Mutual funds (MFs) are seeing higher growth in new systematic investment plan (SIP) accounts in rural areas (beyond 30 or B30 centres) compared to the top 30 (T30) cities. However, the average inflows from these areas remain significantly lower than those from the larger centres. Data from the Association of Mutual Funds in India reveals that investors from B30 contributed Rs 1,725 on average to MFs through SIPs, which is 70 per cent lower than the average ticket size of T30 investors at Rs 2,940.
A special court in Mumbai has directed the Anti-Corruption Bureau (ACB) to register a first information report (FIR) against former Securities and Exchange Board of India (SEBI) chairperson Madhabi Puri Buch and five other officials in connection with alleged stock market fraud and regulatory violations.
An analysis of buy and sell transactions by mutual funds during May shows that the fund houses purchased stocks from sectors like power, software, housing finance and sugar, while offloading shares from banking, refineries and airlines. According to brokerage firm Sharekhan, state-run NTPC, ONGC, TCS, Essar Oil and Reliance Petroleum figure among the favourite picks by the equity funds in the month of May.
The BSE SmallCap index gained 106 per cent in the one year ended May 12, 2021.
Hyundai Motor India (HMIL) raised Rs 8,315 crore from anchor investors on Monday, setting the stage for the country's biggest-ever maiden share sale. The Indian arm of the South Korean carmaker Hyundai Motor Company (HMC) allotted 42.4 million shares to 225 funds at Rs 1,960 apiece, the higher end of its price band. Among the investors receiving allotments were the Singapore government's sovereign wealth fund (GIC), New World Fund, and Fidelity.
Regarding the applicability of stamp duty on redemption of mutual fund (MF) units, Sebi said, "Redemption is not liable to duty as it is neither a transfer nor an issue nor a sale." However, switching in mutual fund would attract stamp duty. "The issue of fresh units in the switched scheme would attract stamp duty even though there is no physical consideration paid or transfer of ownership," Sebi said.
If you don't make the necessary adjustments after October 1, 2024, you'll stop earning interest on accounts that aren't in compliance rediffGURU Milind Vadjikar
Mutual fund houses have been on an equity buying spree in the past three months as they have invested a net amount of Rs 55,000 crore in them between January and March 2023. The number is more than double the amount deployed in the preceding three months (October to December), signalling improved valuations and favourable economic indicators. The valuations, which had peaked in October 2021, returned to its long-term average in March 2023.
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.
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.
US and European institutional investors bought a majority of shares in the over Rs 4,800 crore (Rs 48 billion) QIP offering by telecom operator Reliance Communications.
'Investors should focus on largecap funds, flexicap funds, business cycle funds, or hybrid-category funds.'
The FATF statement comes in the backdrop of Indian authorities highlighting Pakistan's persistent support for terrorism and its funnelling of multilateral funds for arms procurement.
'The government is actively engaging with EU to ensure that concerns of Indian companies and hard-to-abate sectors are adequately addressed under CBAM'
Gold exchange-traded funds (ETFs) have further lost favour among Indian investors.
FOMO-driven investing is reshaping India's stock market. Swati Saxena explains how social media hype fuels risky bets and how to protect your wealth.
The RBI's financial stability report has on Wednesday highlighted the disconnect between the real economy and equity market yet again. The central bank observed that Indian equities were trading at rich valuations, with several metrics such as price to earnings multiples, price to book ratio, market cap to GDP and the cyclically adjusted P/E ratio, or Shiller P/E, at above historical averages. For instance, as on December 13, the one-year forward P/E ratio for India was 35.1 per cent, above its 10-year average, and one of the highest in the world.
'Given the inherent volatility, investors should take at least a three to five-year view.'
Stock markets in structural bull run but there can be bouts of volatility says Ravi Gopalakrishnan, head, equities, Canara Robeco Mutual Fund
In this round, the market has won. But it is still for Gautam Adani to decide whether he has lost or not, argues Shekhar Gupta.
Ulhas Joshi, Head -- Sales, Rank MF, a mutual fund investment platform, answers your queries.
Tactical investors should have an investment horizon of around six months to one year, long-term investors should stick around for 10 years or more.
'I don't think we have ever seen such alignment of everything that we need in the banking sector.'
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.
Inspired from a real life incident, this is the story of how Aarti buckled herself up after her divorce and rebuilt her financial life.
Technology, auto, FMCG and pharmaceutical stocks may be the most battered sectors of the Indian stock market this year. But select mutual fund schemes were able to notch up good returns despite being in these sectors by tweaking the investment mandate and smart stock-picking within the mid- and small-cap segments.
Bangladesh has demanded a public apology and compensation from Pakistan for the 1971 atrocities, raising "historically unresolved issues" during the first foreign secretary-level talks between the two countries in 15 years. Dhaka also asked Islamabad to pay USD 4.3 billion as its share from the combined assets at the time of East Pakistan's split from West Pakistan in 1971 to form an independent Bangladesh.
'Any earnings, regardless of location, will be subject to Indian income tax.'
Various online platforms let you invest in direct mutual funds.
'...you can't become a slave of it, but certainly there are huge advantages to using Artificial Intelligence.'
In other debt-oriented funds, retail assets jumped from about Rs 45,000 crore to Rs 64,000 crore.
Retirement planning and secondary sources of income have become key financial priorities for Indians, as they look to prepare for higher inflation, health concerns, and economic slowdown risks. PGIM India Mutual Fund's Retirement Readiness Survey shows that at present 67 per cent Indians have their retirement plan in place, compared to 49 per cent in 2020. "The pandemic was probably the factor making people realise the importance of saving and investing, leading to an increase in people planning for it.
Singapore is slated to bring in Singapore Variable Capital Company, a new legal entity which can be used as a vehicle for investment. SVACC is expected to simplify the process of redemption for open-ended funds.
The price of bitcoin, the bestselling cryptocurrency, has shrunk nearly three times this year to mark the fate of such digital assets. Crashing prices, regulatory uncertainty and taxes have put Indian crypto exchanges in troubled waters. Finance Minister Nirmala Sitharaman's budget for FY23 announced a 30 per cent tax on any income from the transfer of virtual digital assets.
New York-headquartered hedge fund BlackRock Inc has acquired the 40 per cent stake held by Merrill Lynch in mutual fund DSP Merrill Lynch Fund Managers, in a move that signals the world's fifth largest asset manager's entry into the booming Indian market.
Hospital chain Aster DM Healthcare's plans to sell its Gulf business may run into rough weather with voting advisory firm Institutional Investor Advisory Services (IiAS) raising concerns over the transaction. Recommending an 'against' vote on the resolution, IiAS has said there is no clarity on how Aster DM will utilise the proceeds that it will obtain by selling the unit, which contributes to bulk of its revenues. In November, Aster DM had announced its plans to sell its wholly-owned subsidiary Affinity Holdings, which conducts business in the Gulf Cooperation Council (GCC) region, to Alpha GCC for $1 billion.
Of the 70 international feeder funds, more than half have made losses in 2014.
India had better be prepared. Munir could be back at our throats soon, even within the next 12 months, warns Shekhar Gupta.
