The company, which is the largest broker and also the biggest mutual fund (MF) distributor, plans to raise around $700 million (around Rs 6,000 crore)
There may not be any major changes in direct taxation, given that simplification has already been carried out in recent years
FoFs pool capital to invest in a variety of mutual fund schemes rather than directly in equities, debt, or commodities
Investors open 5.4 million accounts, close 4.5 million last month
The regulator has also issued detailed guidelines for nominees to act on behalf of incapacitated investors
SIP contributions hit Rs 26K crore for first time
The other new launches include Mirae Asset Smallcap Fund, Bandhan Nifty Alpha Low Volatility 30 Index Fund, Kotak Nifty Smallcap 250 Index Fund and UTI Quant Fund.
Passive MF schemes, especially those tracking the Nifty 50 and Sensex, will need to offload their holdings in ITC Hotels as the stock will be excluded from these indices
Fund house expects similar returns from gold, debt
Angel One, Unifi set to launch first fund this year; four more likely to secure licence this year
These midcap stocks that have earned an upgrade include CG Power, Rail Vikas Nigam, ICICI Prudential Life Insurance, Polycab India, Indus Towers, Cummins India and Info Edge
Settlements to happen once a month for accounts inactive for over 30 days
39% home stretch boost powers AUM to Rs 68.6 trillion
Since November 2022, sectoral, midcap, and smallcap funds have collectively added nearly 39 million folios, which is 65 per cent of the total additions to equity funds over the past two years
MFs have the largest institutional buyers in the equity market in two of the last three years - 2022 and 2024. In 2023, they were only slightly behind foreign institutional investors (FIIs)
ITI Asset Management Limited has appointed Jatinder Pal Singh as its chief executive officer
According to the fund house, rising geopolitical tensions can be a risk for the equity market as it could hinder the free flow of goods
For indices that serve as primary benchmarks for active schemes, the AUM of these active schemes will also be included
ITC's spunoff unit to remain part of Sensex, Nifty for 3 days post-listing to help index funds navigate change
Equity schemes rake in Rs 3.5 trillion, SIPs account for over half the inflows