Good times for mutual fund investors are continuing.
Investors must invest in a manner appropriate to their age, income stream, return expectations and risk appetite.
Capitalising on the strong market sentiment, Chola Mutual Fund has launched an open-ended equity scheme Chola Multi-Cap Fund and targets to raise Rs 75 crore (Rs 750 mn) through the initial public offering.
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.
Flow surge in equity schemes is an important reason why Indian stock market did not crash.
Mutual fund investors may soon have to give separate cheques to distributors as commission.
Finance Minister P Chidambaram has decided to impose 20 per cent tax on corporate unit holders of mutual funds.
While there is inherently nothing wrong with investing in an IPO, the decision to invest in one should be triggered by its ability to fill a gap in the investor's portfolio.
At least 150 of the 205 employees at Lotus India Mutual Fund may lose their jobs.
Over 700,000 new investor accounts have been opened so far in FY15.
Continuing efforts to boost the capital market, Sebi on Wednesday decided to tweak the 25 per cent minimum public shareholding requirement for companies undergoing insolvency process, segregate assets as well as liabilities of mutual funds, and ease norms governing promoter participation in follow-on public offers. For the mutual fund segment, the watchdog also relaxed the profitability criteria and mandated minimum Rs 100 crore net worth requirement for entities to become sponsors of mutual funds. The board of Sebi, at its meeting on Wednesday, also cleared amendment regulations pertaining to market intermediaries to avoid duplication of proceedings before the designated authority and the designated member.
DSP Merrill Lynch Mutual Fund on Monday launched three new schemes and targets to raise Rs 750 crore (Rs 7.50 billion) through the initial public offering for these schemes.
The central bank opened a special 14-day repo window of Rs 20,000 crore to enable banks to raise money and lend to the funds, but received only four bids for Rs 3,500 crore. RBI uses the repo route to lend money to banks and enhance liquidity in the system.
Fatca aims to track all US residents with non-US accounts and US citizens, too.
The previous high was in February this year when investment in the sector rose to Rs 28,784 crore or Rs 287.84 billion.
Fund managers have been advising investors not to keep their return expectation higher
Most large fund houses, such as HDFC MF, ICICI Prudential AMC, Reliance MF, Reliance MF, Birla SunLife MF and SBI MF, have the backing of large banks or financial institutions, giving them reach and understanding, they say.
T S Vijayan, whose five-term as the chairman of government-owned Life Insurance Corporation of India (LIC) ended on Tuesday, is likely to shift to UTI Mutual Fund as the new head.
Investing in mutual funds, stocks or any other asset is always rewarding if you hold on to them for at least five years or more.
Sinha says many fund houses not abiding by rules on minimum number of investors, awareness funds
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.
With a slew of measures for mutual fund investors, Sebi has regulated that Selling of bonus units in mutual funds before nine months can lead to more tax liability, but it does not apply to stocks. This is because an amendment was made in the Income Tax Act, which prevents tax payers from 'bonus stripping'. This provision mentions that if there is any loss when the investor redeems bonus units in the first nine months the loss will not be considered as part of taxable income.
Rules applicable from April 1, 2014; investors who have already redeemed will also have to pay tax
Amid lowering of bank deposit rates and falling yields from traditional investment vehicles like gold and real estate, investors are fast shifting to financial assets. The MF sector is emerging a clear beneficiary of this trend.
Of the 280-odd equity schemes that have been in existence for five years or more, 190 funds or about 70 per cent of those funds have outperformed their respective benchmark indices.
The move follows the near Rs 60 crore (Rs 600 million) redemptions every month from the US-64 and ARS bonds in the last couple of years.
Union Bank of India said HDFC Mutual Fund tied up with the bank to distribute its mutual fund schemes across India.
While comparing portfolios of various mutual fund schemes, investors must keep the following points in mind. Read on:
Unit Trust of India Mutual Fund, which commenced operations at the beginning of this month, is targeting to double its Assets Under Management to Rs 30,000 crore (Rs 300 billion) in the next 12 months, chairman and managing diector M Damodaran said.
Indian asset management companies (AMCs) are likely to see a hefty spike in their valuations, after the last week's 5 per cent equity stake sale by Reliance Mutual Fund to US-based hedge fund Eton Park.
