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.
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.
While comparing portfolios of various mutual fund schemes, investors must keep the following points in mind. Read on:
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.
Rules applicable from April 1, 2014; investors who have already redeemed will also have to pay tax
The assets under management of mutual funds are likely to cross Rs 600,000 crore (Rs 6 trillion) by the end of this fiscal as the continuing bull run in the stock markets and launch of new schemes by fund houses lures more investors.
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.
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.
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.
A Sebi concept paper put out today for feedback from the public said investors buying mutual fund products need not pay entry load for applications filed online or through collection centres of asset management companies.
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ICICI Bank, HDFC Bank, Infosys, SBI and L&T among fund managers' preferred bets.
At present, 60 per cent of the mutual fund industry's corpus comes from fixed income schemes, which invest in stable return giving instruments such as government securities and bonds.
The Aditya Birla group, led by Kumar Mangalam Birla, has taken charge of its mutual fund joint venture with Sun Life Financial of Canada by buying 1 per cent stake from the latter.
UTI Asset Management Company will float an initial public offer by March-end 2008 to help its sponsors State Bank of India, Life Insurance Corporation, Punjab National Bank and Bank of Baroda -- offload up to 50 per cent stake.
The guidelines for Real Estate Mutual Funds, which are being worked out by a panel appointed by the Securities and Exchange Board of India, are likely to contain suggestions for quarterly disclosure of net asset value.
Fundraising via equity NFOs highest since 2008; Over Rs 11K cr collected in first eight months of 2017, says Chandan Kishore Kant
Steep volatility in the markets has made fund managers cautious, awaiting opportunities to deploy the cash.
Market regulator also announces measures for mutual funds sector.
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.
Ten Indian states contribute a lion's share of 95% or Rs 12.25 lakh crore.
In 2013-14, as many as 45 people each earned more than Rs 1 crore (Rs 10 million) commission as a mutual fund (MF) distributor. This is up from 33 in 2012-13 and 22 in 2011-12.
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A combination of fewer listings and falling 'average daily traded value' contributed to the drag in Q3.
The Securities and Exchange Board of India on Monday approved guidelines for real estate mutual funds.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Many investors are lured with dividends that mutual funds pay, without realising that they are getting their own money back.
Investors need to get the timing of entry and exit right to make money in thematic and sector funds, suggests Sarbajeet K Sen.
Thirty-five schemes are back in the dividend list in 2005, while 17 mutual fund schemes that paid dividends in 2004, have not announced any dividend as of yet.
At gross level, MFs mobilised Rs 43.67 lakh crore (Rs 43.67 trillion) in August.
The retail frenzy over initial public offers (IPOs) seen over the past few months is not without reason. Over the past two years, 61 companies have tapped the primary market and raised funds via IPOs. Of these, 24 companies (nearly 39 per cent companies) have more than doubled at the bourses with Happiest Minds, IndiaMart Intermesh, Indian Railway Catering and Tourism Corporation (IRCTC), Affle India and Route Mobile surging 468 per cent to 722 per cent since their listing date till now. Retail participation in the equity market, according to analysts, has just reached an inflection point due to the low interest rate regime amid lack of investment-worthy avenues that can generate a good return for investors.
The Securities and Exchange Board of India has recommended reservation for domestic mutual funds within the quota allocated for "anchor investors" in initial public offers.
The strong inflow in MF schemes coincided with a gain in BSE's benchmark Sensex by two per cent last month.
Corporate houses, banks and financial institutions account for more than half of the mutual fund industry's total assets under management, while retail investors hold less than one-fourth of the assets, a report says.\n\n
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