Page 14 - Latest Updates on Mutual Fund
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
 "Hybrid funds can help investors weather choppy equity markets")
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")
Diversified bets yield big payoffs: Samir Rachh of Nippon Life India MF
Samir Rachh outperforms peers despite fund's size constraints
 "Diversified bets yield big payoffs: Samir Rachh of Nippon Life India MF")
AIF assets nudge past Rs 5 trn mark, still a seventh of MF industry size
The AIF segment has grown more than 8x in past five years
 "AIF assets nudge past Rs 5 trn mark, still a seventh of MF industry size")
Short-term debt MFs likely to gain from RBI policy stance: Market players
Prices of fixed-income securities have an inverse relation with interest rates. When the latter decline, prices of fixed income securities increase and vice versa
MFs step up buying as markets wobble, equity scheme purchases at 4-mth high
Participants in mutual funds say corrections gave some opportunities to enter at lower levels. In November, S&P BSE Sensex lost 3.8%, while S&P BSE Midcap shed 2.33%
 "MFs step up buying as markets wobble, equity scheme purchases at 4-mth high")
PGIM India MF doubles AUM in six months to Rs 17,700 crore
The fund house has also doubled its customer folios during the first six months of the current fiscal
BS BFSI Insight Summit: MFs to stay top choice for investors, say panelists
Transparency, low cost and the variety of investment options offered drive investor preference, says a section of top MF honchos
 "BS BFSI Insight Summit: MFs to stay top choice for investors, say panelists")
Top MF execs to speak at Business Standard BFSI Insight Summit on Tuesday
The keynote speaker for the evening will be Usha Thorat, chairperson of the Mutual Fund Advisory Committee and former RBI deputy governor
 "Top MF execs to speak at Business Standard BFSI Insight Summit on Tuesday")
Sebi tweaks benchmarking norms for MFs, brings in uniformity
Regulator has introduced a two-tiered structure for benchmarking of schemes and all the benchmarks followed should be total return index (TRI)