Page 14 - Latest Updates on Mutual Fund
Amfi stock reclassification review period nears end, lifting these stocks
Twelve stocks are moving from mid-cap to small-cap, reveals an analysis by analyst Brian Freitas of Periscope Analytics
 "Amfi stock reclassification review period nears end, lifting these stocks")
SIP and safe: Equity MF inflows strong despite market turmoil in May
Systematic investment plans help garner flows of Rs 12,286 crore in May, up Rs 423 crore in April.
 "SIP and safe: Equity MF inflows strong despite market turmoil in May")
MFs' debt exposure to NBFCs rises 14.3% to Rs 1.7 trn in March: Report
Shift to short-term investments and IPO funding seen as reasons for trend, according to a report
 "MFs' debt exposure to NBFCs rises 14.3% to Rs 1.7 trn in March: Report")
WhiteOak Capital Asset Management plans to open 100 branches in 12-18 mnths
WhiteOak Capital Asset Management, a new entrant to the mutual fund space, is looking to open nearly 100 branches across the country in the next 12-18 months.
 "WhiteOak Capital Asset Management plans to open 100 branches in 12-18 mnths")
Domestic MF industry's average AUM grew 19% to Rs 38.37 trn in FY22
Strong inflows into equity and hybrid schemes coupled with sustained inflows through systematic investment plan (SIP) contributed to the growth in assets.
 "Domestic MF industry's average AUM grew 19% to Rs 38.37 trn in FY22")
Sebi tightens rule for 'passive breaches' by MFs, effective July 1
Provision for barring fund houses from launching new schemes, charging exit load
 "Sebi tightens rule for 'passive breaches' by MFs, effective July 1")
Macquarie sees long runway for growth for Indian MF industry
AUM-to-GDP ratio still at just 15%, compared with global average of 75%
 "Macquarie sees long runway for growth for Indian MF industry")
MF assets declined faster for frontier territories amid volatility
Sharp drop in total assets under management compared to rest of the country
BoB, BNP Paribas announce MF JV with Suresh Soni as CEO
The new entity will leverage on the strengths that each partner has developed, to offer products specifically designed for retail and institutional clients in India.
 "BoB, BNP Paribas announce MF JV with Suresh Soni as CEO")
IDFC Tax Advantage (ELSS) Fund: Tax savings with long-term growth
The fund has outperformed the benchmark (S&P BSE 500 TRI) and its peers (funds ranked under the ELSS category in December 2021 CMFR) in the past 1-, 2-,3-,5-, 7- and 10-year trailing periods
 "IDFC Tax Advantage (ELSS) Fund: Tax savings with long-term growth")
Sachin Bansal-led Navi Technologies plans Rs 4,000 cr IPO, filing DRHP soon
ICICI Securities, BofA and Axis Capital are the investment banks handling the share sale
 "Sachin Bansal-led Navi Technologies plans Rs 4,000 cr IPO, filing DRHP soon")
Sachin Bansal-backed Navi MF appoints Hari Shyamsunder as CEO
He will take over from Saurabh Jain who resigned from his current role on February 28
 "Sachin Bansal-backed Navi MF appoints Hari Shyamsunder as CEO")
Hybrid funds can help investors weather choppy equity markets
Balanced hybrid funds invest between 40 per cent and 60 per cent of total assets in equity and debt
Budget 2022: MF industry seen benefiting with digital assets under tax net
Move will help more millennials come into MF fold; asset management companies also welcome surcharge rationalisation
MFs realign international offerings after Sebi diktat on subscriptions
On Friday, market regulator had, through Amfi advised stopping of subscriptions in such schemes to avoid breach of overall cap of $7 bn for investment in overseas securities
 "MFs realign international offerings after Sebi diktat on subscriptions")
PhonePe applies for MF license, joins six other fintechs awaiting Sebi nod
Most players are trying to establish a certain niche to gain a foothold into the Rs 38-trillion MF industry which has around 45 AMCs
 "PhonePe applies for MF license, joins six other fintechs awaiting Sebi nod")
Fund houses prune Nykaa, Policybazaar exposure on profit taking; up Paytm
It's profit-taking, say fund managers; increase holding in Paytm in December
 "Fund houses prune Nykaa, Policybazaar exposure on profit taking; up Paytm")
Avoid longer-duration funds as interest rates may harden: Analysts
Shorter-duration ones will see lower mark-to-market impact
 "Avoid longer-duration funds as interest rates may harden: Analysts")
Winding up of MF schemes only after majority unitholders' consent: Sebi
As part of amending the mutual fund regulations, the watchdog will make it mandatory for the funds to follow Indian Accounting Standards (Ind AS) from 2023-24 financial year onwards
 "Winding up of MF schemes only after majority unitholders' consent: Sebi")
Equity MFs mop up Rs 46,700 crore through new fund offers in 2021
Highest in 10 years, with 13 of 70 equity schemes cornering 75% of amount raised
 "Equity MFs mop up Rs 46,700 crore through new fund offers in 2021")