Page 2 - Fund Houses
Fund houses in a bind over Sebi's dividend diktat; Amfi sets up committee
There is also uncertainty on whether investors will be able to adjust the cost of acquisition of the units and avail of indexation benefits
 "Fund houses in a bind over Sebi's dividend diktat; Amfi sets up committee")
Union AMC aims to double assets base to Rs 10,000 crore this year
The fund house has more branches, workforce, and number of customers at its disposal thanks to the amalgamation of Andhra Bank and Corporation Bank with Union Bank of India (UBI) last year
 "Union AMC aims to double assets base to Rs 10,000 crore this year")
Sebi doubles foreign investment limit for individual fund houses to $600 mn
The regulator has also quadrupled the quantum of investment that individual fund houses can make in overseas exchange traded funds to $200 million from $50 million at present
 "Sebi doubles foreign investment limit for individual fund houses to $600 mn")
PM Narendra Modi to brainstorm with global fund houses on Thursday
20 top funds, India Inc brass to attend roundtable
 "PM Narendra Modi to brainstorm with global fund houses on Thursday")
If your multi-cap fund becomes much riskier after new Sebi rules, exit it
Wait until your fund house communicates a change of mandate before you decide on your course of action
 "If your multi-cap fund becomes much riskier after new Sebi rules, exit it")
Top MFs gain larger share of industry's debt pie post-Franklin wind-up
Top-five fund houses account for over 61% of industry assets
 "Top MFs gain larger share of industry's debt pie post-Franklin wind-up")
Credit funds could see unlisted exposure rise over high redemptions
Shrinking asset size has added to challenges in bringing down levels of such investments
 "Credit funds could see unlisted exposure rise over high redemptions")
Lockdown: Fund houses reassure investors amid fears of redemption requests
Aditya Birla and HDFC, also rushed to hold conference calls with their investors in an effort to reassure them about their portfolios
 "Lockdown: Fund houses reassure investors amid fears of redemption requests")
Fund houses suspending fresh flows to arbitrage schemes on thinning spreads
Arbitrage spreads are normally available in the 35-40 bps range, but have currently narrowed to 15-20 bps with many securities trading at discount
 "Fund houses suspending fresh flows to arbitrage schemes on thinning spreads")
Investment in equity MFs dips 41% to Rs 75,000 cr on volatility, slowdown
Equity schemes have seen a little bit of a slowdown in 2019 as compared to the past few years
 "Investment in equity MFs dips 41% to Rs 75,000 cr on volatility, slowdown")
Franklin MF takes 50% haircut on exposure to Essel group-backed firm
The NCDs held by the fund house's schemes will mature in June, 2020
 "Franklin MF takes 50% haircut on exposure to Essel group-backed firm")
Every third fund manager sees recession in 12 months, says Bank of America
Most fund managers believe a trade war between the US and China remains the biggest tail risk
 "Every third fund manager sees recession in 12 months, says Bank of America")
Mutual funds churn portfolio as equity flows see further moderation
The MF industry witnessed deceleration in equity inflows for a third straight month in January
 "Mutual funds churn portfolio as equity flows see further moderation")
SBI Mutual Fund to Axis MF, top 15 fund houses lead equity asset growth
Fund houses take in asset management fees anywhere between 100 and 150 bps for equity schemes, compared to 5-100 bps for debt schemes, show estimates
 "SBI Mutual Fund to Axis MF, top 15 fund houses lead equity asset growth")
How expensive is your fund house?
Keeping an eye on expense ratio is important because money saved is money earned
 "How expensive is your fund house?")
Top fund houses post healthy AUM growth
AUM of MFs climbed to a record of around Rs 16 lakh crore during the quarter ended September
 "Top fund houses post healthy AUM growth")
When your fund house gets taken over
While it might not make sense to exit the scheme immediately, put fresh investments on hold for six months
 "When your fund house gets taken over")