Page 22 - Mutual Funds

Protecting Streedhan, tailored dressing: Top personal finance stories

Our top stories this week tell you about a woman's inalienable financial right and why tailored clothes are better than readymade

HDFC Mutual Fund buys 1.13 million Cyient shares for Rs 204 crore

HDFC Mutual Fund on Thursday bought shares of global digital engineering and technology company Cyient Ltd for Rs 204 crore through an open market transaction. According to the bulk deal data available with the BSE, HDFC Mutual Fund purchased 11.33 lakh shares, amounting to a 1.02 per cent stake in Cyient. The shares were picked up at an average price of Rs 1,800 apiece, taking the deal size to Rs 204.10 crore. After the stake buy, HDFC Mutual Fund's shareholding in Cyient has increased to 2.1 per cent from 1.08 per cent. The details of the sellers could not be ascertained. On Thursday, shares of Cyient fell 0.67 per cent to close at Rs 1,794.30 apiece on the BSE. In a separate transaction on the NSE, Ventureast divested a 1.8 per cent stake in fintech player Zaggle Prepaid Ocean Services for Rs 67 crore through an open market transaction. Bengaluru-based Ventureast through its affiliate Ventureast Proactive Fund LLC offloaded 22.27 lakh shares, amounting to a 1.8 per cent stake

Mutual Fund KYC: How to verify status online, fix PAN-MF folio mismatch

Investors with an 'on hold' KYC status will not be able to carry out any transactions in mutual funds

Rising threshold for large, midcaps supports noise for tweak in methodology

Sebi has received a lot of feedback on tweaking the approach for the categorisation of stocks and soon the regulator could announce a new methodology

IL&FS MF pays Rs 600 crore to debt infra investors; makes timely redemption

IL&FS Mutual Fund on Wednesday said it has paid a little over Rs 600 crore to investors in its infrastructure debt fund. The debt scheme -- IL&FS Infrastructure Debt Fund Series 1C-- was redeemed on due date on April 30, making it a timely redemption, according to a statement issued by IL&FS Group. The scheme redeemed Rs 606 crore against the original invested capital of Rs 275 crore delivering a return of 8 per cent per annum to the investors since inception. IL&FS Mutual Fund (IDF), which is amongst the largest infra debt funds in the mutual fund format, had successfully redeemed schemes on time in January 2023. Total funds returned to the investors of the mutual fund over the past five years are Rs 1,580 crore. IL&FS Infrastructure Debt Fund is managed by IL&FS Infra Asset Management Ltd. The target investors for the fund are banks, pension funds, insurance companies, foreign investors, sovereign wealth funds and bilateral or multilateral associations. In ...

Sebi allows NRIs to own up to 100% in global funds at the GIFT City

Allows higher exposure to passive funds in group companies; increases NRI/OCI exposure to 100% if route via Gift City

Sebi board takes measures to curb fraudulent trades in mutual funds

Sebi board on Tuesday decided to amend norms governing mutual funds, whereby asset management companies (AMCs) need to put in place an "institutional mechanism" for identification and deterrence of potential market abuse, including front-running and fraudulent transactions in securities. The mechanism should consist of enhanced surveillance systems, internal control procedures, and escalation processes to identify, monitor and address specific types of misconduct, including front running, insider trading, and misuse of sensitive information, Sebi said in a statement issued after the conclusion of the board meeting. With a view to address the issues faced by venture capital funds (VCFs) registered under the erstwhile VCF norms with respect to their inability to fully liquidate the investments of their schemes within the tenure of the scheme, the Sebi's board has approved a proposal to provide an option to such VCFs to migrate into AIF (Alternative Investment Fund) rules and avail the

Fund houses' ticker-tape parade of fiscal success on the D-Street

Robust performance buoyed by soaring AUM and stellar equity performance

Health insurance age reform; NPS vs MF: Top personal finance stories

This week we report about how senior citizens should buy health insurance and what is a better retirement corpus

Invesco agrees to pay Rs 5 cr to Sebi for settlement in MF violation case

In an inspection conducted in 2021, the market regulator found that there was no clear segregation of activities between portfolio management activities and mutual fund activities of the firm

Fund managers trim PSB exposure, see better value in private banks

MFs pull out Rs 2,500 crore in March from state-owned lenders; replough Rs 4,900 crore into private sector peers

Small, midcap funds remain mutual fund investors' top choice in March

Smallcap funds added 360,000 folios in March, second-most among equity-scheme categories

