The outflow came even as the Nifty 50 rose 2 per cent in July, supported by a sharp rally in information technology stocks, which recorded their best monthly gain in six years
The mutual fund industry had 278.6 million folios at the end of June, with Nippon India MF accounting for 14.4 per cent (40.2 million folios) of the total
The central bank has proposed a one-time approval mechanism for mutual funds, insurers and pension funds to acquire major shareholding in banks, replacing repeated approvals
Despite bouts of volatility, the equity market ended June on a positive note, with the Nifty50 gaining 1.4 per cent as easing oil prices and receding tensions in West Asia lifted sentiment
VK Vijayakumar of Geojit Investments, said India's relative outperformance continues to be aided by weakness in the KOSPI and the broader weakness in the global chip trade.
Rishi Kohli, chief investment officer at Jio BlackRock AMC, said the company intends to introduce at least one more SIF in the equity long-short category within the next year
Asset manager launches Axis Account Plus, a digital treasury management solution that enables MSMEs to invest surplus working capital seamlessly in liquid and mutual fund schemes
JioBlackRock enters the SIF segment with a hybrid long-short fund, while ICICI Prudential MF launches a multi-asset active FoF for diversified investing
SIP-linked assets now account for over 40 per cent of active equity mutual fund AUM, supported by resilient retail participation despite a recent moderation in monthly inflows
