Capital markets regulator Sebi has permitted mutual funds to again invest in foreign stocks within the aggregate mandated limit of $7 billion for the industry. This came in the wake of a major correction in global markets that brought down the valuation of international stocks. In January, Sebi had asked mutual fund houses to stop taking fresh subscriptions in schemes investing in overseas stocks. The directive to stop subscription was mainly on account of the mutual fund industry crossing the mandated limit of $7 billion for overseas investments.
The EPFO is now developing a software that will help show retirement savings in cash and ETFs components separately. At present the account only shows the savings as gross cash component.
Mutual funds aspirants have the option of snapping up smaller AMCs or applying for a new licence.
Given the economic trends, it might make sense to allocate some savings to gold.
Fund houses have been barred from being net sellers or holding net short positions at the scheme level in commodities.
Retirement fund body EPFO is likely to approve this month a proposal to enhance its investments in equites to up to 20 per cent of the investible deposits from the current limit of 15 per cent. The proposal is expected to be considered and approved during the EPFO trustees' meeting scheduled to be held on July 29 and 30, according to a source. At present, EPFO can investment 5 to 15 per cent of the investible deposits in equity or equity-related schemes.
While e-gold is cheaper than gold plan, it's not tax-friendly like gold ETFs.
Jimmy Patel, MD & CEO, Quantum Mutual Fund, suggests some valuable financial gifts for your children.
Rising gold prices and continuing investment flow in yellow metal has pushed the size of assets held through gold exchange traded funds to an all-time high of Rs 11,198 crore.
Navi Mutual Fund (MF), among the latest entrants in the Rs 35-trillion industry, is looking to make a mark in the passive investment space, which is gaining traction in the country. The Flipkart co-founder Sachin Bansal-led fund house filed seven offer documents with the market regulator Securities and Exchange Board of India (Sebi) on a single day this week. Some of the schemes Navi MF plans to launch are Navi NASDAQ 100 Fund of Fund, Navi Nifty Commodities Index Fund, Navi Nifty 100 ESG Index Fund.
Asset-weighted returns of large cap funds lagged their benchmark by 273 basis points, ELSS funds by 318 bps and mid- and small-cap funds by 230 bps.
Equity mutual funds attracted an all-time high net inflow of Rs 28,463 crore in March, on continued interest by retail and HNI investors, who used market correction as a good buying opportunity.
Since infrastructure projects have long gestation periods, investors need to enter them with a long horizon of at least 10 years.
'Investors with as little as Rs 1 can start investing in digital gold.'
The market for Shariah funds is set to grow with Benchmark Mutual Fund launching the first-ever Shariah Benchmark Exchange-traded scheme in India. It's an open-ended listed index scheme.
Despite the listed funds outflow, the foreign portfolio investor activity in the region remained upbeat as other participants remained active
Despite strong AUM growth, MFs lag behind other popular investment avenues. MFs received only 6 per cent of total household savings in 2021-2022.
'It is requested that listed equity shares or units of equity-oriented fund schemes be exempted from capital gains tax (LTCG) if equity shares or mutual funds units are held for at least three years.'
Why the case for investing in passive funds is becoming stronger.
CoinSwitch has 7.21 times more cash holdings in rupees, compared to that held by its users on its platform.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
First Rajya Sabha approved the Rs 45 lakh-crore spending proposed in the Budget, followed by the nod to the Finance Bill that contains tax proposals.
As the Indian stock market gyrates to the tune of global uncertainties, investors are looking out to invest their moneys in safe haven. Gold, in virtual form, can obviously be one of those safe havens. But if you are not convinced here are 7 reasons why you must invest in gold exchange traded funds.
Investors not comfortable investing directly may take the mutual fund route, where they get exposure to a diversified portfolio of bonds.
Benchmark Assent Management Company, a Mumbai-based mutual fund house, has listed India's first gold exchange traded fund (EFT) Gold BeES on the National Stock Exchange on Monday.
A yellow glow is likely to stand out amid grey geopolitical clouds in 2023, with gold price projected to touch Rs 60,000 per 10 grams in the Indian market as more investors veer towards safe-haven assets. In a year where volatility was more a norm than an exception, gold prices in the international market oscillated from a peak of $2,070 per ounce in March to a low of $1,616 per ounce in November and is steadily recovering since then, according to market experts. At the beginning of 2022, gold prices were around $1,800 an ounce.
The price of bitcoin, the bestselling cryptocurrency, has shrunk nearly three times this year to mark the fate of such digital assets. Crashing prices, regulatory uncertainty and taxes have put Indian crypto exchanges in troubled waters. Finance Minister Nirmala Sitharaman's budget for FY23 announced a 30 per cent tax on any income from the transfer of virtual digital assets.
It doesn't face cash redemption pressures or rebalancing problems as other funds do.
An advisory body of EPFO has rejected a proposal to engage private banks -- ICICI, Axis and HDFC Bank -- for collection of PF contribution from employers.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Divestment in top PSUs could make the ETF as big as Rs 30,000 crore.
Nikunj Saraf, Vice President Choice Wealth, will answers your queries.
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.
The 8.1 per cent interest rate was recommended by the Central Board of Trustees after its meeting in Guwahati under the chairmanship of Union Labour and Employment Minister Bhupendra Yadav, a labour ministry press statement said.
Retirement fund body EPFO has retained 8.5 per cent interest rate on employees' provident fund (EPF) for 2019-20 for its over six crore members as decided earlier, and also began crediting the same into their accounts on Thursday. A large number of the members of the Employees' Provident Fund Organisation (EPFO) would be able to see their updated EPF accounts with credit of 8.5 per cent interest for 2019-20, from Friday, a senior official told PTI. The official further said the labour ministry has already sent the direction to credit the 8.5 per cent interest on EPF for 2019-20 to the EPFO, and the body has already started crediting interest into the members' account for the last financial year.
In a chat on rediff.com on Wednesday, financial planning expert Sailesh Multani offered some valuable investment tips.
The divestment target remaining unchanged, from the 2019-20 interim Budget, this year means the Centre will now have to depend on non-tax revenue sources like dividends from the RBI, PSBs and PSUs, as there are real concerns of a tax revenue shortfall. The fiscal deficit target of 3.4% of GDP for 2019-20 is likely to be retained as well.
'There is no question of diverting funds. This government is pro-poor, pro-worker and pro-progressive.'
Equity mutual funds attracted Rs 8,898 crore in July, a 43 per cent decline compared to the preceding month as markets continued to remain volatile amid concerns over inflation and rate hike expectations. For the 17th straight month, equity mutual funds witnessed inflows in July. The net inflows in July were lower compared to Rs 15,495 crore seen in June, Rs 18,529 crore in May and Rs 15,890 crore in April, according to data released by Association of Mutual Funds in India (Amfi) on Monday.
