Page 34 - Mutual Funds

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 ...

One-year ascent: Mutual funds go from Rs 40 trillion to Rs 53 trillion

Mark-to-market gains vs inflows: It's a 70-30

Sebi orders attachment of bank, demat accounts of DHFL's ex-promoters

Markets regulator Sebi has ordered the attachment of bank accounts as well as shares and mutual fund holdings of Dheeraj Wadhawan and Kapil Wadhawan, the former promoters of Dewan Housing Finance Corp Ltd (DHFL), to recover dues totalling over Rs 22 lakh. This came after the brothers failed to pay the fine imposed on them by the Securities and Exchange Board of India (Sebi) in July last year in a case concerning the flouting of disclosure norms. In two separate attachment notices issued on Tuesday, the markets watchdog has ordered the attachment of bank, demat accounts, and mutual fund folios of the Wadhawans to recover the pending dues. The pending dues of Rs 10.6 lakh each from Wadhawans comprise the initial penalty amount, interest, and recovery cost, it added. In July 2023, the regulator imposed a penalty of Rs 10 lakh each on Wadhawans, who were promoters of DHFL (now known as Piramal Finance), for flouting disclosure norms. Kapil Wadhawan was the Chairman and MD of DHFL, whi

Mutual funds pare holdings in Zee Ent by 40% post Sony merger deal fallout

Shares held by active MF schemes decline 40% to 173 million

'Investors should have balanced portfolio via flexicap, multicap funds'

Calendar 2024 will likely be a year of transitions. In 2023, the debate in the market was mostly around the completion of interest rate hike cycle, but this year it's about elections

Mutual fund folios continue upward trajectory; adds 4.7 mn accounts in Jan

Mutual fund industry has seen an uptick in folios, with the addition of 46.7 lakh investors' accounts in January, fuelled by increasing awareness about the financial instrument and ease of transactions through digitisation. Over the past year, average folio additions were 22.3 lakh per month and the latest figure was more than double this level. With this addition, mutual fund folios of the industry stood a shade away of 17 crore at 16.96 crore currently, a surge of 19 per cent from 14.28 crore registered a year earlier, latest data with the Association of Mutual Funds in India (AMFI) showed. On a month-on-month basis, the industry has seen a growth close to 3 per cent in folio numbers from 16.49 crore recorded in December 2023. Folios are numbers designated to individual investor accounts. An investor can have multiple folios. WhiteOak Mutual Fund Chief Business Officer Prateek Pant said that factors such as high levels of digital literacy, rising disposable incomes, and increase

Hybrid mutual funds scheme gain popularity, attract Rs 20,634 crore in Jan

Hybrid mutual fund schemes have been gaining popularity among investors, attracting Rs 20,634 crore in January, marking a 37 per cent surge from the previous month, largely due to their appeal as an alternative investment option post-change in taxation laws for debt funds. With this, total inflow in the category reached Rs 1.21 lakh crore in the April-January period of the current financial year (FY24). However, hybrid schemes saw outflow in the same period of the preceding financial year. 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 April 2023, 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 last year. According to the latest data with the Association of Mutual Funds in India (Amfi), hybrid schemes witnessed an

Young Indians take to SIP on financial literacy: WhiteOak MF official

Ease of transactions through the digital mode, rising disposable incomes and increased financial literacy are prompting young Indians to venture into mutual funds' Systematic Investment Plan (SIP), a top official of WhiteOak Capital Mutual Fund said. WhiteOak Capital Mutual Fund, which has 3.33 lakh investors and manages assets worth Rs 8,400 crore since its began operations one-and-half-years ago, said GenZs and Millennials account for 56 per cent of their investors. Millennials, also known as Gen Y, are typically defined as those born between 1981 and 1996. Generation Z, or GenZ, are those born between 1997 and 2012. The data shared by the fund house showed that 28 per cent each of its 3.33 lakh investors belong to the 18-35 years and 35-45 years age groups. The majority of its investors -- 51 per cent -- came through digital channels at the age of 18-35 years. "As millennials and GenZ are digital natives, it is quite natural for them to prefer technologically centric financial

Cash levels in smallcap mutual fund schemes swell as valuations turn lofty

Top 10 funds sitting on Rs 12,160 cr cash, up 40% from Aug '23; cash as percentage of AUM rises to 6.1%

Canara Robeco Mutual Fund launches fund on manufacturing theme

The tailwinds are emerging from several fronts - policy reforms like Production-Linked Incentive (PLI) and Make in India, global supply chain diversification, investments and capacity utilisation

Mutual Funds' Rs 13k cr balm as FPIs bleed out HDFC Bank in January

MFs bought 88.2 million shares in January after selling 53.3 million shares during the November-December period

Mutual Fund investors' grievances decline to 485 in first half of FY24

Mutual funds industry body Amfi on Wednesday said that the number of complaints received from investors and distributors was 485 for the half-year ended September 30, 2023, a decline of 21 per cent from the year-ago period. The consistently low complaint numbers highlight the mutual fund industry's continuous efforts to elevate service quality and transparency. In the first half of the fiscal year 2023-24, a total of 485 complaints were received, which was way lower than 619 complaints received in the same period of preceding fiscal, Association of Mutual Funds in India (Amfi) said in a statement. For the same period, the net assets under management increased from Rs 41.62 lakh crore in April 2023 to Rs 46.58 lakh crore at the end of September 2023 driven by a strong equity market, steady interest rates, and robust economic growth. "While the industry is growing at a fast clip, the data suggests that complaints against the MF industry are low," the industry body noted. Of these 48

10 mn in 2016 to 5 mn accounts in just a month; MF industry grows in 8 yrs

WEALTH GROWS SIP BY SIP: AUM and active accounts skyrocket 8x; monthly inflows achieve a 6x soar since 2016

Simplifying nominations can boost financialisation

The Securities and Exchange Board of India's (Sebi) recent consultation paper aimed at overhauling nomination facilities for mutual funds and securities in demat accounts seeks to rectify such issues

Equity mutual fund inflows hit 22-month high in January, shows data

Strong start to new calendar year with gross inflows topping Rs 50K crore; Industry AUM nears Rs 53 trn

BoI MF aims to raise Rs 500 cr from multi-asset allocation fund in NFO

Bank of India Mutual Fund is targeting to garner at least Rs 500 crore through its newly launched multi-asset allocation fund during the primary subscription period. The new fund offer (NFO) of Bank of India Multi Asset Allocation Fund, which opened for subscription on February 7, will close on February 21. The new scheme is designed for investors who are seeking low volatility in their portfolio and exposure to multiple asset classes -- equity, debt and gold -- with better returns. On the fundraising target, Mohit Bhatia, CEO of Bank of India Investment Managers Private Ltd, told PTI, "We have kept an internal target of at least Rs 500 crore collections across our distribution channels during the NFO period." He said that the new scheme is aiming to capture the positives of the three asset classes. "The structural outlook on Indian equities continues to be quite good over the long term. Further, the general outlook on global and domestic interest rates seems to point to a likelih

Mutual funds shareholding in listed firms at new high on strong net inflows

The gap between FPI and DII holdings narrowed to an all-time low in December, with DII holdings being 12.2 per cent lower than FPI holdings

Mutual funds knock RBI door for hike in foreign investment limits

According to MF officials, opening the MF route for international investment should not make much difference to the rupee's stability, given that other routes for foreign remittance remain open

We expect 50-75 bps rate cuts from RBI: Bandhan AMC's Suyash Choudhary

Choudhary says he expects the central bank to start cutting rates by mid-CY 2024