Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
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.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
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.
'Investors with as little as Rs 1 can start investing in digital gold.'
Investors not comfortable investing directly may take the mutual fund route, where they get exposure to a diversified portfolio of bonds.
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.
Fund houses have been barred from being net sellers or holding net short positions at the scheme level in commodities.
Jimmy Patel, MD & CEO, Quantum Mutual Fund, suggests some valuable financial gifts for your children.
Nikunj Saraf, Vice President Choice Wealth, will answers your queries.
While e-gold is cheaper than gold plan, it's not tax-friendly like gold ETFs.
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.
Why the case for investing in passive funds is becoming stronger.
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.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Despite the listed funds outflow, the foreign portfolio investor activity in the region remained upbeat as other participants remained active
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.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, 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 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.
'Had there been no war, maybe, we would come out with a 7.5 per cent stake sale.' 'At this point in time, a 3.5 per cent stake sale looked good.'
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.
'You should always maintain an allocation to gold as it has the ability to counterbalance any correction in the equity market.'
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.
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.
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.
It doesn't face cash redemption pressures or rebalancing problems as other funds do.
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.
Divestment in top PSUs could make the ETF as big as Rs 30,000 crore.
The RBI is still a small player in international gold buying among central banks. But in terms of total gold bought in 2019, it is the sixth largest buyer with 25.2 tonnes purchases in the first 10 months of 2019.
Global gold demand hit an 11-year low in 2020 at 3,759.6 tonnes, mainly due to a weak October-December quarter and the COVID-19 related disruptions across the world driving a muted consumer sentiment throughout the year, the World Gold Council (WGC) said in a report. The overall consumer demand during 2019 was at 4,386.4 tonnes, while in 2009 the overall demand was at 3,385.8 tonnes, according the WGC's 2020 Gold Demand Trends report. Global gold demand dropped by 28 per cent year-on-year (YoY) to 783.4 tonnes in the fourth quarter compared to 1,082.9 tonnes during the October-December period of 2019, the report stated.
This was also the 10th consecutive monthly net inflow, data with Association of Mutual Funds in India (Amfi) showed on Monday. In comparison, equity mutual funds logged net inflow to the tune of Rs 11,615 crore in November, Rs 5,215 crore in October, Rs 8,677 crore in September and Rs 8,666 crore in August.
'There is no question of diverting funds. This government is pro-poor, pro-worker and pro-progressive.'
In a chat on rediff.com on Wednesday, financial planning expert Sailesh Multani offered some valuable investment tips.
'The good news is that money continues to flow into India-focussed offshore funds.'
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
'Gold could return 10% to 12% in the next two-three years.'
Except for September quarter, which had net inflows of $196 million, all other quarters had outflows.
Sources said valuation of all these assets was an ongoing process, and the mode and manner of disposal would be decided on a case-by-case basis
