest on her laurels in her third and final year in office and has set out an ambitious goal, such as moving towards a same-day and instantaneous settlement cycle for the secondary market.
'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.'
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.
This was the second consecutive yearly outflow from such funds.
Be mindful that each instrument is governed by a different set of gifting rules and is also taxed differently.
Gold is an excellent asset class for diversification and should be included in all long-term portfolios.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
In October, the contribution through SIPs rose to Rs 79.85 billion, up 42% compared to the same month last year.
You can look at equity-oriented balanced funds.
The mutual funds witnessed net inflow of Rs 7,131 crore (Rs 71.31 billion) in May 2003, with total sales and redemption/repurchases at Rs 35,922 crore (Rs 359.22 billion) and Rs 28,791 crore (Rs 287.91 billion), respectively.
Foreign portfolio investors, on the other hand, have been net sellers in the markethaving pulled out Rs 8,600 crore
The main purpose of the meeting is to assess their views on reforms that are required to attract long-term capital into the country.
UTI's legacy and brand recognition, together with a robust distribution network and access to public sector money, could work in its favour, and help it command a premium
Begin by creating a household budget. Involve all family members in the exercise and cut costs wherever possible.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
