Major fund houses report a sharp rise in online transactions, driven by changing investor habits, distributor behaviour, and fast-growing fintech platforms.
Even after the split, UTI Mutual Fund continues to hold the largest market share of 14.47 per cent closely followed by ICICI Prudential, HDFC Standard Life and Templeton in the over Rs 1,00,000 crore (Rs 1,000 billion) industry.
M Damodaran is likely to head the new market value-based UTI Mutual Fund, promoted by LIC and three leading banks, after the new fund becomes operational from February 1.
The BSE Sensex plunged by about 35 per cent in the last six months. The benchmark index which was over 20,000 level in January, is currently hovering around 13,000. Pre-IPO placement that was intended to offload about 11 per cent of the post diluted shares has also been put on hold, sources said pointing out that the company would revisit its capital raising plan once the market condition improves.
Backed by their strong physical presence across the country, UTI Mutual Fund and SBI Mutual Fund (MF) have managed to mobilise a higher proportion of their total assets under management (AUM) from towns and villages than their peers. Data compiled by Nuvama Institutional Equities shows that UTI MF and SBI MF are the only two major fund houses with over a fifth of their AUM coming from areas beyond the top 30 cities (referred to as B-30). UTI MF tops the chart with 23.8 per cent of its assets belonging to B-30 centres, followed by SBI MF with 21.2 per cent B-30 assets. The industry average stands at 17 per cent.
T S Vijayan, whose five-term as the chairman of government-owned Life Insurance Corporation of India (LIC) ended on Tuesday, is likely to shift to UTI Mutual Fund as the new head.
UTI MF will also launch six more schemes as part of its growth plans.
But there is a possibility of conflict of interests in the theoretical sense.
There are various mutual fund schemes to choose from, such as equity-diversified funds, mid- or small-cap funds, debt funds and so on.
The FIIs, after being bearish on India since November 2010, turned positive post the Union Budget presentation, which largely addressed the challenges relating to growth and liquidity despite surging inflation.
An electrical engineer by education and an IAS officer of 1975 batch, Bhave engineered and administered numerous changes in Indian markets ever since taking charge as Chairman of the Securities and Exchange Board of India on February 17, 2008.
Domestic fund houses forge pacts with foreign peers to mop up $7 billion.
The Bombay high court has stayed the Central Information Commission's order on the applicability of the Right to Information Act 2005 on UTI Asset Management Company. UTI Mutual Fund and UTI Trustee company had filed a writ petition challenging the CIC order.
Reliance Mutual Fund and UTI Mutual Fund have applied to Sebi to start schemes that will collect money directly from investors and buy units in Gold Exchange Traded Funds. Though at a slightly high cost, these schemes take away the hassle of maintaining demat and trading accounts with brokers. "These two factors were the biggest hindrance for gold ETFs," said Devendra Nevgi, ex-CIO, Quantum Asset Management. Nevgi started the gold ETF at the fund house.
Fund houses ape peers' products to lure investors. Popular themes are banked on to attract investors' attention.
Last week, the Pension Fund Regulatory Development Authority (PFRDA) appointed State Bank of India, UTI Mutual Fund and the Life Insurance Corporation as fund managers for the schemes to manage the corpus that has accumulated since the NPS was launched in January 1, 2004. At present, the NPS is restricted to all central government employees who have been recruited after January 1, 2004.
With the listing of Reliance gold ETF on the National Stock Exchange (NSE) on Wednesday, four fund houses (Benchmark, UTI Mutual Fund and Kotak Mutual Fund being the other three) currently offer gold ETFs to Indian investors.
Mutual funds are all set to capture the buoyancy in the energy sector. The latest to join the bandwagon is Sundaram BNP Paribas Mutual Fund, which is coming out with a three-year, closed-ended new fund offering 'The Energy Opportunities Fund'. The fund will invest in equity and equity-related instruments of companies focussed on the energy space or those directly or indirectly benefiting from it.
This comes on the back of impressive performance in infrastructure stocks in 2006 and in the first seven months of this calendar.
The country's leading fund manager UTI Mutual Fund is likely to enter the capital market with its public issue by the end of current fiscal and has already got the approval from its board for the IPO.
State-run UTI Mutual fund has toppled private sector ICICI Prudential to be the country's second biggest fund house, while Anil Ambani Group's Reliance MF has retained its top position.
You will soon be able to invest in gold in the paper form through Benchmark Mutual Fund's Gold Exchange Traded Fund.
2006 has been the year of the winners. Almost all asset classes have performed well. CNBC Awaaz spoke to a mix of experts to understand what kept the market moving.
Reliance Mutual Fund topped the AUM chart with its AUM in excess of Rs 660 billion, while ICICI Prudential Mutual Fund came second with an AUM of Rs 487 billion.
The country's biggest mutual fund, UTI Mutual Fund, on Monday announced the launch of its new scheme 'UTI-Dividend Yield Fund', which will invest in 60-70 high dividend yield stocks.
Paper gold saves your investments from volatility, and you from hassles that come with the physical form. The chance of good returns gives that extra shine.
Now that the gold exchange traded funds (GETFs) are being sold in the market, let's look at a few things to understand them better.
Four regionally strong banks -- Bank of India, Corporation Bank, Allahabad Bank and Oriental Bank of Commerce -- are in the fray to buy out sponsor's stake in UTI Mutual Fund that manages assets worth Rs 20,000 crore
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