By contrast, the fraud enabled Raju's kin and aides to make hundreds of crores, charges CBI.
'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.'
Mutual funds are looking to tap into the special opportunities theme ahead of the results of the general election results and the continued uncertainty on the geo-political and interest rate fronts. Two fund houses - WhiteOak Capital and Samco - are set to launch special opportunities funds next week. Kotak MF has also filed papers with the regulator to launch a scheme in the same category.
Since April there have been no new NFOs because of the delay in the implementation of the new norms around pooling of funds.
Over the past 25 years the MF industry has come a long way. Geographic reach has increased, many more customers have been added, more channels have been opened up and the product basket is full.
Equity fund managers say large-caps offer higher relative safety, especially in such times.
Five Indian-origin women executives have made it to Barron's prestigious annual '100 Most Influential Women in US Finance' list for achieving positions of prominence in the financial services industry and helping shape its future. Barron's is a sister publication of the Wall Street Journal, published by Dow Jones and Company. "The list honours established and emerging leaders in financial services, the corporate world, nonprofit organisations, and government," the magazine said in a press release.
Companies featuring in the Next 500 list are mostly mid-sized and termed as the 'small wonders' by the magazine.
rediffGURU Ulhas Joshi answers readers' mutual fund queries
'The ability to tailor schemes to market conditions and invest in unlisted equity and real estate, as well as commodities, makes Alternative Investment Funds a sought after platform.'
In fact, the current market scenario provides more value investment opportunities. So, it is positive for mutual funds.
'We know that returning money to unitholders at the earliest is the first and most important step towards resurrecting our brand and regaining investor trust.'
After the Franklin Templeton episode, investor confidence has been shaken. Known brands have become more relevant to investors, as long as this psychological impact lasts.
The Securities and Exchange Board of India (Sebi) has just released a proposal to alter the regulations pertaining to the sponsor system for mutual funds. One of the reasons for the proposed changes is that there are two conflicting regulations that need to be clarified. The other reason is that the sponsor system may itself be outdated as it stands, and the proposed changes would allow new entities such as private equity funds and portfolio management services to enter this space.
The government has been pressing citizens to pay taxes and be compliant, but they have very little to show regarding improved efficiencies in the companies they themselves own, the fund managers said.
Schemes among the six wound up by the fund house had given a loan of Rs 518 crore against non-convertible debentures to the firm in March 2019, according to ED's chargesheet.
Focus on large-caps and ensure that the portfolio is balanced.
Experts say the impact on the schemes' NAVs may vary in the coming days, depending upon how fund houses treat the developments on VIL and whether there are any further rating downgrades or credit events.
FIPB had taken up these three proposals in its meeting in August, but the decision on them was kept in abeyance.
Corrective measures are already being taken by fund managers - overall allocation to the IT firm has been pruned by 120 basis points, from 4.43 per cent in March to 3.24 per cent in July
Don't exit from growth-style funds as they may benefit next from a shift in investor preference.
In a statement, the central bank said heightened volatility in capital markets in reaction to Covid-19 has imposed liquidity strains on mutual funds (MFs), which have intensified in the wake of redemption pressures related to closure of some debt MFs and potential contagious effects therefrom.
Among individual fund houses, SBI MF was the biggest gainer in absolute terms; its AAUM rose Rs 66,090 crore, compared to its asset base in the corresponding period of FY18, reports Jash Kriplani.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
'India is an equity market with a breadth and depth of companies to invest in.'
Following the money and freezing anything unaccounted is the only way to set an example for others, suggests Debashis Basu.
Instead of getting swayed by market gyrations, investors must stay invested for the long term, advises Sarbajeet K Sen.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
When looking at fund returns, avoid looking at just the past 12 months' performance, says Sanjay Kumar Singh
Today, it holds $131 billion in assets under management.
Investors can sell their entire equity and move to debt when stocks get expensive
'The potential headwind is that the Indian economy is likely to see a slowdown in growth rates over the next two years.'
Mutual fund houses hold Rs 3,400 crore of Yes Bank's 'riskier' bonds. Reliance MF, Franklin Templeton MF and UTI MF account for bulk of these exposures.
Most large fund houses, such as HDFC MF, ICICI Prudential AMC, Reliance MF, Reliance MF, Birla SunLife MF and SBI MF, have the backing of large banks or financial institutions, giving them reach and understanding, they say.
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
The SIP route suits the salaried class, by matching their income flows with investment frequency.
UK's Cairn Energy Plc plans to bring lawsuits in the US and other countries to pierce the corporate veil between the Indian government and its owned companies such as in oil and gas, shipping, airline and banking sectors, to seize their overseas assets to recover $1.2 billion ordered by an international arbitration tribunal. The firm has moved courts in the US, UK, Canada, France, Singapore, the Netherlands and three other countries to register the December 2020 arbitration tribunal ruling that overturned the Indian government's Rs 10,247 crore demand in back taxes and ordered New Delhi to return $1.2 billion in value of shares it had sold, dividends seized and tax refunds withheld to recover the tax demand. With the government so far refusing to honour the arbitration award and instead choosing to challenge it, Cairn is looking to enforce it by seizing overseas Indian assets, Dennis Hranitzky, head of the sovereign litigation practice at Quinn Emanuel Urquhart & Sullivan, a law firm representing the company, told PTI.
The sector needs to move away from such concepts.
managers said the weaker rupee, which has driven up shares of technology companies, has helped the fund fetch better returns.
Policies to break down the business group format are far more likely to be effective, argues Simon Commander.
