Domestic fund houses forge pacts with foreign peers to mop up $7 billion.
Larsen & Toubro, Axis Bank, Reliance Industries, UltraTech Cement, Mahindra & Mahindra, IndusInd Bank, ICICI Bank and Tata Steel were the other big gainers. Sun Pharma, HCL Technologies, Asian Paints, Nestle and Infosys were the laggards.
Investor folios exceed 2 million, assets more than double since FY14.
FDs are not advisable for long-term wealth creation as their post-inflation, post-tax returns are not very attractive.
Industry players say they have learnt from the bitter experience of 2008 and have far better checks and balances in place to avoid an encore.
Shrinking inflows and surging outflows on account of profit-booking has curtailed mutual fund (MF) investments in equities since April. The total investments made by equity MFs during the first three months of 2023-24 stands at just Rs 2,980 crore, compared with an average monthly investment of Rs 14,500 crore in 2022-23, reveals data from the Securities and Exchange Board of India. "We are seeing signs of moderation in non-systematic investment plan (SIP) contribution, which has impacted domestic fund inflows in recent months to some extent," says Kunal Vora, head-India equity research, BNP Paribas.
An improved showing of mutual funds (MFs) is helping the industry attract distribution talent at a brisk pace. The industry has onboarded a net of 11,600 individual distributors in the first seven months of 2023-24 (FY24) compared to just 5,555 distributors in the whole of 2022-23 (FY23), according to data from the Association of Mutual Funds in India. Like most financial products, MFs also have significant reliance on individual distributors to sell their products, even as digital platforms are gaining popularity.
If you are a retail investor, you can allocate a portion of the portfolio to the medium- to long-term debt fund category instead of gilt funds.
The BSE SmallCap index gained 106 per cent in the one year ended May 12, 2021.
'Barring a temporary blip where stocks fell on verdict day, we are back to all-time highs.'
Sebi's stewardship code for mutual funds and alternative investment funds lays down six principles to improve corporate governance standards in their investee companies, reports Jash Kriplani.
SEBI said it has cancelled the portfolio management licence held by Sahara Asset Management Company Pvt Ltd
'Granting the country's highest civilian honour to Prime Minister Modi was surprising as it indicated the government was going out of its way to have India as a close partner.'
Investors should avoid jumping from their current funds into those that have outperformed lately, advises Arnav Pandya, a certified financial planner.
Sundaram BNP Paribas Mutual Fund's new fund Sundaram BNP Paribas Equity Multiplier Fund is a closed ended equity scheme with a maturity of 3 years
Worst performers among category funds, but beat sectoral indices
Reliance gold scheme does not require demat account.
Why are DIIs holding such a high stake in Zee, which is beset with alleged governance issues? Perhaps they think Zee is a deep-value stock, observes Debashis Basu.
After eight months of consecutive outflows, equity mutual funds witnessed a net inflow of Rs 9,115 crore in March amid correction in the stock market. Barring multi-cap and value fund categories, all the equity schemes saw inflow last month, data from the Association of Mutual Funds in India (Amfi) showed on Thursday. However, investors pulled out Rs 52,528 crore from debt mutual funds last month, after investing Rs 1,735 crore in February, owing to advance tax payments and other year ending commitments. Overall, the mutual fund industry witnessed a net outflow of Rs 29,745 crore across all segments during the period under review, compared with a net inflow of Rs 4,090 crore in February.
'For the same level of return, you can reduce portfolio volatility significantly with a 10% to 15% exposure to international funds.'
Equity supply may hit Rs 6 trillion soon.
The returns from liquid funds, currently, look better than what savings accounts of leading banks are offering, points out Sarbajeet K Sen.
With the stock markets being on a downturn for most part of the year, many asset management companies (AMCs) are sitting on huge piles of cash or cash equivalents, with some equity-oriented funds holding as much as 40 per cent of their assets in cash, a Crisil report pointed out.
Investors must adopt a balanced approach, incorporating both styles in their portfolios.
'Historically, equities have consistently outperformed debt, gold, property, and other assets over a reasonable period.'
British telecom player Vodafone on Wednesday said it has sold an 18 per cent stake in Indus Towers for 1.7 billion euro (about Rs 15,300 crore). Meanwhile, Bharti Airtel has increased its stake by acquiring 2.69 crore shares, representing a 1 per cent stake, in Indus Towers. The shares were acquired by Airtel at an average price of Rs 320 apiece, taking the transaction value to Rs 862.38 crore, as per the bulk deal data.
Break the chains of debt, invest in your future, and wave the flag of financial independence high. Freedom awaits, comrades. Let's conquer this battlefield together this Republic day, exhorts Vatsal Ramaiya.
managers said the weaker rupee, which has driven up shares of technology companies, has helped the fund fetch better returns.
Shah had pleaded guilty in 2012 to securities fraud in a parallel civil insider trading case case.
Fund managers have favoured stocks in the financial services and automobile spaces, which include IDFC, PNB, Maruti Suzuki and Hero MotoCorp.
In a statement, the central bank said heightened volatility in capital markets in reaction to Covid-19 has imposed liquidity strains on mutual funds (MFs), which have intensified in the wake of redemption pressures related to closure of some debt MFs and potential contagious effects therefrom.
Many retail investors, who are experiencing their first bear market, are shocked at the erosion in the value of their mutual fund (MF) portfolios. The pain is especially acute for those who had taken excessive exposure to sector/thematic and small-cap funds. Even international diversification has failed to stanch the bleed in this downturn.
Lay investors should steer clear of pharma funds and instead invest in a well-managed diversified equity funds.
This year's tally is the second best ever after 2022 when 16 firms raised Rs 40,311 crore, led by LIC's biggest-ever IPO.
The assets under management of the 44-players mutual fund industry stood at Rs 24.55 lakh crore in May-end from Rs 23.93 lakh crore in April-end.
The new entrants into the Indian mutual fund industry are making big strides through a plethora of new fund offerings and fixed income schemes as they grow their assets under management at a fast pace. Fund house Lotus Asset Management Company, which was launched just a year ago, has seen its assets grow from Rs 6,385.86 crore (Rs 63.85 billion) to Rs 8,142.93 crore (Rs 81.42 billion) in October, a steep rise of 27.5 per cent.
According to sources, the two fund managers allegedly made illicit gains worth Rs 150 crore to Rs 200 crore through front-running.
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