Securities and Exchange Board of India (SEBI) is considering removing the cap on annual investment made via online transactions. Currently, investors can only invest Rs 50,000 per fund house in a financial year. This move is expected to ease the entry of new investors and help mutual funds increase their penetration in smaller towns. In […]
The mutual fund industry received net inflow of Rs 1.7 lakh crore in April 2016 with liquid and money market segments contributing the most. The corresponding figure for April 2015 was Rs 1.1 lakh crore. According to Association of Mutual Funds in India (AMFI) data, the investors poured in a net investment of Rs 1,70,161 […]
Reliance Capital Asset Management Ltd. is in talks to acquire the Rs.7501-crore portfolio of JP Morgan Asset Management India Pvt. Ltd. This acquisition, if concluded, will close the gap between Reliance Mutual Fund and its two biggest rivals, ICICI Prudential Mutual Fund and HDFC Mutual Fund. As on 31 December 2015, Reliance MF’s total assets under management (AUM) […]
Mutual Funds have emerged as one of the most popular investment options for individuals looking to grow their savings over the long term. One of the primary factors behind their popularity is their flexibility. Mutual funds investments can be availed for amounts as small as Rs. 500 and for as long or as short an […]
ICICI Prudential Asset Management Company (AMC) has surpassed HDFC AMC to become the largest mutual fund house in the country in terms of assets under management (AUM). As on 29 February, ICICI Prudential's AUM stood at Rs1,74,439 crore as against HDFC MF’s Rs 1,70,411 crore, ending HDFC's 5-year dominance as the largest mutual fund house. […]
As per the latest requirements, mutual fund investors will have to provide additional know your customer (KYC) details relating to their gross annual income, net worth and beneficial ownership by December 31, 2015. For the new investors, the deadline is November 1st. Only after providing this information, will investors be able to make further investments […]
UTI Mutual Fund AMC, pioneer of the mutual fund industry in India, has voiced intentions of launching a new close-ended equity scheme – the UTI Equity Savings Fund. Currently, the AMC is in the process of seeking approval from the Securities and Exchange Board of India (SEBI) prior to the scheme’s official launch. The first […]
Securities and Exchange Board of India (SEBI) has asked fund houses to explain the rationale behind their investment in corporate debt. In a cautionary note, SEBI has asked fund houses to closely monitor companies in their mutual fund portfolios that have been recently downgraded. The purpose of the note is to avoid redemption crisis in […]
Balanced Funds as sub category of mutual funds have witnessed significant inflows this year and now account for 50% of net mutual fund investments made since 1st January 2017, according to an Economic Times (ET) report. This seems to be in line with the observation that since the demonetization announcement in November 2016, mutual funds […]
Yes Bank, the fifth largest private sector bank, has got the approval from the Reserve Bank of India (RBI) to set up mutual fund business in India. The bank will sponsor mutual funds and will have a wholly owned asset management company (AMC) and trustee company. The development follows on the heels with the bank’s […]
