CitiCorp resolves issue with Sebi; India's 1st index fund completes 25 yrs

CitiCorp Investment Bank (Singapore) has resolved a regulatory issue with the Securities and Exchange Board of India (Sebi) by paying a settlement amount of ₹36 lakh. The matter pertained to alleged violations of Foreign Portfolio Investor (FPI) regulations.  Sebi had accused the FPI of issuing an Offshore Derivative Instrument (ODI) to Symmetry Master Fund in December 2023 without adhering to the mandatory 'Know Your Client' (KYC) norms. In response, CitiCorp Investment Bank stated that it had completed the KYC process in January 2024.

 

White Oak Capital to comanage EM fund in US 

White Oak Capital Partners has launched a mutual fund scheme — TCW White Oak Emerging Markets Equity Fund — in the US along with global asset manager TCW. According to White Oak, it is the first Indian asset manager to co-manage a retail investment scheme in the US. 

 

 

"This collaboration leverages TCW's impressive heritage and powerful US distribution network, complementing White Oak’s deep expertise and strong track record in Emerging Markets equity," said Prashant Khemka, Founder of WhiteOak Capital Management. 

India’s first index fund completes 25 yrs 

UTI Nifty 50 index fund, the first index fund in India launched back in 2000, completed 25 years on March 6, UTI AMC said in a release. The AMC held a bell ringing ceremony at the NSE in Mumbai. The fund now manages over ₹20,000 crore.

 

"UTI Nifty 50 Index Fund has played a pivotal role in making index investing more accessible and cost-effective for investors. Being one of the oldest, the fund has enabled countless investors to participate in India’s growth story with transparency and efficiency," said Ashishkumar Chauhan, MD & CEO, NSE.