Kolkata tops the list with 617 cancellations, New Delhi stands second with 203, followed by Mumbai at 190.
"Fund houses look at merging schemes where there is a duplicity of content or if the scheme has been underperforming historically," says Aashish Somaiya, head (retail business), ICICI Prudential AMC.
Wondering if you did the right thing with your mutual fund investments?
The Department of Telecommunications (DoT) has initiated discussions with banks to address financial stress in the telecom sector, particularly Vodafone Idea Ltd (VIL) that urgently requires fund infusion to stay afloat. There was a meeting of DOT officials and senior bankers on Friday on the issue of Vodafone, sources said, adding that banks have been asked to look for a solution within the prudential guidelines. According to sources, senior officials from the country's biggest lenders State Bank of India and Bank of Baroda were also present among others in the meeting. More such meetings are expected to take place in the coming days, they said.
New norms are in place to strengthen regulations for this set of lenders which has been playing a critical role in Asia's third largest economy, notes Tamal Bandyopadhyay.
Investment guru and mutual fund expert Ashok Kumar, answers all your MF related queries.
'Investors need to understand that these schemes may not do well in the market that is in a bull run, but quality stocks would protect the downside.'
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
New-generation private sector banks such as ICICI, HDFC, Axis, Kotak etcetera owe their existence to the recommendations of the first Narasimham Committee.
'Investors should allocate about 5% to 10% to such funds.'
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, will answer your queries.
The BSE SmallCap index gained 106 per cent in the one year ended May 12, 2021.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Experts say investors should stay patient and stay invested in mutual funds.
A day after Prudential bought out AIG's Asia arm, AIA, top executives of both AIG and Tata AIG met the Insurance Regulatory & Development Authority to keep the latter abreast of developments.Sources at Tata Sons told Business Standard they had decided to buy out AIG's stake in the life insurance business. And, would consider inducting a partner at a later stage.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
'There is no need to do anything, let your SIPs get deducted every month, and stick to your allocation between equity, fixed income and emergency funds and your risk covers.'
We are very positive on emerging markets, says John Praveen, MD, Prudential Investment Advisors.
Analysts attribute this withdrawal trend to the nervousness ahead of US presidential elections and the fact that the markets raced ahead even as the economic recovery remained fragile back home.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
"There is a large workforce working as agents for life insurance companies and other banking and financial products who require specialised training as financial advisers," ICICI Prudential AMC, head -- retail sales and distribution, Vikram Kaushal said. Of the estimated 68,000 financial advisers available in the country, almost 38,000 are working for ICICI Prudential, he said.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Sources said that this is a contingency plan, in the event of an exit of the present heads of its two subsidiaries ICICI Prudential and ICICI Ventures. At present, Shikha Sharma is managing director & chief executive officer (CEO) of ICICI Prudential Life Insurance, while Renuka Ramanathan is managing director and CEO of ICICI Ventures.
Our focus around technology, cost efficiency, persistency and effective distribution channel will continue, says the ICICI Bank MD and CEO.
'We have great demographics, and are the fastest growing large economy. And we save.' 'All of which is great for financial services,' Aditya Birla Capital CEO Ajay Srinivasan tells Niraj Bhatt.
Leading private financial players HSBC and ICICI Prudential along with country's largest bank SBI have been shortlisted to manage about Rs 25,000 crore (Rs 250 billion) in provident fund of about four crore employees annually.
The fall in the equity markets was to put some pressure on the balance sheets of the top five asset management companies (AMCs) in the country. But, two of them have managed to buck the trend, thanks to the rise in their average assets under management (AAUM).
This product was first introduced by ICICI Prudential Mutual Fund (ICICI Prudential FMP Series 33) and Deutsche Mutual Fund in February. Recently, Birla Sun Life Mutual Fund has also floated a similar fund. The Nifty return, multiplied by the participation ratio (that is pre-decided by the fund) is the final returns. In Aviator, the participation ratio is 140-145 per cent, leading to returns of 43.14-44.5 per cent in our given example.
Without exception, the top four majors beat Street estimates across all parameters - revenues, profitability, or net profit growth. However, what stood out were the large deal wins reported by the big two, TCS and Infosys.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your 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.
Moratorium was only a temporary reprieve to borrowers affected by the pandemic, adding that a longer moratorium period exceeding six months can impact credit behaviour of borrowers and increase the risks of delinquencies post resumption of scheduled payments.
36 summers have gone by but Kapil Dev's toothy grin with the Prudential Cup remains the most defining moment in Indian cricket.
Biometric cards contain the details of policyholders such as name, age, address and finger prints. Besides helping the customers to pay their renewal premiums, the card will facilitate claim processing. It authorises transactions based on the customer's fingerprints.
Investor folios exceed 2 million, assets more than double since FY14.
'Internet, healthcare and life insurance are a few sectors which offer solid long-term decadal potential.'
LIC, ICICI Prudential invest Rs 13,000 crore (Rs 130 billion) and Rs 2,000 crore (Rs 20 billion) respectively in the first quarter of FY09.
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.
