Page 33 - Mutual Funds

Equity MFs inflow nears 2-yr high at Rs 26,866 cr in Feb on strong NFO push

Overall, the mutual fund industry witnessed an inflow of Rs 1.2 lakh crore in February, almost similar to the one seen in the preceding month

DSP Mutual Fund launches US bond fund with flexibility on duration

Scheme to actively manage duration through seven US bond ETFs

MF distributors to get trail commissions for investor asset transfers

Mutual fund distributors will now have the opportunity to receive trail commissions from Asset Management Companies (AMCs) for assets transferred by an investor from one distributor to another. This change follows numerous requests from Mutual Fund Distributors (MFDs) to review the current AMFI Registration Number (ARN) transfer norms. These norms currently prevent AMCs from paying trail commissions to the new distributor when an investor transfers their assets to a new MFD. In a communication to its members on Tuesday, Association of Mutual Funds in India (Amfi) permitted AMCs to pay trail commission to distributors in case a client transfers his assets from one distributor to another. However, AMCs can only pay trail commission after cooling off period of six months from the date of transfer of assets by investors. "In respect of change in distributor/ ARN code initiated by the investor, the AMCs may consider making payment of trail commission to the transferee distributor afte

Majority of states, union territories have single-digit MF penetration

Per capita investment is less than Rs 10,000 in eight of them

Nippon India Mutual Fund looking to increase presence in UP: CEO Sikka

Nippon India Mutual Fund is looking to increase its presence, both physical and digital, in Uttar Pradesh, which is expected to be the flag bearer for the mutual fund industry, its CEO said on Monday. Asserting that Uttar Pradesh will be the "flag bearer" of the mutual fund industry, Sundeep Sikka, the ED and CEO of Nippon India Mutual Fund said that the company remains "committed to UP". Sikka, who was in Lucknow to inaugurate the new regional office, told PTI, "UP is the fastest-growing market in India. The national average is that the mutual fund industry has grown 17 per cent, and the UP market has grown 23 per cent in the last five years. And we believe that UP will be the flag bearer for the mutual fund industry." "We are happy to serve 20 lakh investors in UP, and want to increase our digital and physical presence in the state," Sikka said. The company is already present in 31 locations in Uttar Pradesh. The company is inaugurating a new regional office of Nippon Life India

Smallcaps not in extreme bubble territory: IIFL Securities chairman & MD

Venkataraman observes that markets will also receive support from monetary easing globally

MFs told to disclose stress-test reports of mid, smallcap schemes

The reports, which will also be published on Amfi's website, will have to be disclosed every 15 days

Mirae Asset Mutual Fund seeks Sebi's approval for mid, smallcap funds

While the industry has always had large and midcap funds, there is no scheme that offers exposure only to mid- and smallcap stocks

Sebi asks mutual fund houses to protect investors in small, midcap schemes

Capital markets regulator Sebi has asked mutual fund houses to put in place a framework to safeguard investors, who invested in smallcap and midcap schemes, amid a "froth building up" in these categories. Also, the regulator has suggested steps such as restrictions on inflows in these segments, portfolio rebalancing, and laying guidelines to safeguard investors from the first-mover advantage of redeeming investors. This came in the backdrop of strong flow in the small and midcap schemes of mutual funds over the last few quarters. In a communication to Association of Mutual Funds in India (AMFI) on Tuesday, Sebi asked the industry body to inform trustees of all the mutual fund houses to frame a policy to protect the interest of investors of smallcap and midcap schemes. "In the context of the froth building up in the small and mid-cap segments of the market and the continuing flows in the small and mid-cap schemes of mutual funds, trustees, in consultation with unitholder protection

Sebi moves to restrict inflows into small- and mid-cap mutual funds

Sebi's communication shows heightened regulatory concern on the surging inflows into Indian small- and mid-cap mutual funds and any potential ripple effects on the financial system

Limit flows into midcap, smallcap mutual funds: AMFI asks asset managers

AMFI made the request in a letter dated February 27, which has not been previously disclosed. It came following a communication from India's market regulator

Moderation in earnings growth may weigh on equities this year: Vinit Sambre

Sambre says while equities may do well in the long-term, it would be prudent for investors to reassess their asset allocation and bring it in line with their risk profile

Market regulator Sebi lens on MF free float ownership in smallcaps

Data needed to gauge liquidity risks in smallcap funds, say MF executives

'Single manager for commodity, overseas funds to cut costs for MFs'

Markets regulator Sebi's proposal of allowing mutual fund houses to have a single fund manager to oversee commodity and foreign investments is aimed at reducing the cost of managing the fund, a top official of Anand Rathi Wealth said on Tuesday. Sebi, on Friday, came out with a consultation paper proposing measures to support ease of doing business for Mutual Funds (MFs). In the draft paper, the regulator suggested appointing a single fund manager for domestic and overseas/commodity funds, relaxation of nomination requirement for joint holders and streamlining of prudential norms for passive schemes with respect to exposure to a single issuer within the AMC's group companies. This came after the Finance Minister in the FY24 Budget made an announcement to simplify, ease and reduce cost of compliance for participants in the financial sector through a consultative approach. "The appointment of a single fund manager for domestic and overseas/commodity funds is intended to reduce the co

Sebi asks small, mid-cap funds to disclose more information about risks

Heavy inflows have sent the Nifty small cap 250 index surging 71% over the past 52 weeks and lifted the Nifty mid cap 100 index 64%. That far exceeds the benchmark Nifty's 28% rise

There is alignment of everything that we need in banking: K V Kamath

"The rise of the mutual fund industry is key. Mutual funds today are taking in more money. These could give better returns than banks," said Kamath

International mutual fund schemes see fresh round of restrictions

Nippon India, Mirae Asset stop taking fresh investments in their international schemes

SBI MF energy fund collects Rs 6,700 crore in new fund offering period

According to the fund house, the scheme received flows from across the country through nearly half a million applications

Kotak Mutual Fund latest to place restrictions on smallcap funds

Investors can now put a maximum of Rs 200,000 as lumpsum each month and Rs 25,000 per month through the systematic investment plan (SIP) route

SBI Mutual Fund mops up over Rs 6,700 cr from Energy Opportunities Fund

SBI Mutual Fund, the country's largest mutual fund house, has collected over Rs 6,700 crore through its latest offering- energy opportunities fund - beating its internal target of Rs 5,000 crore. In a statement, the fund house said the NFO has received a widespread response from all distribution channels and the overall number of applications crossed close to 5 lakh. The NFO saw a large number of new investors participating which underscores the trust of investors and distributors in SBI Mutual Fund. It also underlines the strong belief that investors have in the energy theme, it said. The Energy Opportunities Fund is an open-ended equity scheme following the energy theme tracking the energy index of the benchmark Nifty. The scheme would invest 80-100 per cent of its assets in equity and equity-related instruments of companies engaged in energy (traditional and new) and allied business activities and the balance in other equity and equity-related instruments, including equity ...