Page 39 - Mutual Funds

Mutual funds, AIFs required to seek authorisation for each scheme: IFSCA

As of March 31, there were a total 50 schemes being offered by fund management entities

Some active funds made hefty bets on Jio Financial amid ETF selling

The report is based on MF portfolio data of only the active market-cap based schemes like largecap, smallcap and multicap

High on cash, MFs can support market in near term, says Goldman Sachs

According to the report, these schemes together manage assets worth $6.7 billion

Equity MF inflows hit 5-month high on record SIP run, easing outflows

Numbers reflect 'Indian investors' long-term approach to building wealth', says Amfi

Street Signs: MFs raise equity exposure, Jio effect on benchmarks, and more

Shares of RR Kabel were trading at a premium of 25-30 per cent in the grey market ahead of its initial public offering, which is set to open on September 13

SBI Mutual Fund agrees to invest Rs 410 crore in Nazara Technologies

Nazara Technologies on Thursday said the country's largest mutual fund SBI MF has agreed to invest Rs 410 crore in the company by subscribing to its preferential allotment of equity by way of private placement. The gaming and sports media platform said the shares carry a face value of Rs 4. The company will issue 57,42,296 shares at a price of Rs 714 per share, aggregating to Rs 409.99 crore, to SBI Mutual Fund by way of preferential issue on a private placement basis. The funds will be invested via three schemes of SBI Mutual Fund, namely SBI Multicap Fund, SBI Magnum Global Fund and SBI Technology Opportunities Fund, it said in a statement. Earlier this week, Nithin and Nikhil Kamath of Zerodha invested Rs 100 crore in the company. The issue is an addition to the issuance of up to 14,00,560 fully paid-up shares approved by the board on September 4, both together aggregating to an amount not exceeding Rs 510 crore, the company said. The fund will be utilised to invest in funding

Sebi working on AI tool to curb misselling by mutual funds: Chairperson

Markets regulator Sebi is building an artificial intelligence tool to help detect misselling by mutual funds, its Chairperson Madhabi Puri Buch said on Tuesday. She cited a recent incident of a 90-year-old being sold a product with a seven-year lock-in period to illustrate an instance of misselling, and said algorithms will help flag such cases. "We are working on the question of misselling that may happen by a mutual fund distributor or an agent or by someone who is the responsibility of the mutual fund," Buch said while speaking at the fourth Global Fintech Fest here. She admitted that this is a very complex problem requiring intelligence, and added that the algorithm being built will have the essential tools to detect misselling like flagging the case of a 90-year-old being sold the product with a long lock-in period. At present, mutual funds submit essential data to Sebi periodically with respect to compliance with regulations. A "nil report" is considered the best, Buch said.

Asset allocation to funds: Factors that shape portfolio performance

A rule-based approach in mutual fund investments will protect you from disappointment

Skin in the game: MFs have bet over Rs 80,000 cr on their own schemes

Most of the money goes to debt schemes, but equity allocations are rising

Arbitrage funds: Lower risk than equities and similar tax treatment

However, remember that returns fluctuate between years

PGIM India MF's ex-CEO Iyer settles inter-scheme transfers case with Sebi

Rajesh Iyer, former CEO of PGIM India Mutual Fund, on Thursday settled with Sebi a case related to flouting of mutual fund rules in executing inter-scheme transfers after paying Rs 16.57 lakh towards the settlement amount. The order came after Iyer filed an application with the Securities and Exchange Board of India (Sebi) in June to settle the alleged violations under the settlement rules. "The instant proceedings initiated against the applicant vide Show Cause Notice dated April 13, 2022, are disposed of," Sebi said in its settlement order. The regulator had initiated adjudication proceedings against Iyer and issued a show cause notice to him in April 2022 after finding a violation of mutual fund rules. Sebi carried out a thematic inspection on Inter-Scheme Transfers (ISTs) of downgraded debt securities of PGIM India Mutual Fund for the period of August 2018 to February 2019. In its inspection, Sebi observed that Iyer was the Chief Executive Officer (CEO) of PGIM Mutual fund dur

NBFCs, IT sector biggest draw for equity mutual funds in July, shows data

MFs sold a net of Rs 5,600 crore worth of industrial sector stocks in the April-July period

T-bill auction witnesses firm demand from Mutual Funds, private banks

Reserve Bank of India set the cut-off yield on the 91-day, and 364-day T-bills at 6.86 per cent, and 7.05 per cent respectively

