Following the 30-day moratorium placed on Yes Bank, asset management companies have asked their clients, who have bank accounts with the troubled lender, to furnish details of alternate accounts for receiving redemption payouts. Redemption is the return of an investor's principal on a fixed income security such as a bond, mutual fund or preferred stock.
Stick to low-cost ULIPs launched in the past few years. Go with an insurer with a good investment team and solid track record of long-term returns, suggests Sanjay Kumar Singh.
Why can't we have a sunset clause for the ARCs, which is a global norm? questions Tamal Bandyopadhyay.
Affordable pricing, a variety of themes, and the ease of transacting are among key reasons that have made smallcases a hit among young investors.
Sebi had also ordered the fund house to compensate investors who had redeemed their units since the date of allotment of shares in the I-Sec IPO.
Finance Minister Nirmala Sitharaman presented her third Budget on February 1.
Kochhar retires by rotation, and being eligible, has offered herself for reappointment as director, said the broking arm in a notice for its Annual General Meeting to be held on August 30
This recognition is a testimony of India's strong belief in promoting entrepreneurship
Franklin Templeton Asset Management (India) on Tuesday said it strongly disagrees with the findings in Sebi's order in the case of winding of six debt schemes in 2020 and has decided to challenge the direction in Securities Appellate Tribunal (SAT).
Kapoor and his associate entities owned 10.6 per cent in the bank at the end of June 2019.
Fitch Ratings on Wednesday said India's high fiscal deficit would pose a challenge in lowering the debt to GDP ratio, which is expected to rise above 90 per cent in the next five years. It said India entered the pandemic with little fiscal headroom from a rating perspective. Its general government debt/GDP ratio stood at 72 per cent in 2019, against a median of 42 per cent for 'BBB' rated peers.
While a DFI will help banks derisk their loan portfolios, creation of a bad bank will clean up their balance sheets.
The finance minister was speaking after launching the maiden IDF scheme of IIFCL Mutual Fund in New Delhi on Tuesday.
Outflows are likely to continue, experts say, till such time as the markets see a significant correction.
These are testing times for the mutual fund industry.
Finance Minister Nirmala Sitharaman's Rs 30,600 crore government guarantee for the bad bank has changed the body language of bankers for the better, observes Tamal Bandyopadhyay.
Sebi on Monday imposed a penalty totalling Rs 15 crore on senior officials of Franklin Templeton AMC and its trustee for violating regulatory norms in the case of winding up of six debt schemes in 2020. However, a spokesperson of Franklin Templeton said they disagree with the findings in Sebi's order and intend to file an appeal with the Securities Appellate Tribunal (SAT). A fine of Rs 3 crore has been levied on Franklin Templeton Trustee Services Pvt Ltd and Rs 2 crore each on Franklin Asset Management (India) Pvt Ltd President Sanjay Sapre and its chief investment officer Santosh Kamat, according to the Sebi order. In addition, the regulator imposed a penalty of Rs 1.5 crore each on fund managers -- Kunal Agarwal, Pallab Roy, Sachin Padwal Desai and Umesh Sharma -- as well as former fund manager Sumit Gupta.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Instead of getting swayed by market gyrations, investors must stay invested for the long term, advises Sarbajeet K Sen.
The Department of Disinvestment, which is the nodal department for carrying out PSU stake sale, will finalise the cabinet note after appointment of asset management companies to handle PSU ETF.
The deal values the firm at more than $9 billion.
Birla takes over as chairman after his group increased its stake to 51 per cent in November 2012 from the earlier 50 per cent.
Find out which kind of mutual fund scheme you should invest in by taking into account your financial goals and investment time horizon.
V Prem Watsa, the India-born billionaire and promoter-chairman of Toronto-based Fairfax Financial Holdings, a $30-billion plus insurance and investment company, is often referred to as the "Canadian Buffett," a reference to the famous billionaire founder of Berkshire Hathaway, Warren Buffett.
Fund house that is bought out has to give investors a month to redeem investments without exit load if they don't wish to continue with the new fund mgmt company.
Close to 21.5 per cent of this will be sold to Japan's Nippon Life, which will then become the sole promoter of the fund house.
To discourage investors from quick sell-offs, fund houses have started raising exit loads - a penalty charged when investors redeem investments before a specified time.
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.
Staggered pull-out will help investors if the market continues to rise.
It will take over large non-performing assets of banks and help in revive companies ridden with bad debts.
Industry body Association of Mutual Funds in India on Friday assured investors that a majority of fixed income mutual funds assets are invested in superior credit quality securities and such schemes have appropriate liquidity to ensure normal operations. The statement by the industry body came after Franklin Templeton Mutual Fund voluntarily decided to wind up its six debt schemes citing redemption pressure and lack of liquidity in bond markets due to the coronavirus pandemic.
According to a notification on Saturday, the "services rendered by a mutual fund agent or distributor to mutual fund or asset management company for distribution or marketing of mutual fund" form part of 34 items exempt from service tax.
An interview with executive director V Srinivasa Rangan.
The IPO is an offer for sale of 38 million shares by SBI, BOB, LIC, PNB and T Rowe Price. Barring T Rowe and PNB, the others are selling stake to comply with Sebi norms.
'Money that came into mutual funds near the previous peaks -- the second half of 2017 and 2018 -- has in most cases experienced unflattering returns.' 'A large proportion of redemptions could be such inflows exiting when the market recovered sharply from July 2020 onwards.'
The pre-Budget proposals sent to the finance ministry aim to bring uniformity in tax treatment for investments in different financial sectors, mitigate hardship to retail taxpayers, and encourage participation in mutual funds.
EPFO's advisory body FIC on Thursday shortlisted five entities --ICICI Securities, Reliance Capital, HSBC Asset Management Company, SBI and ICICI Prudential -- for managing its corpus of Rs 3.5 lakh crore (Rs 3.5 trillion).
If the nominations are not in place, the heirs need to go through a lengthy process to get access to the money cautions Bindisha Sarang.
The Finance Ministry is considering a proposal to set up a National Asset Management Company that may act as a nodal agency for taking over bad loans of banks and help revive sick units.
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