Page 4 - Sbi Mutual Fund

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

Gaming firm Nazara Technologies to raise Rs 410 cr from SBI Mutual Fund

Company will use investment for growth objectives including strategic acquisitions

Debt fund managers take active calls to risk-proof their portfolios

This comes even as most fund managers do not foresee rate hikes

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 .

SBI Mutual Fund listing off the focus, says chairman Dinesh Khara

SBI first revealed its intentions to take the mutual fund subsidiary public on December 15, 2021, with the aim of raising $1 billion

SBI Mutual Fund purchases United Breweries shares for Rs 678 crore

SBI Mutual Fund on Wednesday bought shares of United Breweries Ltd for Rs 678 crore through an open market transaction. According to the block deal data available with the NSE, SBI Mutual Fund acquired 46,28,452 shares of United Breweries Ltd (UBL). The shares were purchased at an average price of Rs 1,465.80 per piece, taking the aggregate transaction size to Rs 678.43 crore. Meanwhile, these shares were offloaded by the State Bank of India (S) at the same price. Shares of UBL rose 1.31 per cent to close at Rs 1,500 apiece on the NSE. As of the June quarter, dutch brewing major Heineken holds a majority stake in United Breweries Ltd.

SBI Mutual Fund AUM crosses Rs 8 trillion; eyes Rs 10 trillion milestone

SBI Mutual Fund, largest fund house by a wide margin in the 43-player industry, has clocked yet another milestone crossing the Rs 8 lakh crore-mark assets under management, adding Rs 90,000 crore to the asset pile during the first quarter of the fiscal. Given the current run rate in adding AUM (asset under management), the fund house expects to sniff at the Rs 10 lakh crore AUM-mark over the next 12 to 18 months too, a top company official has said. The 43-player mutual fund industry closed May with total assets of Rs 43.2 lakh crore despite a fall in net inflows into open-ended mutual funds, which almost halved to Rs 59,879.31 crore from Rs 1.24 lakh crore in April, when the industry-wide AUM stood at Rs 41.61 lakh crore. "We've added Rs 90,000 crore to our March 2023 AUM, when it was Rs 7.10 lakh crore, taking the total assets under our management to over Rs 8 lakh crore. In fact, we crossed the milestone yesterday," DP Singh, deputy managing director and chief business developmen

Biggest fund manager in India expects rupee to end its five-year slide

The currency will probably strengthen to 80 per dollar by the end of the year, according to Namrata Mittal, chief economist at SBI Mutual Fund

Principle of risk parity determines allocation in multi-asset fund: SBI MF's Dinesh Balachandran

Most retail investors find it difficult to create a multi-asset portfolio. Dinesh Balachandran, Fund Manager, SBI MF in conversation with Business Standard spoke on the investment approach in his fund

Cube Highways files document for privately placed Rs 5,226-crore InvIT

The InvIT, Cube Highways Trust, will raise Rs 3,803 cr in fresh capital and Rs 1,423 cr by way of secondary share sale by sponsor Cube

HDFC AMC gains 5% after SBI MF bought over 2% stake via open market

GQG Partners Emerging Markets Equity Fund sold 2.48 million shares in HDFC AMC worth Rs 396.83 crore.

SBI Mutual Fund buys over 4.7 mn shares of HDFC AMC for Rs 757 cr

SBI Mutual Fund on Monday bought 47.33 lakh shares of HDFC AMC for Rs 757 crore through an open market transaction. According to the bulk deal data available with the National Stock Exchange (NSE), SBI Mutual Fund purchased 47,33,788 shares of the company. The shares were acquired at an average price of Rs 1,600 apiece, taking the aggregate value at Rs 757.40 crore. On Monday, shares of HDFC AMC closed 0.17 per cent higher at Rs 1,681 per scrip on the NSE. In a separate bulk deal, Shrem Infra Structure Pvt Ltd offloaded shares in Shrem InvIT for Rs 178 crore through an open market transaction. Shrem Infra Structure Pvt Ltd is the sponsor of Shrem InvIT (Shrem Infrastructure Investment Trust). Shrem Infra Structure sold 1.56 crore shares at an average price of Rs 114 per piece, taking the transaction value at Rs 177.84 crore, as per the data available with the NSE. Rohit Kapadia and Kairus Shavak Dadachanji A/C Non-Discretionary were the buyers of the shares. Shares of Shrem Inv

SBI MF schemes buy 2.2% stake worth Rs 757 cr in HDFC AMC in open market

US-based investment firm GQG Partners offloads 1.16% holding; shares exchanged at average price of Rs 1,600 each

How SBI MF's R Srinivasan made big gains for smallcap fund investors

SBI Small Cap Fund's consistent performance is a result of the fund manager's endeavour to find good businesses run by competent people at reasonable prices

SBI MF's dividend yield fund collects over Rs 3,600 crore during NFO

NFO receives around 123,000 applications from over 70% of pincodes in India, the fund house says

SBI Mutual Fund raises Rs 3,600 crore through dividend yield NFO

SBI Mutual Fund on Monday said it has mobilised around Rs 3,600 crore in its New Fund Offer (NFO) for a dividend yield fund offering, giving it a market share of over 25 per cent in the segment. The fund house collected the amount on the back of a strong promotion in regional languages, with around 1.23 lakh applications from 70 per cent of pin codes in the country and around 40,000 new investors. The NFO of SBI Dividend Yield Fund was opened during February 20 to March 6, and it will reopen for subscriptions on March 17, the company said in a statement. With this fund collection, SBI Mutual Fund now commands over 25 per cent share, the largest in the Dividend Yield category, which now has a total assets under management of Rs 13,844 crore. The fund house believes that the category has a lot of potential and dividend yield funds should be part of an investor's portfolio, especially those looking to invest directly in equity or looking for a regular cash flow from dividends.

'Dividend yield funds offer downside protection during corrections'

Dividend yield funds offer downside protection during corrections, says Rohit Shimpi, Fund Manager, SBI Mutual Fund in an interview with Business Standard. Whatch the video to know what he said.

Adani Ports repays Rs 1,500 cr to SBI Mutual Fund, Aditya Birla Sun Life

Adani Ports and Special Economic Zone has repaid Rs 1,500 crore loan and will repay another Rs 1,000 crore in commercial papers due in March. The Adani Group firm paid Rs 1,000 crore to SBI Mutual Fund and Rs 500 crore to Aditya Birla Sun Life Mutual Fund on commercial papers that matured on Monday, as scheduled. "This part prepayment is from the existing cash balance and funds generated from the business operations," a company spokesperson said. "This underscores the confidence which the market has placed on the prudent capital and liquidity management plan for the group." An SBI MF spokesperson said it has no further exposure. "SBI MF had an exposure of around Rs 1,000 crore to Adani Group, which has been repaid on maturity. We have no further exposure to the Adani Group," the spokesperson said.

SBI Mutual Fund launches dividend yield fund, NFO open till March 6

The scheme will target aggregate dividend yield that is at least 50 per cent higher than the Nifty 50 index

Industry can aspire to reach $5 a person monthly SIP in five years: Bhatia

With this, monthly SIP inflows can reach Rs 50,000 cr, says Sebi whole-time member