From Jio Financial to Zerodha, Indian mutual fund managers going 'passive'

Fund houses have launched 23 passive funds so far this year, half the 45 launched in 2022 and well above 10 in 2019, data from Value Research shows

SBI Funds completes liquidation of assets in Franklin Templeton MF

SBI Funds Management Ltd on Tuesday said it has completed the liquidation of assets in the six shuttered debt schemes of Franklin Templeton Mutual Fund and distributed Rs 27,508 crore to the latter's unitholders. Franklin Templeton in April 2020 announced shutting down of the six debt mutual fund schemes, citing redemption pressures and lack of liquidity in the bond market. With this, SBI Funds Management has liquidated 217 securities and disbursed around Rs 27,508 crore which constitutes 109 per cent of the value of the securities as on date of winding up -- April 23, 2020, the company said in a statement. It further said that the liquidation activity was done without creating any market dislocation in order to get the best liquidation value and safeguard the interest of unitholders of Franklin Templeton Mutual Fund (FTMF). The company was directed by the Supreme Court in 2021 to undertake the exercise of disbursement and liquidation of assets of the six wound-up debt schemes of .

HDFC MF pares 2.12% stake in Garden Reach Shipbuilders and Engineers

HDFC Mutual Fund (MF) has pared 2.12 per cent stake in Garden Reach Shipbuilders and Engineers (GRSE) between February 28 and August 17, held by its schemes. The MF, informing the bourses, said it held a 7.4 per cent stake in GRSE as on February 28, and this has come down to 5.28 per cent as on August 17. HDFC Balanced Advantage Fund is the MF scheme that holds a stake in GRSE. As on June 30, this scheme held a 6.04 per cent stake in the company, BSE data showed. On the other hand, foreign portfolio investors (FPIs) held a 3.11 per cent stake in GRSE as on June 30, 2023. The government holds 74.5 per cent of the city-based PSU. GRSE shares rose 28.53 per cent during the week to close at Rs 748.55 in NSE with a high volume of trading. Foreign Portfolio Investors hold 3.11 per cent in the PSU warship maker as on June 30. Other PSU port stocks like Mazgaon Dock and Cochin Shipyard also rose during the week.

ESG funds continue to see outflow, Rs 520 cr pulled out in June quarter

Sustainable or ESG (environmental, social, and governance) funds in the country witnessed an outflow of Rs 520 crore in the April-June quarter of this fiscal, according to a report by Morningstar. This was higher than a withdrawal of Rs 470 crore seen from such funds in the preceding quarter. "While initial fund launches have attracted significant interest and flows, we have yet to witness continued flows for sustainable funds after their initial fund launch period. This has resulted in the lack of a discernible trend on a quarterly basis," the report noted. Continuing the trend of outflow, the year-to-date 2023 withdrawal was at Rs 1,060 crore as compared to Rs 1,020 crore in the preceding year. This is in contrast to the infusion of Rs 1.83 lakh crore for the year to date in the overall fund market. The report revealed that the coronavirus pandemic led to a marked increase in investor interest and fund launches for sustainable funds globally. "While the Indian sustainable fund .

New entrants slow off the blocks in top-heavy mutual fund industry

Five new fund houses Rs 12,400 crore AUM during their initial period

Bandhan Sterling Value Fund: Setting new benchmarks and surpassing peers

The fund's month-end assets under management increased to Rs 6,122 crore in June 2023 from Rs 2,339 crore in June 2020

Helios Capital gets Sebi's approval to launch mutual fund business

Helios Capital has received capital markets regulator Sebi's approval to launch a mutual fund business, Samir Arora, the main founder of the company announced. Helios Capital Management PTE Ltd, which is the business of portfolio management services, applied for a mutual fund licence with the Securities and Exchange Board of India (Sebi) in February 2021. "I am very happy to announce that Sebi has granted approval to Helios Mutual Fund...We need your wishes and support to make this new venture a success," Arora, who is also the fund manager at Helios Capital, wrote at X platform, formerly known as Twitter, on Thursday. After quitting Alliance Capital 20 years ago, Arora is re-entering the 43-player mutual fund industry. He was the Chief Investment Officer of Alliance Capital's Indian mutual fund business. In September 2022, Helios Capital received Sebi's in-principle approval to float the mutual fund business. Zerodha Broking Ltd and Old Bridge Capital Management Pvt Ltd are the