Sebi gets more time in Sharpline case, DSP MF launches multicap fund

Sharpline case: Sebi gets more time  
 

The Securities Appellate Tribunal (SAT) has given an extension to the Securities and Exchange Board of India (Sebi) to complete the investigation in a case pertaining to manipulation of stock prices of Sharpline Broadcast through misleading YouTube videos. The tribunal has allowed Sebi to complete the investigations by March 31 this year. According to an earlier directive, the market regulator had to complete it by December 31, 2023. “If the inves­tigation is not completed and show cause notice not issued by March 31, 2024, it will be open to the appellants to trade in the scrips in question and to withdraw the amount deposited pur­suant to the order of this tribunal,” noted SAT in an order.
 

In March last year, Sebi had barred 24 entities from the securities market for manipulating share prices of two companies through misleading videos on YouTube channels. Sebi later modified the order on 15 individuals in July 2023. 

Bandhan MF starts multi-asset fund
 

Bandhan Mutual Fund on Monday launched a multi-asset allocation fund, a hybrid offering that will invest across asset classes with 50 per cent of the allocation going into Indian equities. “(Of the rest), 15 per cent will go into international equities across the US and other developed markets as well as emerging markets, 15 per cent to fully hedged arbitrage strategies, 10 per cent towards actively managed high-quality Fixed Income and 10 per cent towards domestic gold and silver," said the fund house.

"Asset allocation helps investors avoid behavioural pitfalls, such as market timing and performance chasing which can result in shorter holding periods, portfolio imbalances and eventually sub-optimal returns," said Vishal Kapoor, CEO of Bandhan AMC.

Multi-asset allocation funds have been the 'flavour of the season' in the hybrid space in financial year 2024 as fund houses have rushed to launch the product post the change in debt fund taxation. However,  fund houses have taken a diverse approach, especially on the taxation front. While some fund houses have stuck to the usual equity taxation structure, others have opted for the erstwhile debt taxation (20 per cent tax with indexation benefits after 3 years).

DSP MF launches multicap fund
 

DSP Mutual Fund (MF) on Monday announced the launch of its multicap fund. The fund will invest across large cap, mid cap and small cap stocks. Apart from the m-cap diversification, the fund will have the flexibility on investment style, i.e., growth and value. “Both styles have outperformed at different times historically. The fund blends both styles so investors don't need to time them,” the fund house said.  
 

As per the release, the fund will initially invest 50 per cent of the portfolio in largecaps to be on the 'play defence' and divide the rest between midcaps and smallcaps.