Mutual funds collection through NFOs up 6.5% at Rs 66,364 crore in FY24

Asset management companies (AMCs) floated 185 new fund offerings mobilising Rs 66,364 crore in 2023-24, marking a 6.5 per cent increase from the previous year, amidst growing interest of retail investors and significant uptrend in broader markets. This was higher than Rs 62,342 crore garnered by AMCs through 253 New Fund Offerings (NFOs) in 2022-23. "The financialisation of savings in India is currently underway, signifying a growing recognition among investors that investing in financial assets is integral to building wealth. With income and expenditure levels rising constantly, there is a heightened need to channel monthly savings into avenues offering higher returns. The substantial inflow of investments into equities underscores a notable shift in investor attitudes and risk appetites," FYERS Research said in its report. As India's growth narrative gains momentum and investment opportunities expand, many unlisted companies seek capital market support. This trend bodes well for .

Hybrid MFs stage comeback; see Rs 1.45 trn inflows driven by investments

Hybrid mutual fund schemes have seen a resurgence in 2023-24, garnering Rs 1.45 lakh crore in investments, driven by substantial inflows into the arbitrage category, following withdrawals in the previous fiscal year. The surge in assets was complemented by an increase in the number of investors, with the number of folios reaching 1.35 crore in March 2024 from 1.21 crore a year earlier, adding an investor base of 14 lakh. This shows investors' inclination for hybrid funds. Hybrid funds are mutual fund schemes that typically invest in a combination of equity and debt securities and sometimes in other asset categories such as gold. The category has been attracting regular inflows since the beginning of financial year 2023-24 in April after a change in taxation for debt funds that kicked off in the same month. Before that, the segment saw a net withdrawal of Rs 12,372 crore in March. Overall, the hybrid category saw net inflows of Rs 1.45 lakh crore in FY24, compared to an outflow of R

MFs drop exposure to banks, NBFCs in Q4; hike in auto and pharma

This comes amid persistent margin pressure and regulatory issues

Fundraising through bond placement hit all-time high at Rs 9.98 trn in FY24

Fund mobilisation through corporate bonds on private placement basis reached an all-time high of Rs 9.98 lakh crore in 2023-24, marking a surge of 17 per cent from the preceding fiscal, according to a release by primedatabase.com on Thursday. Prime Database Group Managing Director Pranav Haldea attributed the upswing to a surge in credit demand fuelled by strong economic growth. This came despite changes in taxation relating to debt mutual funds and expectations of lower borrowing costs. The highest fund mobilisation in 2023-24 (FY24) came from the All-India Financial Institutions/Banks category at Rs 4.68 lakh crore. This was in comparison to Rs 4.33 lakh crore raised in 2022-23, representing an increase of 8 per cent. The private sector (excluding banks or financial institutions) witnessed a 44 per cent jump, mobilising Rs 4.96 lakh crore compared to Rs 3.44 lakh crore in 2022-23. Government entities played a key role, collectively mobilising 39 per cent of the total amount, ...

Modest rise in net SIP inflows in FY24 owing to jump in redemptions by 54%

Net SIP inflows rise 4.9% even as gross collections rise 28%

Birla targets top 3 spot in mutual fund, lending, and life insurance

Aims to add 30 mn users in 3 years on the back of new financial services platform

Insurance, telecom offer multi-year growth opportunity: ITI Mutual Fund

According to the fund house, the weak rural demand may remain a headwind this year

Mutual fund assets soar 35% to new peak of Rs 53.4 trillion in FY24

The mutual fund assets surged by Rs 14 lakh crore or 35 per cent year-on-year to a record Rs 53.40 lakh crore in FY24, propelled by the growing participation of retail investors and buoyant equity markets. This percentage gain was the highest since fiscal 2021 when the industry had grown by 41 per cent, the Association of Mutual Funds in India (Amfi) said in its annual report. The robust gain in the industry's assets under management (AUM) was also replicated in the growth of investors in mutual funds, with the number of folios closing at a record high of 17.78 crore, adding an investor base of around 4.46 crore. Women comprised about 23 per cent of investors, while men accounted for around 77 per cent. The adoption of systematic investment plans (SIPs) continued to rise, with monthly net inflows touching about Rs 19,300 crore in March 2024. For fiscal 2024, net inflows through SIPs stood at Rs 2 lakh crore, showing increasing investor confidence and a disciplined investing ...