Page 8 - Mutual Funds Industry

Sebi slaps over Rs 32 crore penalties on IISL, AFSL, 3 individuals

Sebi has imposed penalties totalling more than Rs 32 crore on IL&FS Securities Services Ltd (ISSL), Allied Financial Services Pvt Ltd (AFSPL) and three individuals for lapses in connection with alleged fraudulent transfer of mutual fund units of three companies. Besides, the watchdog has passed various directions against them. The regulator has passed two separate orders, dated July 2, against ISSL, and AFSPL and its three directors after it carried out a detailed investigation into the matter for the period from February 20, 2017 till February 8, 2019. ISSL is a clearing member while AFSPL is a depository participant. While imposing a fine of Rs 26 crore on ISSL, a clearing member, and also passing certain directions, Sebi noted that its order would be subject to any order passed by the Supreme Court. Also, enforcement of the liability and the order would be subject to the orders of the National Company Law Tribunal and the National Company Law Appellate Tribunal (NCLAT). These

Invesco Mutual Fund unveils Invesco India Medium Duration Fund

The fund is an open-ended medium-term debt scheme

Returned Rs 17,777 cr to investors of shuttered schemes: Franklin Templeton

This amounts to 71 per cent of assets under management (AUM) as on April 23, 2020

Mutual Fund SIP asset base touches all-time high at Rs 4.67 trillion in May

SIP AUMs have seen a close to four-fold jump to Rs 4,67,366 crore as of May this year from Rs 1,25,394 crore as of August 2016.

Sebi's Franklin Templeton order sends ripples across MF industry

Fund houses to review investment processes; opt for safety over returns

Sebi gives more time to mutual funds to implement new disclosure rules

The new norms were to come into effect from June 1.

Aditya Birla Sun Life AMC multi-cap fund garners over Rs 1,900-cr

Aditya Birla Sun Life AMC on Monday said it has received more than 88,000 applications garnering over Rs 1,900 crore for its new multi-cap scheme during the New Fund Offer (NFO) period. The new fund -- Aditya Birla Sun Life Multi-Cap Fund-- is an open-ended equity scheme investing across large cap, mid cap & small cap stocks, the asset management company said in a statement. The NFO was open between April 19 and May 3. The fund has reopened for subscription from May 10. "Despite the logistical challenges posed by the pandemic, we have attracted over 88,000 applications covering more than 9,600 pin codes across T30 and B30 markets. What is also noteworthy is the contribution coming from diversified channels across the board exhibiting our distribution strength as a fund house," A Balasubramanian, MD and CEO, Aditya Birla Sun Life AMC, said. According to him, the interest received in this new fund is also a reflection of the growing appetite of equity investments in the ...

ICICI Prudential AMC proposes to rollover three FMPs to negate M2M impact

Move will also give investors indexation benefit on long-term capital gains

Amfi asks MFs to include cash component in overall yield of debt schemes

Sebi had earlier expressed displeasure at fund houses depicting portfolio yield of debt schemes by leaving out yields on cash and cash equivalents

MFs step up launches of schemes seeking to invest in foreign markets

Most funds in FoF space chasing unique themes

Sebi's new compensation rule to create arbitrage in favour of index funds

Index funds, ETFs, overnight funds and close-ended funds have been exempted from the new rule.

MFs add 8.1 mn investors account in FY21, experts hopeful of growth

Experts hope that the healthy growth in folios would continue in the ongoing fiscal also

Mutual funds' assets under management surge 41% to Rs 31 trillion in FY21

Assets under management (AUM) of the mutual fund industry witnessed a growth of 41 per cent in the last financial year

Aditya Birla AMC considering IPO, may join fund houses in opting to list

SBI AMC, India's largest asset manager, is said to be planning an IPO too

HDFC Mutual Fund sells 2.73% stake in Just Dial for over Rs 108 cr

The sale took place through an open market transaction

Rush for NFOs amid buoyancy in markets to offset net redemptions

Over 12 offer documents filed in a single day last week

Domestic mutual funds trim holdings in Reliance Industries, Infosys

This was in a month when the benchmark Sensex retreated 3 per cent

Equity mutual funds see outflow for seventh straight month in Jan

Equity mutual funds witnessed an outflow of Rs 9,253 crore in January

RBI raises concerns over increase in assets of money market mutual funds

The RBI said MFs showed a marked preference for long-term debt while also holding equity shares.

After Sebi mandate on multicap funds, Axis MF moves scheme to new category

Axis Mutual Fund renamed its multicap scheme and moved it to a new category where it will not be constrained by market cap restrictions