L&T Housing Finance on Thursday announced selling L&T Investment Management (LTIM) to HSBC Asset Management (India) at $425 million. LTIM is the investment manager of the mutual fund business of L&T. The divestment of the mutual fund business is in line with the strategic objective of L&T Finance Holdings of unlocking value from its subsidiaries to strengthen its balance sheet, it stated in a press release. The data from the Association of Mutual Funds in India (Amfi) shows L&T Mutual Fund (MF) has average assets under management (AAUM) worth Rs 78,273.80 crore, while HSBC MF has AAUM of Rs 11,314.32 crore as in the July-September quarter.
'Investing in these funds makes sense if their net yield over better-quality funds -- corporate bond funds or banking and PSU funds -- is meaningful.'
HSBC Tax Saver Equity Fund too offers deduction under Sec. 80C
With the interest rate cut cycle nearing its end, several debt fund managers are shifting their focus towards interest income rather than betting on duration in anticipation of capital gains.
Mahindra & Mahindra (M&M) on Thursday said it has sold 3.53 per cent stake in RBL Bank for Rs 678 crore, representing a 62.5 per cent gain on the investment. On July 26, 2023, the Mumbai-based diversified firm had announced the acquisition of a 3.53 per cent stake in RBL Bank as a treasury investment at a cost of Rs 417 crore.
The domestic initial public offering (IPO) market is experiencing a significant surge, fuelled by the financialisation of savings, digital ease of investing, and expanding participation from both retail and institutional investors, investment bankers said on Wednesday.
The MF Industry had a cash-rich 2014 as it crossed the Rs 3 trillion mark.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
'The frenzy for gold is primarily due to the uncertainty surrounding the tariff war.'
Make sure you have a firm investment policy in place - one that clearly spells out which product to buy for each goal, why to buy, when to buy and when to sell.
'Listing of scaled Indian subsidiaries of multinational corporations as well as of Indian conglomerates continues to remain a key theme for IPOs in India.'
According to the global financial services major, FII flows in May were mixed, with investors being more selective.
Gold funds have returned -5.2 per cent, while the Sensex is down 7 per cent in the past year.
The bank says valuations are still high, foreign mutual funds are still 'very overweight' on Indian shares.
Ask rediffGURU Ulhas Joshi your mutual fund queries.
There was no smooth surge in middle class prosperity for foreign businesses to tap into because of the Indian economy was mismanaged, argues Debashis Basu.
rediffGURU Ulhas Joshi recommends five factors you need to look at to evaluate the performance of two schemes.
India remains one of the most over-owned market in Asia.
'We expect the bull-market phase to still persist, but now led by large-caps which offer better valuation and benefit from FII inflows.'
'We expect continued pressure on midcaps, but any sharp correction looks unlikely from here on.'
rediffGURU Sunil Lala answers your personal finance-related queries.
Retail investors should continue to invest in accrual schemes like cash and floating rate funds.
Mutual funds (MFs) have lined up information technology (IT) funds, indicating that technology stocks are back on fund managers' radar after a hiatus. Over the past 18 months, stock prices for companies in the software space have either corrected or remained subdued. Fund houses have launched five IT-based sectoral funds in the past three months, with three of them taking the passive route.
India attracted $1.4 billion FIIs in November, says a report by HSBC.
HSBC Holdings Plc will shut its private banking business in India, a spokesman said
As many as 40 staffers, in the key equities and investment banking division in India, could be asked to go as part of the London-headquartered lender's global layoffs, said people aware of the development. HSBC India declined to comment.
rediffGURU Dev Ashish answers your personal finance and mutual fund queries.
Investors can sell their entire equity and move to debt when stocks get expensive
At least 14 mutual fund schemes have closed down, according to announcements made by fund houses. The reason: they had less than 20 investors in the scheme or a single investor was accounting for more than 25 per cent of the corpus. According to Sebi's guidelines, any scheme should have at least 20 investors. Also, no investor can account for over 25 per cent of the corpus.
The net inflows into active equity mutual fund (MF) schemes registered more than a twofold month-on-month rise in August, crossing Rs 20,000 crore, the highest in five months. This rise in net inflows was boosted by an 18 per cent growth in gross investments, driven by a record Rs 15,800 crore inflow through the systematic investment plan (SIP) route and Rs 5,000 crore collected by seven new fund offers (NFOs) in the active equity space, reveals data released by the Association of Mutual Funds in India (Amfi). Moreover, redemptions moderated in August, declining by 19 per cent to Rs 24,580 crore, after staying elevated in the previous three months owing to profit booking.
Many retail investors, who are experiencing their first bear market, are shocked at the erosion in the value of their mutual fund (MF) portfolios. The pain is especially acute for those who had taken excessive exposure to sector/thematic and small-cap funds. Even international diversification has failed to stanch the bleed in this downturn.
Hong Kong has regained its spot as the world's fourth-largest market following a broad market rout in Indian equities. Currently, the Chinese territory's market capitalisation stands at $4.9 trillion versus India's $4.75 trillion, according to data compiled by Bloomberg. In January, the domestic equity markets' market capitalisation had surpassed that of Hong Kong following a spectacular rally in the small- and midcap stocks.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
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