| T Rowe Price pays Rs 700 cr for 26% in UTI | 08-NOV-09 |
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| The four sponsors of UTI Asset Management Company today signed an agreement with T Rowe Price, the US-based fund house, to offload 26 per cent stake for around Rs 700 crore. |
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| MFs' assets rise 0.93% in September | 03-OCT-09 |
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| Average assets under management (AAUM) of the mutual fund industry grew 0.93 per cent in September to Rs 7,42,919.67 crore, the slowest growth in the last few months. |
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| US firm to buy 26% stake in UTI AMC | 02-OCT-09 |
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| US-based asset management firm T Rowe Price is set to acquire a 26 per cent stake in UTI Asset Management Company (AMC) for around Rs 650 crore. This values the fund house at around Rs 2,600 crore. The deal amount translates into 3.5 per cent of UTI’s average assets under management (AAUM) at the end of August. UTI is the country’s fourth-largest fund house with AAUM of Rs 73,925 crore at the end of August. |
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| Fund houses witness drop in redemption level | 28-AUG-09 |
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| In what can be termed as a relief for the battered domestic mutual fund industry, redemption pressure has eased considerably of late. And, fund managers attribute this trend to changing investor attitude following a steady rise in the stock market since March this year. |
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| MF assets rise 2.8% in July, slowest in 4 months | 05-AUG-09 |
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| The mutual fund industry’s growth in July was the lowest in the last four months. Average asset under management (AAUM) of the industry grew a mere 2.8 per cent, or Rs 19,000 crore, to Rs 6.9 lakh crore in the month, according to data from the Association of Mutual Funds in India (Amfi). |
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| Mutual funds' assets rise 5% in June | 03-JUL-09 |
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| The mutual fund industry’s assets continued to grow in June. The average assets under management grew (AAUM) from Rs 639,129.81 crore to Rs 670993.13 crore, a rise of 5 per cent, or Rs 31,863.32 crore. |
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| MFs see 16% rise in May assets | 17-JUN-09 |
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| The mutual fund industry witnessed a sharp surge of 16 per cent, or Rs 87, 875 crore, in their average assets under management (AAUM) in May. As a result, the asset base crossed Rs 6.3 lakh crore for the first time. |
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| Nomura to pay Rs 138 cr for 19% of LIC MF stake | 16-JUN-09 |
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| Japan’s Nomura will pay about Rs 138 crore ($29 million) to buy 19.3 per cent stake in LIC Mutual Fund as part of a deal to acquire 35 per cent stake, a top official of a group firm of the Indian money manager said. The deal values the fund firm at $149.3 million, or about 2.5 per cent of its May average assets of nearly Rs 28,600 crore.”We have got around 39.3 per cent stake in LIC Mutual Fund,” RR Nair, chief executive of LIC Housing Finance, said. “Twenty percent we will be holding back. The balance will be offloaded to Nomura. |
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| MF assets dip for first time in 5 years | 03-APR-09 |
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| For the first time in five years, the average assets under management (AAUM) of mutual funds have fallen. The AAUM of fund houses fell by 7 per cent or Rs 36,798 crore to Rs 4.93 lakh crore in the financial year 2008-09, as against Rs 5.30 lakh crore in 2007-08, according to data from the Association of Mutual Funds in India (Amfi). |
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