Page 5 - Asset Management

Fund houses on Sebi's radar for sops to mutual fund distributors

Amfi writes to AMCs for second time in 10 months, asks them to withdraw such programmes

Nuvama Asset Management, Cushman & Wakefield plan commercial realty fund

The fund will eye opportunities in Grade A+ office space across micro markets in the top 6 cities of Bengaluru, NCR, Pune, Mumbai, Chennai, and Hyderabad

Investment funds managers face tougher rules on investor cash calls

Global regulators published tougher rules for managers of open-ended investment funds to ensure they can meet investor cash calls in a crisis without need for emergency liquidity from central banks

AMCs get a revenue boost from strong retail inflows via mutual funds

Assuming 10% incremental annual inflows and market appreciation of 5-7%, AUM could continue to grow 15% in the medium term

UTI AMC Q2 results: PAT declines 8% to Rs 183 crore, revenue falls 7%

UTI Asset Management Company on Wednesday reported an 8 per cent decline in profit after tax to Rs 183 crore in the September quarter. It had posted a profit after tax of Rs 200 crore in the same quarter of the preceding fiscal, according to a regulatory filing. The company's total revenue from operations dropped 7 per cent to Rs 404 crore during the quarter under review. In the year-ago period, the same was at Rs 435 crore. For the quarter ended September 30, 2023, UTI Mutual Fund's average assets under management stood at Rs 2.67 lakh crore and it had a market share of 5.68 per cent. Imtaiyazur Rahman, Chief Executive Officer of UTI AMC, said the Indian mutual fund industry has constantly worked towards building financial literacy in the country for creating awareness about various products and in enabling investors to make informed investment decisions. "With our growing geographical and digital reach in the country and our expertise in investment management combined with a lar

See greater comfort in largecaps compared to small and midcaps: UTI AMC CIO

Subramaniam says pharmaceutical and healthcare sectors are reasonably valued and are showing incremental improvements in their balance sheets

Review of Resource Management Group issue completed, action taken: TCS

TCS stated that of the 19 employees, 16 have been separated from the company for code of conduct violations

Balanced hybrid funds: Mitigate risks and earn stable investment returns

Remember these funds have a limited track record currently; they will also not receive equity tax treatment

PGIM India forays into Rs 8-trn AIF space with Category III fund launch

Fund to focus on multi-year growth trends, identifies discretionary consumption, manufacturing as top themes

Sebi empanels 34 entities for forensic investigation of MFs, AMCs, trustees

Sebi has empanelled 34 entities, including Ernst & Young LLP, Deloitte Touche Tohmatsu India LLP and Grant Thornton Bharat LLP to conduct forensic investigation of mutual funds, their asset management companies (AMCs) and trustees. KPMG Assurance and Consulting Services LLP, Chokshi & Chokshi LLP, Nangia & Co LLP and Pipara & Co LLP are among the other empanelled entities, the Securities and Exchange Board of India (Sebi) said in a latest update. The period of empanelment is from September 20, 2023 to September 19, 2026, it added. These 34 entities have been empanelled after evaluation of all the applications in response to Expression of Interest (EoI) invited by the capital markets regulator in February. The entities are required to undertake acquisition, extraction and analysis of digital evidence from mobile, computers, tablets, hard drives and USB drives. Also, they need to prepare and submit a report mentioning the findings and conclusions of the analysis. In ...

AMC TPG will invest Rs 2,788 crore in data management company Denodo

Asset management company TPG has committed an investment of USD 336 million (Rs 2,788 crore) in data management firm Denodo, the two companies said on Thursday. The fresh investment by TPG will lead to sale of shares by Denodo's existing investor HGGC. The transaction is expected to close in early October following customary regulatory approvals. HGGC, which invested in Denodo's Series A investment round in 2017, will remain a significant investor, the companies said in a statement. TPG Partner Mike Zappert said, "With a market-leading net promoter score of over 50, the company has built a notable roster of marquee, global customers including TPG, and we see a tremendous opportunity to accelerate Denodo's expansion going forward." Denodo CEO and founder Angel Via said, "We look forward to leveraging TPG's deep experience to continue the rapid expansion of our global market share. We are equally thrilled that HGGC will remain an important investor in Denodo and are thankful for thei

