Page 38 - Mutual Funds

Changing saving habits

Those were the days of the Harshad Mehta scam. IPOs were oversubscribed by a large margin and getting allotment was like winning a lottery

Domestic mutual funds load up Rs 1,000 cr on large private banks in October

In October, the benchmark Nifty50 index fell 2.8 per cent, the most since December 2023, while the Nifty Midcap 100 index declined 4.1 per cent, the most since June 2022

Inflow in mutual fund industry drops to Rs 34,765 crore in Sep quarter

The mutual fund industry continued with the positive momentum in the September quarter, attracting Rs 34,765 crore, although it was a massive reduction as against the Rs 1.85 lakh crore inflow in the preceding quarter, primarily due to withdrawal from debt segment. Most of the asset classes saw net inflows during the July-September period of the current financial year barring the fixed-income or debt segment, which witnessed net outflows. Overall, flows started on a strong note during the quarter under review, with net inflows of Rs 82,467 crore in July, which dipped to Rs 16,180 crore in August and ended with a disappointing Rs 63,882 crore of net outflows in September, according to a report by Morningstar India. "Net flows over the last few years over each quarter have been patchy. The flows seen in the June quarter were the highest in four years," it noted. The assets under management of the industry ended at Rs 46.22 lakh crore as of September, up 5 per cent since the previous

Funding assisted fertility; planning holiday: Top personal finance stories

Our best stories this week are what couples must know about the financial impact of IVF and places to go for a Diwali break

Direct MF entities can charge AMCs up to Rs 2 for transactions: Amfi

The announcement on transaction charges brings the much-needed clarity to such platforms ahead of the end-November deadline for choosing between the two options

Dhanteras 2023: Investment demand could drive gold prices up from current levels

Gold has given a return of 10.2 per cent compounded annually over the past two years. This has happened despite adverse macroeconomic developments, like the US Federal Reserve interest rate hike >

Amfi announces appointment of Venkat Nageswar Chalasani as new CE

Prior to this role, Chalasani served as the Deputy Managing Director (DMD) at the State Bank of India (SBI), where he spent almost four decades

MFs counter FPI outflow, pour in Rs 17,000 crore into equities in Oct

The above-average deployment by MFs indicates that inflows into equity schemes remained strong even as the market corrected in October

Retirement planning, secondary sources of income rise up the priority list

67% Indians now have retirement plan compared to 49% in 2020

Spreading the risk: India's MFs are now invested in nearly 1,000 companies

AUM rose to Rs 48 trn in September, with over half of the money invested in equity funds

India's long-term growth prospects remain strong, says MF CIO panel

Investment mavens say elections and global factors may lead to higher volatility in the short-term

Nippon Life India Mutual Fund Q2 results: Profit rises 19% to Rs 235 crore

Nippon Life India Asset Management Ltd (NAM India) on Monday reported a 19 per cent growth in profit at Rs 235 crore in the second quarter ended September 2023. It had posted a profit of Rs 197 crore in the same quarter of previous fiscal, the asset management company said in a regulatory filing. Total income stood at Rs 440 crore in the period under review as compared to Rs 383 crore in the quarter ended September 30, 2022. The board of Nippon Life India Asset Management Ltd has declared an interim dividend of Rs 5.50 per share for FY24, it said. As on September 30, 2023, NAM India's assets under management stood at Rs 4.35 lakh crore.

By 2030, MF industry will be 1/3rd of banking industry, says Nimesh Shah

At the event, Nilesh Shah, managing director of Kotak Mahindra Asset Management, emphasised the importance of spreading awareness to reach new customers

No correlation between market performance, general elections: Axis MF CIO

Ashish Gupta, chief investment officer (CIO) for Axis Mutual Fund, said there is no direct correlation between market performance and general elections

Mutual fund industry exploring a new product with 'flexible norms'

The MF product, if introduced, will also have a minimum investment threshold but will likely be much lower than that of PMS

Trust MF ropes in Mihir Vora as CIO; IRM Energy IPO subscribed 4.36 times

The initial public offering (IPO) of city gas distribution company IRM Energy was subscribed 4.36 times on the second day of the offer

Sebi speeds up NFO approval process; move comes as boost for newer players

Industry players said the pendency of applications has reduced drastically compared to last year. In several cases, NFOs have managed to obtain regulatory clearances in less than a month

Government reforms a key driver of PSU stocks’ market performance

Mutual funds investing in PSU stocks have delivered a return of more than 40 per cent over the past year. Earnings of PSU companies have improved considerably.

Domestic mutual funds roll out global debt funds amid rising yields

These higher yields make them the right fit for certain use cases. Investment advisors say the product can be looked at when saving for overseas goals

Investors need to exercise prudence after PSU funds' robust surge

Only high-risk investors should take limited exposure to these funds, provided they have a long horizon