The scheme has a maturity of three years when it will automatically be converted into an open-ended scheme, a release said in Mumbai on Monday.
Franklin Templeton Asset Management (India) on Tuesday said it strongly disagrees with the findings in Sebi's order in the case of winding of six debt schemes in 2020 and has decided to challenge the direction in Securities Appellate Tribunal (SAT).
The country's mutual fund industry posted five per cent growth in average assets under management (AUM) to touch all-time high of Rs 8.68 lakh crore in May on the back of strong inflows into money market and income funds.
HDFC MF witnessed 17% rise in investment in its schemes to Rs 6,462 crore by group companies during May.
Polarisation and the increase in index weight of a few a stocks have weighed on performance. The worst performers include Nippon India Large Cap and HDFC Top 100 (2.6 per cent).
While both are risky propositions, Franklin does take a higher risk and is more aggressive. But the aggression has paid off and the fund has delivered handsomely. If you are looking for a racy fund, this one fits the bill.
Nine lenders have exposure to the promoter entities and had taken listed operating companies' shares as collateral from the promoter companies.
The new fund, which is different from gold exchange traded funds that require subscribers to have a demat account, will also offer investors the option to invest as little as Rs 100 per month, the company said in Mumbai.
While certifying fund managers may seem pertinent, we believe there is still unfinished business with regard to certification of mutual fund distributors.
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.
Protecting India's sovereignty and integrity will be ensured at any cost, Air Chief Marshal Vivek Ram Chaudhari said on Thursday after taking charge as the chief of the Indian Air Force.
The sector needs to move away from such concepts.
Some of the public banks showed improvement; much more still needs to be done
Don't understand the basic difference between dividend payout, dividend re-investment, growth or bonus options? This will help to make an informed decision while investing.
The Delhi high court on Tuesday asked the Centre to reply on a PIL over striking down the Government of National Capital Territory of Delhi (GNCTD) Amendment Act which increases the powers of the lieutenant governor.
if one looks at the valuations of some of the high quality midcaps they have come down to corresponding Index level
Sebi has taken note of mis-selling in the financial sector and is planning to regulate the distributors, the only unregulated part of the MF industry.
'They have helped stabilise our market by acting as a counterbalance to foreign funds.'
Nadira Babbar is now directing a play on the life of celebrated artist M F Hussain.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Many are now hoping the markets remain in good stead as they look to finalise the dates for IPOs, such as UTI MF, Computer Age Management Services, Happiest Mind, and Angel Broking. Most of the issues are expected to come to the market in the second half of September.
Country's largest mutual fund UTI AMC on Friday became a private company with the four sponsors paying Rs 1,236.95 crore (Rs 12.369 billion) to the government.
Leading brokerages and mutual fund houses are busy churning their portfolios, with the markets coming back to life. But they are also seeing churning at the top.
The first private sector MF, Kothari Pioneer was registered in July 1993.
The assets in control of MFs soared to a record high of Rs 17.9 lakh crore last month
Market regulator Sebi has issued show-cause notice to mutual fund companies of Anil Ambani Group.
Our advice: exercise caution and don't get carried away by the exuberance in the markets. \n\n\n\n
ING Vysya Mutual Fund on Tuesday said it has plans to acquire other funds as part of efforts to take its assets to Rs 3,000 crore (Rs 30 billion) this year, six times higher than that in the previous fiscal.
Fund houses have conducted investor camps and awareness programmes in more than 400 cities. Also, the popular 'Mutual fund sahi hai' campaign has helped bring in a lot of new investors into the MF fold from underpenetrated regions.
In most cases, mutual fund rankings leave the investor muddled.
When it comes to the average assets under management among the top five mutual funds, there has been a shuffle in positions. While Reliance Mutual Fund has been able to maintain the number one position at Rs 700 billion, ICICI Prudential has been pushed to number four from second spot by HDFC Mutual Fund. ICICI Prudential was above HDFC by Rs 73 billion in January-end 2008. But at the end of December, HDFC's assets were up by Rs 48.79 billion over that of ICICI Prudential.
UTI MF will also launch six more schemes as part of its growth plans.
Coming down heavily on MF players who in recent past chose to use shareholder fund to buy out debt of bleeding invested companies, Sebi said MFs can't have standstill agreements with companies and will take action against fund houses for such deals.
Investors need to get the timing of entry and exit right to make money in thematic and sector funds, suggests Sarbajeet K Sen.
The Securities and Exchange Board of India's move directing asset management companies (AMCs) to invest more in their new fund offerings (NFOs) could force the industry to go slow on new product launches. At present, AMCs have to invest one per cent of the amount raised during a NFO or Rs 50 lakh, whichever is less.
Investment experts said the key to generating superior returns was "asset allocation" and taking money out of the table from themes that have performed well and into themes that are available at a discount.
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