Mutual funds equity AUM surges past Rs 30 trillion in June, shows data

The assets under management (AUM) of equity schemes, both active and passive, went past Rs 30 trillion for the first time in June, according to the Motilal Oswal Financial Services report. The report noted that the 8.7 per cent month-on-month rise in AUM was fueled by a rise in market indices and a jump in fresh inflows. The key benchmark index Nifty 50 rose 6.6 per cent in June. The equity AUM is now almost half of the total AUM of the industry at Rs 61.2 trillion at the end of June. Last month, new inflows into equity mutual funds surged 17 per cent sequentially to a record high of Rs 40,608 crore, supported by a Rs 14,370 crore mop up by 11 new equity fund offerings (NFOs) during the month.

Sebi nod to Northern Arc, Shree Tirupati Balajee Agro for IPO

The Securities and Exchange Board of India (Sebi) has approved the initial public offerings (IPOs) of Northern Arc Capital and Shree Tirupati Balajee Agro Trading Company. Both the IPOs are a combination of fresh issue and offer for sale. The market regulator issued observation letters to both in the last week. 

Non-banking financial company Northern Arch, which is backed by IIFL and LeapFrog Investments, plans to raise Rs 500 crore through fresh issue and will have nearly 2.1 crore shares in OFS. Shree Tirupati Balajee Agro’s public issue comprises a fresh issue of 14.7 million equity shares and an OFS of 5.69 million shares by promoter Binod Kumar Agarwal.

HDFC AMC Q1 profit up 26% at Rs 604 crore 

HDFC Asset Management Company (AMC) on Monday reported a net profit of Rs 603.9 crore for the first quarter of FY25, a 26 per cent jump from the same period last year. The company's revenue from operations increased 35 per cent year-on-year (Y-o-Y) to Rs 775.2 crore. The quarterly average assets under management of the mutual fund business rose to Rs 6.7 trillion in Q1 compared to Rs 4.9 trillion during the same quarter last year. “8.76 million systematic transactions with a value of Rs 32.1 billion (Rs 3,210 crore) processed during the month of June 2024,” the company said in a release. The share of the asset manager closed with 0.67 per cent gains on Monday at Rs 4,197 a piece.