Banking Funds

National Bank of Canada's profit rises on wealth management, strong markets

National Bank of Canada's upbeat results come in contrast to rival Bank of Montreal, which reported a drop in quarterly adjusted profit on higher loan loss provisions

Allocate 5-10% to banking funds to gain from rate cuts, valuations

Since banking and financial services is a large listed space, it has 55 passively and actively managed funds. The most recent addition is Bandhan Nifty Bank Index Fund

Banking funds could outperform if economic recovery continues unimpeded

Global factors causing a slowdown and overexposure to this sector are key risks

Strong rebound in BFSI funds makes a good case for taking an exposure

Since these funds can be volatile, limit your exposure to 5 per cent

Sebi notifies rules in order to strengthen regulatory framework for CIS

To strengthen the regulatory framework for collective investment schemes, markets regulator Sebi has enhanced the net worth criteria and track record requirements for entities managing such schemes. Also, the regulator has mandated a minimum of 20 investors and a subscription amount of at least Rs 20 crore for each Collective Investment Scheme (CIS), according to a notification on Tuesday. Currently, CIS rules do not mandate minimum number of investors, maximum holding of a single investor or minimum subscription amount. In addition, the regulator has put a cap on cross-shareholding in Collective Investment Management Company (CIMC) to 10 per cent to avoid conflict of interest . To give this effect, the Securities and Exchange Board of India (Sebi) has amended CIS regulations. The rules, first notified in 1999, have not been reviewed since then. The move comes after the board of Sebi approved a proposal in this regard in its board meeting in March. The new rule is aimed at ...

Interest rate hike worries weigh on banking and PSU debt funds

Since the start of the current financial year till July, banking and PSU debt funds have seen outflows of Rs 1,247.44 crore

South Indian Bank reports Rs 7 crore net profit in March quarter

The bank reported a net interest income of Rs 561 crore, down 6 per cent year-on-year (YoY)

IDBI Bank to set off accumulated losses worth Rs 45,586-crore

The issued, subscribed and paid-up share capital is worth Rs 10,752.40 crore and the security premium is of Rs 50,732.27 crore.

ED arrests two after raids against Maharashtra MLA in PMC Bank fraud case

On Friday, the agency searched five residential and business premises linked to the Viva Group, promoted by Bahujan Vikas Agadhi (BVA) party chief and MLA Hitendra Thakur

Big banks let $2 trn in illicit funds move around world: FinCEN Files

Almost 90 financial institutions appear in the roughly 2,100 documents obtained, a fraction of the 2 million reports filed annually.

Asset quality uncertainty, weak credit growth take toll on banking funds

Fund managers say that the actual asset quality trends would emerge clearly after the December quarter of the current financial year

Franklin Templeton gave Rs 518 cr loan to YES Capital

Schemes among the six wound up by the fund house had given the loan crore against non-convertible debentures (NCDs) to the firm in March 2019, according to ED's chargesheet

Tipping point: Should you exit banking funds when the sector is down?

Even though market sentiment has turned against the banking sector currently, its long-term prospects remain strong

Banking funds have gained from global inflows amid US-China deal hopes

But beware that NBFCs with high exposure to real estate are not out of the woods yet

Banking funds have done better than other equity MFs: Should you invest?

Avoid taking too much exposure to banking sector funds as they tend to be volatile

Banking funds top sector performer

One-year return of 8.7%, even after shedding 5% in past month; outperform general benchmarks