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.
Experts believe the new norms may be an indirect way for Sebi to apply the brakes on dividend option plans in MFs.
The Securities and Exchange Board of India (Sebi) on Monday relaxed the norms for valuing perpetual bonds. The norms, which had sought to value banks' deemed residual maturity of Basel III additional tier 1 (AT1) bonds as 100-year debt from April 1, were strongly opposed by the finance ministry. In a statement released on Monday, the regulator said the maturity would be 10 years until March 31, 2022, and would be increased to 20 and 30 years over the subsequent six-month period.
Fund managers's compensation is largely tied to the assets they manage and scheme performance.
Nine lenders have exposure to the promoter entities and had taken listed operating companies' shares as collateral from the promoter companies.
Some of the public banks showed improvement; much more still needs to be done
Investors continue to back-up equity mutual funds in June as such schemes attracted a net inflow of Rs 15,498 crore on strong flows from systematic investment plans despite volatility in the stock market and relentless selling by Foreign Portfolio Investors (FPIs). This also marked the 16th straight month of positive inflow in equity schemes. Inflows into equity mutual funds in June was lower compared to the net inflow of Rs 18,529 crore seen in May, data from the Association of Mutual Funds in India (AMFI) showed on Friday.
Our advice: exercise caution and don't get carried away by the exuberance in the markets. \n\n\n\n
Market regulator Sebi has issued show-cause notice to mutual fund companies of Anil Ambani Group.
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.
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.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
The first private sector MF, Kothari Pioneer was registered in July 1993.
In most cases, mutual fund rankings leave the investor muddled.
Air Marshal Chaudhari is presently serving as Vice Chief of the Air Staff.
UTI MF will also launch six more schemes as part of its growth plans.
Mihir Tanna, Associate Director, S K Patodia & Associates, will answer your personal income tax queries.
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.
'Any normalisation exercise will bring its share of volatility.'
FPIs' ownership in NSE-listed companies reached a five-year high of 22.74 per cent in December 2020 on the back of huge net inflow of Rs 1.42 lakh crore by such investors in the third quarter.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
HDFC Mutual Fund on Thirsday completed acquisition of Zurich fund to become one of the largest players in the country.\n\n\n\n
Effective from 12 June in Select Focus, Growth and Midcap Select Fund Sundaram Mutual, a trusted name in the mutual fund industry, has removed the entry load for investments above Rs. 25,000.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Infrastructure funds, which bet on stocks closely linked with infrastructure development in the country, have emerged as one of the best-performing categories over the past year. They have generated an average return of 90.63 per cent - the third-best, after technology funds and small-cap funds. Of the 21 schemes in the category, seven have given a return of more than 100 per cent in a year.
The assets in control of MFs soared to a record high of Rs 17.9 lakh crore last month
UTI Asset Management Company, the country's fourth-largest mutual fund, is reviewing its proposed initial public offering in view of the turbulence in the global financial markets and the meltdown in Indian equities. The management is having a rethink on the IPO because of the bearish sentiment prevailing in the markets and a lack of investor appetite, according to a source familiar with the development.
When Deutsche Asset Management Company (AMC) listed its debt scheme - DWS Fixed Term Fund-Series 43 (growth option) - on the Bombay Stock Exchange (BSE) on April 4 this year, little did they know that within 24 days the scheme's net asset value (NAV) would double to Rs 20.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Listen to soothing song from Meenaxi and Gaja Gamini
Maqbool Fida Hussain, who rose from a Bollywood billboard artist to India's most celebrated painter worldwide, died in London on Thursday, away from home on a self-imposed exile.
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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).
Barjeel Geojit Securities has launched an online platform for NRIs to trade Indian Mutual Funds.
As a New Year gift to mutual fund investors, market regulator Sebi on Monday exempted them from payment of entry fee on applications filed directly to the asset management companies (AMC).
5 steps to find out which mutual fund company you should trust your money with.
Mid and small-cap stocks have been the stars of Indian stock markets this year. Recognising this, mutual funds have launched a plethora of schemes targeted at this universe of stocks this year.
When mutual funds merge schemes, there is a tax implication on the investor. Some calculations on how this works.
