Page 3 - Funds

Ascertis Credit closes Rs 1k cr short-term income fund, exceeding target

The fund, part of Ascertis' new Income Fund Series, was launched in response to investor demand for a shorter-term investment vehicle with regular income distribution

J'khand chief secy urges expediting fund utilisation for capital investment

Jharkhand chief secretary Alka Tiwari on Friday instructed state departments to promptly submit utilisation certificates to the Centre for funds received under the Special Assistance to States for Capital Investment (SASCI) scheme. She said submitting the certificates on time would strengthen the state's claim to remaining funds and demonstrate its commitment to financial discipline. Tiwari was reviewing the scheme with the secretaries of the departments concerned. Notably, the Centre provides interest-free loans to states for 50 years under SASCI. For the financial year 2023-24, the state was allocated Rs 5,255.14 crore by the Centre, with Rs 4,580.62 crore already received, according to an official communique. For 2024-25 fiscal, the state has proposed Rs 4,302 crore, with Rs 2,763 crore approved and Rs 1,233 crore received so far. Additionally, the state is eligible for an extra Rs 1,250 crore under the scheme, the statement added. "If work is done according to the guidelines o

Nuvama-Cushman & Wakefield JV raises Rs 1,700 cr for Prime Offices Fund

First close completed for fund that will invest in commercial real estate, says companies

Flows in NRI deposits up 71% in April-November 2024, shows RBI data

Total outstanding NRI deposits stood at $162.7 billion

ABFRL board approves raising $500 mn through preferential issuance and QIP

Fundraise will deleverage company and help in its growth strategy, says fashion retailer

AIFs seek specific funds from govt for new-age, sunrise, deep-tech startups

Alternate investment funds (AIFs) have sought from the government specific funds for investments in new-age, sunrise and deep-tech startups with a view to promote innovation in the country, an official said. They have also urged the government to announce a fresh round of funds under the Fund of Funds for Startups (FFS) scheme. These demands were raised during a meeting between AIFs and the officials of the Department for Promotion of Industry and Internal Trade (DPIIT) here last week. The department held discussions with AIFs on ways to promote funding for startups in the country, the official said. "In the meeting AIFs demanded more funds under FFS. They demanded an increase in the duration of FFS from the existing 12 years," the official added. At present FFS is sector agnostic. The AIFs have suggested specific funds for the sunrise and new-age sectors. Issues like capital mobilisation and promoting funding for startups in smaller cities were also discussed during the meeting.

Private credit firm Neo Asset seeks to raise $700 million for second fund

The money manager plans to deploy the capital to support mid-sized companies in so-called special situations that include acquisition financing

What are arbitrage funds: All you need to know before investing?

Arbitrage funds use a system-driven approach with algorithms to swiftly identify and execute arbitrage opportunities, ensuring efficiency and eliminating the need for manual intervention

Indian firms raise record funds via corporate debt in 2024; to rise further

Indian firms raised Rs 10.67 trillion ($124.81 billion) through the sale of bonds till Dec. 27, a 9 per cent jump over 2023, data from information provider Prime Database showed

PM CARES Fund contributions fall to Rs 912 crore in FY23, lowest since 2020

The total voluntary contribution to the PM CARES Fund fell to Rs 912 crore in the fiscal year 2022-23, its lowest since the public charitable trust was created in March 2020 following the COVID-19 outbreak. A study of the audited statements on the Prime Minister's Citizen Assistance and Relief in Emergency Situations (PM CARES) Fund website shows that the voluntary contribution peaked at Rs 7,184 crore in 2020-21 and then fell to Rs 1,938 crore in 2021-22, before declining further in 2022-23 as the Covid threat receded after 2021. The fiscal 2022-23 is the last year for which the statement is available on the website. Foreign contribution has seen a sharper decline, registering a high of Rs 495 crore in 2020-21, before falling to Rs 40 crore and Rs 2.57 crore in the next two years. The total expenditure in 2022-23 was around Rs 439 crore, with Rs 346 crore of it used by the "PM Cares for Children", a government initiative to support children who lost both of their parents, legal ..

Active largecap funds set to outperform for second consecutive year

More number of funds likely to beat the benchmark this year vis-a-vis 2023

State-owned REC raises Rs 2,195 crore via bonds of different maturities

Market participants said that the company did not raise the entire amount as the investors were demanding a higher coupon

Parliamentary panel criticises fisheries ministry for fund underutilisation

A Parliamentary panel on Tuesday criticised the fisheries ministry for under-utilisation of funds allocated in the Budget and asked it to address the issue. "...the reasons for under-utilisation continue to remain the same," the Standing Committee on Agriculture, Animal Husbandry and Food Processing said in its third report submitted to Parliament. The under-utilisation of funds continues even after more than three years of putting in place a new financial system by the Ministry of Finance, it said. The committee recommended the Department of Fisheries make "serious efforts" and "proactively liaise" with state governments and state fisheries departments to address this issue for positive results. The committee noted that targeted and effective implementation of the department's schemes becomes imperative for the socio-economic upliftment of the fishermen in general and traditional fishermen in particular. "It, therefore, becomes all the more necessary that the Budget allocation fo

Cloud-based testing platform LambdaTest gets $38 mn in Avataar-led funding

"KaneAI is more than a tool-it's a transformative approach to QA, empowering teams to test smarter and faster, with less manual effort," said Asad Khan

Stride Ventures rolls out $300 mn 4th fund as venture debt gains traction

Deployments exceeding Rs 100 crore include companies like BlueStone, Upstox, Moneyview, Ather, among others

World Bank gets $100 billion replenishment of fund for poorest countries

World Bank made the announcement today in Seoul at a pledging conference for the International Development Association, which provides grants and very low-interest loans to 78 low-income countries

Rs 38 crore disbursed for development of wildlife habitats in FY24

Andhra Pradesh is also the only coastal state that has not received any funds under the scheme over the past five years

Business Cycle Funds: Macro-driven funds that can fall prey to timing risk

Business cycle funds aim to optimise returns by aligning their portfolios with different phases of the economic cycle

After recent run-up, enter US-focused funds through SIP for 7+ years

While last year's earnings were concentrated among the seven major tech stocks, non-tech stocks within the S&P 500 have witnessed improved performance this year

Sebi sends Rs 154.5 cr worth notices to RHFL's promoter over fund diversion

Sebi on Wednesday sent demand notices to six entities, including Reliance Home Finance's promoter entity, asking them to pay Rs 154.50 crore for diversion of funds from the company. The regulator has warned these entities for attachment of assets and bank accounts if they fail to make the payment within 15 days. Those who have been sent notices are Crest Logistics and Engineers Pvt Ltd (Now Known as CLE Pvt Ltd), Reliance Unicorn Enterprises Pvt Ltd, Reliance Exchange next Ltd, Reliance Commercial Finance Ltd, Reliance Business Broadcast News Holdings Ltd and Reliance Cleangen Ltd. The demand notices came after these entities failed to pay the fine imposed on them by the Securities and Exchange Board of India (Sebi) in August. In six separate notices, the markets watchdog directed these six entities to pay Rs 25.75 crore each. This includes interest and recovery costs within 15 days. In the event of non-payment of dues, the market regulator will recover the amount by attaching an