Assets under management with the mutual fund industry jumped a whopping 41 per cent in fiscal 2021 to Rs 31.43 lakh crore, despite a minor 1 per cent decline in March, says a report. The 1 per cent decline in assets on monthly basis in March was because of net outflows from open-ended debt funds, even though open-ended equity funds for the first time in June 2020 recorded net inflows, according to the industry data collated by Crisil on Friday. Marc saw net outflows of Rs 29,745 crore, taking down the industry's asset base to Rs 31.43 lakh crore, down from the record high of Rs 31.64 lakh crore in February, registering a whopping 41 per cent growth in the fiscal 2021 over the previous fiscal, said Crisil, adding cumulative inflows equalled Rs 2.09 lakh crore.
Young investors could allocate in the proportion of 70:20:10 to equity, debt and gold.
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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.
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Gold prices have eased off in recent months after the formation of a new government bringing in positive sentiment back to the stock market.
It has mostly been a one-way street for smallcap stocks that have taken it on their chin thus far in February. The Nifty Smallcap 250 index has shed 3.2 per cent in the current month as compared to the 1.8 per cent decline in the Nifty Midcap 100 and the 0.5 per cent drop in the Nifty 50 index, data showed. Technically, the index has slipped below its 20-day moving average (DMA) placed at 14,800 levels on Monday, and is currently testing the 50-DMA, and is placed at 14,278 levels.
Rediff.com spoke to registered investment advisors to figure out how best the extra Rs 17,500 saved ever year can be invested to create a decent corpus in the years ahead. This is what they said.
Gold monetisation scheme will help unlock value of gold.
The Finance Act, 2020, has inserted a sub-section, mandating a seller to deduct tax equal to 0.1 per cent of sale proceeds if the value of goods sold exceeds Rs 50 lakh in a financial year.
Bullion may settle with limited upside potential
The rise in consumer price index (CPI) inflation could see the Reserve Bank of India (RBI) in an extended pause mode as regards interest rates, and in turn, keep the market rally in check, believe analysts. Signs of inflation cooling off in the US, however, is likely to provide some cushion as the expectations of a change in stance by the US Fed as regards interest rates is likely to aid sentiment. Back home, CPI inflation surged for the first time in five months to 4.81 per cent in June 2023, and was higher than the street's expectations of 4.58 per cent.
Those who want to invest should consider their risk appetite. Youngsters may go for it as they have a longer horizon to recover from a setback.
The rally in silver may continue if the global economic recovery remains on course.
Chirag Mehta, senior fund manager -- alternative investments at Quantum AMC, shares his views.
For the beginners, this is a step-by-step process. First and foremost you will need to open a demat account with a depository participant before opening an account with a broker. To find out more, read on...
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A portfolio can be rebalanced by either selling a portion of the outperforming asset class or by buying more of the underperforming asset class.
For India to monetise gold, it is not the institutional depositor that policymakers must target but the average retail depositor.
Experts recommend buying gold as the fundamentals supporting a rally have not changed.
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UTI Mutual Fund recently launched Gold Exchange Traded Funds and many more companies plan to follow suit. Get the lowdown.
Witnessed net outflows of Rs 8 crore.
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In the last five years, while gold prices appreciated 55.8% in dollar terms, in rupee terms, returns stood at 129%, primarily owing to the falling rupee.
Both banks and jewelers sell coins and bars, but it is generally costlier to buy it from a bank
Aimed at curbing gold imports and relying more on domestic supply, the government on Monday linked Gold ETF with gold deposit scheme.
The decision was taken in view of significant rise in imports of gold in recent years putting pressure on current account deficit.
Such an economic environment tends to be positive for gold, the ultimate safe-haven asset. Since gold cannot be debased by central banks, it naturally gains in value.
This was because of the closure of retail shops and factories after the nationwide lockdown was imposed to prevent spread of Covid-19, and a sharp increase in the metal's price.
You can do so through physical gold (coins and bars), gold exchange-traded funds (ETFs), feeder funds and the e-series (popularly called, e-gold) launched by the National Spot Exchange.
Gold as an asset class has shown its mettle in the last one year. Especially in the past six months when the equity markets have been on a downslide, this yellow metal has continued to move northwards. And the numbers are there for all to see.
The first private sector MF, Kothari Pioneer was registered in July 1993.
Gold is no longer physical wealth but a paper asset whose value can fluctuate widely.
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Gold demand in India dropped by 30 per cent during the July-September quarter to 86.6 tonnes, compared to the same period last year due to Covid-19 related disruptions and ruling high prices, the World Gold Council (WGC) said in a report.
India's gold import bill, estimated at $3 billion in May, is seen falling further this month