AUM of NPS, APY crosses Rs 10 trillion: PFRDA chairman Deepak Mohanty

PFRDA plans to come out with a systematic withdrawal plan

Asset under management of NPS and APY crosses milestone of Rs 10 trillion

Asset under management of National Pension System (NPS) and Atal Pension Yojana (APY) has crossed a milestone of Rs 10 lakh crore, Pension Fund Regulatory and Development Authority (PFRDA) Chairman Deepak Mohanty said on Friday. The landmark AUM was reached on August 23 and it took two years and 10 months to double from Rs 5 lakh crore. Of the total, AUM under APY stood at Rs 30,051 crore at the end of August 25 while the figure for NPS Lite reached Rs 5,157 crore. The number of subscribers under the National Pension System (NPS) and Atal Pension Yojana (APY) together increased to more than 6.62 crore. The National Pension System (NPS) has been implemented for all government employees (except armed forces) joining central government on or after January 1 2004. Most of the state/UT governments have also notified the National Pension System (NPS) for their new employees. NPS has been made available to every Indian citizen from May 1 2009 on a voluntary basis. Further, from June 1, 2

JPMorgan Index may include India's sovereign bonds in 2024, says Pictet

India has in recent years come close to opening its $1 trillion government debt market to more global funds before pulling back from meeting the requirements for index inclusions

Can the Jio-BlackRock joint venture stir the AMC pot? What analysts say

Growth expectations of incumbent AMC players may get trimmed in the medium-to-long term, analysts said, once the Jio-BlackRock JV unveils its plans

BlackRock to enter India's asset management sector with Jio Financial JV

JFS and BlackRock are targeting initial investment of $150 million each in the joint venture

Sebi puts in place regulatory framework for mutual fund's sponsors

Capital market watchdog Sebi on Friday came out with a regulatory framework for private equity funds sponsoring a mutual fund house as well as for self-sponsored Asset Management Companies (AMCs). Under the framework for private equity (PE) funds, Sebi said the applicant is required to have a minimum of five years of experience in the capacity of fund manager and an experience of investing in the financial sector. It should have managed, committed and drawn-down capital of at least Rs 5,000 crore. The mutual fund sponsored by the PE would not participate as an anchor investor in the public issue of an investee company, where any of the schemes and funds managed by the sponsor PE has an investment of 10 per cent or more or a board representation. "The experience, track record, and eligibility regarding the fit and proper criteria of any applicant PE to become a sponsor of a mutual fund shall be ascertained through its conduct in the respective home jurisdiction," Sebi said in a ...

HDFC AMC, UTI AMC: Charts suggest up to 15% rally in select AMC shares

Selective AMC stocks like HDFC Asset Management Company and Nippon Life India Asset Management may rise up to 15%

Sun Life Asia Service Centres rebrands itself as Sun Life Global Solutions

The GCC plans to increase headcount by about 700 this year in India

Asset under management may cross Rs 10 trillion by Sept: PFRDA chairman

The AUM under pension schemes is expected to cross the landmark figure of Rs 10 lakh crore in the first half of this fiscal, helped by regular contributions from subscribers, PFRDA Chairman Deepak Mohanty has said. As per the latest figure, assets under management (AUM) -- including National Pension Scheme (NPS), Atal Pension Yojana (APY) and NPS Lite -- increased to Rs 9.58 lakh crore. "We have reached an AUM size of about Rs 9.5 lakh crore. So, one will not be surprised that by the middle of this financial year, we could cross the magical figure of 10 lakh crore of NPS corpus," he told PTI in an interview. It depends on so many other things like the return that the fund generates and the performance of the market, the Pension Fund Regulatory and Development Authority (PFRDA) chairman said. The AUM corpus is mark-to-market, so the adverse moment in the market impacts the corpus. Out of Rs 9.58 lakh crore, he said, NPS alone has a fund size of Rs 9.29 lakh crore while the remainin