Page 2 - Mutual Fund Industry

Fund Pick: Nippon India Large Cap Fund leads from the front, says CRISIL

The fund has consistently outperformed its peers in all trailing periods under analysis

AMCs likely to report strong gains in Q4FY24 on back of AUM growth

The share prices of listed asset management companies have outperformed the benchmark Sensex and analysts remain positive on the sector

Mutual funds SIP investments increase 28% to Rs 2 trillion in FY24

Buoyant economic outlook and increased market participation helped drive the inflows in the mutual fund industry through systematic investment plans or SIPs route to record Rs 2 lakh crore in 2023-24, marking a rise of 28 per cent year-on-year. In comparison, an inflow of 1.56 lakh crore was witnessed through this route in 2022-23, Rs 1.24 lakh in 2021-22 and Rs 96,080 crore in 2020-2021, data with the Association of Mutual Funds in India (Amfi) showed. Moreover, mutual fund SIP contribution has seen over four-fold rise during the last seven years. It was Rs 43,921 crore in 2016-17. Additionally, SIP book has also grown consistently from Rs 14,276 crore in March 2023 to an all-time high of Rs 19,270 crore in March 2024, indicating a growth of 35 per cent. The SIP contributions consistently exceeding Rs 19,000 crore for two straight months in February and March this year signal a shift towards a more disciplined investment strategy among investors. "This disciplined approach is fur

Blackrock, ADIA, domestic mutual funds increase holdings in Vedanta

The world's largest asset manager BlackRock, as well as the Abu Dhabi Investment Authority, along with domestic mutual funds like ICICI Mutual Fund and Nippon India Mutual Fund have increased their holdings in Vedanta by almost 2 per cent during the last four months, said market participants. At the same time, foreign institutional investors (FIIs) increased their stake in the conglomerate by 1.2 per cent during the corresponding period, they added. The recent rally in Vedanta share price on the back of demerger plans, deleveraging and soaring metal prices has led to a bullish call by domestic and international funds. "Vedanta has witnessed significant buying interest. Many foreign and domestic investors have increased their stake on the back of strong fundamentals," according to a dealer in a foreign brokerage house. This comes at a time when the Vedanta stock has surged almost 30 per cent, adding about USD 3 billion to its market capitalization since December. Shares of Vedanta

Mutual fund assets increase 34% during FY24, the highest in 7 years

Q4 average AUM surges to Rs 54 trillion on back of strong inflows, market rally

Journey of midcap, smallcap schemes: 6 years from the previous peak

Smallcap and midcap scheme categories have raked in over Rs 60,000 crore of investor flows in the past one year

Stress test: Top 6 smallcap funds need over 20 days to liquidate 50% assets

Sebi had called for such tests in the face of strong inflows into smallcap and midcap funds, despite concerns over high valuations, to keep investors better informed

AMCs may allow trail commission to mutual fund distributors: Amfi

Commission by Asset Management Companies to the New Distributor Upon a Change by the Investor

Nippon India Mutual Fund looking to increase presence in UP: CEO Sikka

Nippon India Mutual Fund is looking to increase its presence, both physical and digital, in Uttar Pradesh, which is expected to be the flag bearer for the mutual fund industry, its CEO said on Monday. Asserting that Uttar Pradesh will be the "flag bearer" of the mutual fund industry, Sundeep Sikka, the ED and CEO of Nippon India Mutual Fund said that the company remains "committed to UP". Sikka, who was in Lucknow to inaugurate the new regional office, told PTI, "UP is the fastest-growing market in India. The national average is that the mutual fund industry has grown 17 per cent, and the UP market has grown 23 per cent in the last five years. And we believe that UP will be the flag bearer for the mutual fund industry." "We are happy to serve 20 lakh investors in UP, and want to increase our digital and physical presence in the state," Sikka said. The company is already present in 31 locations in Uttar Pradesh. The company is inaugurating a new regional office of Nippon Life India

One-year ascent: Mutual funds go from Rs 40 trillion to Rs 53 trillion

Mark-to-market gains vs inflows: It's a 70-30

Mutual funds make a dash for hybrid funds before financial year ends

PPFAS, Quantum, Mahindra Manulife among those to launch new products

Equity mutual fund inflows jump to nearly two-year high in Jan: Amfi

Net equity mutual fund inflows rose 28 sequentially to Rs 21,781 crore ($2.62 billion), the highest since March 2022

Higher valuations the only spoiler for equities this year: Kenneth Andrade

Andrade says apart from valuations, the risks could emerge on the geopolitical front

Fund houses on Sebi's radar for sops to mutual fund distributors

Amfi writes to AMCs for second time in 10 months, asks them to withdraw such programmes

Financial planning for 2024, farmhouse luxury: Top personal finance stories

This week we advise on what to do about your money goals and how to plan a getaway investment in the greens

Sundaram Mutual Fund prioritises equity, gold in multi-asset offering

Multi-asset allocation funds have been the 'flavour of the season' in the hybrid space in financial year 2024 as fund houses have rushed to launch the product post the change in debt fund taxation

Sebi to focus on sachetising SIPs by making Rs 250 bets viable: Buch

Sebi chairperson Madhabi Puri Buch on Friday said the capital markets regulator wishes to sachetise mutual fund investments going forward. Speaking at an event hosted by Business Today here, Buch said the mutual fund industry feels investments of Rs 500 per month in a systematic investment plan are viable, but Rs 250 are not and the focus will be to try to look at ways of making such investments rewarding. "We are working with them (MF industry) to see where is the cost, what can Sebi do to facilitate making it possible to bring that viability down to Rs 250 a month, because then it is the equivalent of what Hindustan Lever did with shampoo sachets. You just explode the market," Buch said. The comments come on a day the MF industry reported its highest-ever monthly investments through SIPs at over Rs 17,000 crore for November. It also comes amid expectations of an aggressive entry by the Reliance Group entity Jio Financial Services into the MF space. Buch said such sachetisation wi

MF assets may have hit Rs 50 trillion milestone amid market rally

AUM, which took 24 mths to go from Rs 30 trn to Rs 40 trn, will add next Rs 10 trn in 12 mths

Sebi simplifies offer documents of mutual fund schemes for investors

To boost ease of preparation of the Scheme Information Document (SID) by mutual funds and increase its readability for investors, markets regulator Sebi on Wednesday simplified and rationalised the format of offer documents. The revamped format is aimed at streamlining the dissemination of relevant information to investors, rationalising the preparation of SID and facilitating its periodic updation by mutual funds. The updated format will implemented with effect from April 1, 2024, the Securities and Exchange Board of India (Sebi) said in a circular. The decision to revamp the format of SID was based on the suggestions of industry body AMFI and the recommendations of Sebi's Mutual Fund Advisory Committee. To give effect to the revisions in the SID, the regulator has modified several provisions. Under the modification, the scheme's portfolio holdings -- top 10 holdings by the issuer and fund allocation toward various sectors -- will be disclosed by way of a functional web link whe

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 ...