Page 6 - Amc
Sebi allows AMCs to offer instant access facility in overnight MF schemes
Also, the regulator has tweaked the framework with respect to treatment of unclaimed redemption and dividend amounts
 "Sebi allows AMCs to offer instant access facility in overnight MF schemes")
HDFC AMC reports 14% surge in profit after tax to Rs 345.45 crore in Q1
HDFC Asset Management Company (AMC) on Friday reported over 14 per cent surge in profit after tax to Rs 345.45 crore for the three months ended June 30. The asset management firm had posted a profit after tax (PAT) of Rs 302.36 crore in the same quarter preceding fiscal, HDFC AMC said in a regulatory filing to the stock exchanges. The company's total income rose to Rs 607.99 crore in the June quarter, from Rs 491.31 crore in the year-ago period. The company's average assets under management increased 17 per cent to Rs 4,16,900 crore as of June-end 2021, compared to Rs 3,56,200 crore in June 2020, giving it a market share of 12.6 per cent. HDFC AMC, investment manager of HDFC Mutual Fund, has a diversified asset class mix across equity and fixed income/others. It also has a countrywide network of branches along with a diversified distribution network comprising banks, independent financial advisors and national distributors.
 "HDFC AMC reports 14% surge in profit after tax to Rs 345.45 crore in Q1")
Regressive regulation
New compensation rule for AMCs is illogical
Fund houses to press for modifications to Sebi compensation circular
Among the most important tweak sought by the industry will be to reduce the ambit of 'key employees'
 "Fund houses to press for modifications to Sebi compensation circular")
UTI AMC hits 52-week high as firm returns to profit in March quarter
The shares of the company have gained nearly 16 per cent over its issue price of Rs 554
 "UTI AMC hits 52-week high as firm returns to profit in March quarter")
Mismatch between valuations and fundamentals glaring for AMCs: Analysts
March historically a good month for savings products across categories, for reasons such as tax incentives
 "Mismatch between valuations and fundamentals glaring for AMCs: Analysts")
Street signs: Large AMC IPOs can be delayed, MFs buy Timken India & more
Several high net-worth individuals are said to be lapping up shares of cotton yarn manufacturers amid a spike in yarn prices
 "Street signs: Large AMC IPOs can be delayed, MFs buy Timken India & more")
What makes CAMs a better bet than AMCs for financialisation theme
Viewed as a proxy to asset management business, steady financial record is the USP
 "What makes CAMs a better bet than AMCs for financialisation theme")
With new players at the gates, AMCs to see stiff competition in MF space
Currently, nine requests for MF licence are being processed by Sebi
 "With new players at the gates, AMCs to see stiff competition in MF space")
Mutual funds managed by women have given better returns, shows data
Two dozen AMCs don't even have a single women fund manager; only a couple have more than two
 "Mutual funds managed by women have given better returns, shows data")
Sebi exempts fund managers from placing orders for passive trades
A fund manager can now authorise an AMC employee to place an order on his behalf provided the order instructions are through the electronic mode, including email, and audit trail is maintained
MF space set for digital disruption with likely entry of tech-heavy AMCs
Easing of profitability criteria could see entry of quant funds, robo advisory and smart ETFs
 "MF space set for digital disruption with likely entry of tech-heavy AMCs")
Sebi tweaks eligibility norms, paves way for fintech firms to set up AMCs
Entity can sponsor an MF even if it doesn't fulfill profitability rule; CIRP cos asked to have at least 5% public float
IT and telecom will do well in the medium term: Vinay Paharia of Union AMC
In a Q&A, Paharia says the economy is expected to recover sharply driven by base effect and pent-up demand, and that govt's 'AtmaNirbhar' packages are likely to provide a fillip to manufacturing
 "IT and telecom will do well in the medium term: Vinay Paharia of Union AMC")
RBI rejects Muthoot Finance's plan to buy IDBI AMC over lack of consonance
The kerala-based gold loan NBFC had signed a deal to acquire IDBI Asset Management Ltd and IDBI MF Trustee Company Ltd in November 2019, for about Rs 215 cr
 "RBI rejects Muthoot Finance's plan to buy IDBI AMC over lack of consonance")
Change in assets under management, a near-term challenge for AMCs
In the current Covid-19 scenario, investors are more conservative with a rising preference for less risky liquid funds compared to equity
 "Change in assets under management, a near-term challenge for AMCs")
Aashish Somaiyaa exits Motilal Oswal AMC after 7 year at the helm
Navin Agarwal, who had been managing director for Motilal Oswal Financial Services, will lead the AMC as its MD and CEO
 "Aashish Somaiyaa exits Motilal Oswal AMC after 7 year at the helm")
As AMC equity flows taper, investors urged to wait till situation improves
Analysts expect a YoY fall of 12-20% in revenue, and 7-10% in operating profit in the June quarter
 "As AMC equity flows taper, investors urged to wait till situation improves")
IBA considering proposal to set up AMC and AIF, takeover NPAs from PSBs
The coronavirus pandemic is expected to result in a rise in non-performing assets (NPAs) despite relief measures
 "IBA considering proposal to set up AMC and AIF, takeover NPAs from PSBs")
IDBI AMC employees fear for jobs as bank considers divesting stake
According to sources, 190-200 employees at IDBI AMC have raised concerns over job continuity
 "IDBI AMC employees fear for jobs as bank considers divesting stake")
