Union AMC plans SIF, AIF, and GIFT City foray, says CEO Madhu Nair

Union Asset Management Company (AMC) will soon enter the specialised investment fund (SIF), alternative investment funds (AIFs), and the GIFT City in a bid to expand beyond the traditional mutual fund (MF) space, Madhu Nair, its chief executive officer (CEO) said. 

The AMC, which manages around ₹20,000 crore in its MF schemes, has set a ₹1 trillion assets under management (AUM) target for the next 5 years. 

In its equity outlook, the fund house said the Indian equity market has entered the ‘attractive zone’ in its fair value spectrum indicator after the correction in the recent months.   

Against this backdrop of improved market valuations and the introduction of a more investor-friendly tax regime, Union MF is encouraging individuals to initiate or step up their Systematic Investment Plans (SIPs), the AMC said. 

Japan, Korea see 11 Nifty passive launches in FY25 

 

A total of 11 new passive funds tracking Nifty indices were launched in Japan and Korea during the financial year 2024-25. Of these, nine funds track the Nifty 50 Index, while one tracks the Nifty India Corporate Group Index and another tracks the Nifty Midcap 50 Index, the exchange said in a release.  At present, there are 33 passive funds tracking Nifty indices launched outside India with total assets under management of $4.3 billion. 

Use 1600 series numbers for customer calls: Sebi 

The Securities and Exchange Board of India (Sebi) on Tuesday advised its regulated entities such as stock brokers and mutual funds to only use ‘1600’ phone number series for any service to their existing customers.  The move is to enhance investor protection and curb financial fraud. The advice comes after the guidelines by Telecom Regulatory Authority of India.