The New-York based Goldman Sachs, one of the world's oldest and largest investment banking firms, plans to enter the buoyant mutual fund business in India.
Debt mutual fund (MF) schemes are set to register the best calendar year (CY) performance in the last four years despite no changes in the interest rate. An analysis of one-year performance of debt funds show that many of the schemes are set to deliver double-digit returns in CY 2024.
Sebi has allowed mutual fund schemes the option of 'side-pocketing' which move will help both fund houses and investors.
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
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.
Foreign institutional investors (FIIs) have raised stake in billionaire Mukesh Ambani-led Reliance Industries to a record 25.2 per cent in the quarter ended September 30, according to the company's regulatory filing. Reliance Industries (RIL) on Thursday filed a statement showing the shareholding pattern for the quarter ended September 30.
Actively managed debt funds with the flexibility to go long on duration made a strong comeback on the returns chart in 2023, thanks to softening bond yields. The average one-year returns of floater, long-duration, gilt, and dynamic bond funds, which ranged between 2.3 per cent and 4.5 per cent at the end of 2022, now stand at over 7.2 per cent, with some schemes delivering over 8.5 per cent, according to data from Value Research. Debt fund returns are inversely related to yields of underlying investments, meaning a decline in yields is positive for funds.
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.
Though the sum was nowhere close to the big-ticket monthly purchases seen during the 2004-2008 bull run, it is significant, as it confirms the reversal of a selling spree that began in September 2013.
The MF Industry had a cash-rich 2014 as it crossed the Rs 3 trillion mark.
Automobile sector accounts for the third-highest equity mutual fund contributions.
Experts believe that one should not allocate more than 5-10 per cent of one's equity portfolio to international funds.
'Macro headwinds are rising for Indian equities in the form of rising commodity prices, especially oil, depreciating rupee, fiscal challenges, election-related uncertainty and upside risks to inflation'
Sebi directs freezing of all demat accounts not linked to Aadhaar by December 31
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