Page 40 - Mutual Funds

Deadline to add nominees for MF investors, demat account ends on Sep 30

All individual demat account holders and mutual fund investors have time till September 30, to nominate a beneficiary or opt out of it by submitting a declaration form, failing which their demat accounts and folios will be frozen, and they will not be able to redeem their investments. This mandate applies to both new as well as existing investors, according to the Securities and Exchange Board of India (Sebi). The move is aimed at helping investors to secure their assets and pass them on to their legal heirs. "This will ensure smooth and hassle-free transfer of securities to the legal heirs of the investors in case of any unfortunate event," Tejas Khoday, co-founder and CEO at FYERS, said. Under Sebi's rule, new investors must either nominate their securities or formally opt out of nomination through a declaration form when opening trading and demat accounts. For existing investors, including jointly-held mutual fund folios, failing to meet this deadline will result in the freezin

Capitalise on the industry insight by investing in its sector fund

Choosing such a fund based on recent returns can, however, jeopardise portfolio performance

Sebi empanels 34 entities for forensic investigation of MFs, AMCs, trustees

Sebi has empanelled 34 entities, including Ernst & Young LLP, Deloitte Touche Tohmatsu India LLP and Grant Thornton Bharat LLP to conduct forensic investigation of mutual funds, their asset management companies (AMCs) and trustees. KPMG Assurance and Consulting Services LLP, Chokshi & Chokshi LLP, Nangia & Co LLP and Pipara & Co LLP are among the other empanelled entities, the Securities and Exchange Board of India (Sebi) said in a latest update. The period of empanelment is from September 20, 2023 to September 19, 2026, it added. These 34 entities have been empanelled after evaluation of all the applications in response to Expression of Interest (EoI) invited by the capital markets regulator in February. The entities are required to undertake acquisition, extraction and analysis of digital evidence from mobile, computers, tablets, hard drives and USB drives. Also, they need to prepare and submit a report mentioning the findings and conclusions of the analysis. In ...

Mutual funds attract 6% of household savings in FY23, shows RBI data

Fiscal sees a record Rs 1.8 trillion net inflows from households

Sebi to relax rules around mandatory borrowing from corporate bond market

Regulator could also clear framework for index providers; decisions likely at Thursday's board meet

Rs 6,100 crore in 3 months: Riding the wave of floating-rate mutual funds

Influx reverses Rs 32,250 crore outflow trend of 11 months

A new dawn for microfinance

There are many contributing factors to the growth and new-found enthusiasm for microfinance

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