Page 11 - Mutual Funds

Hybrid MFs stage comeback; see Rs 1.45 trn inflows driven by investments

Hybrid mutual fund schemes have seen a resurgence in 2023-24, garnering Rs 1.45 lakh crore in investments, driven by substantial inflows into the arbitrage category, following withdrawals in the previous fiscal year. The surge in assets was complemented by an increase in the number of investors, with the number of folios reaching 1.35 crore in March 2024 from 1.21 crore a year earlier, adding an investor base of 14 lakh. This shows investors' inclination for hybrid funds. Hybrid funds are mutual fund schemes that typically invest in a combination of equity and debt securities and sometimes in other asset categories such as gold. The category has been attracting regular inflows since the beginning of financial year 2023-24 in April after a change in taxation for debt funds that kicked off in the same month. Before that, the segment saw a net withdrawal of Rs 12,372 crore in March. Overall, the hybrid category saw net inflows of Rs 1.45 lakh crore in FY24, compared to an outflow of R

MFs drop exposure to banks, NBFCs in Q4; hike in auto and pharma

This comes amid persistent margin pressure and regulatory issues

Fundraising through bond placement hit all-time high at Rs 9.98 trn in FY24

Fund mobilisation through corporate bonds on private placement basis reached an all-time high of Rs 9.98 lakh crore in 2023-24, marking a surge of 17 per cent from the preceding fiscal, according to a release by primedatabase.com on Thursday. Prime Database Group Managing Director Pranav Haldea attributed the upswing to a surge in credit demand fuelled by strong economic growth. This came despite changes in taxation relating to debt mutual funds and expectations of lower borrowing costs. The highest fund mobilisation in 2023-24 (FY24) came from the All-India Financial Institutions/Banks category at Rs 4.68 lakh crore. This was in comparison to Rs 4.33 lakh crore raised in 2022-23, representing an increase of 8 per cent. The private sector (excluding banks or financial institutions) witnessed a 44 per cent jump, mobilising Rs 4.96 lakh crore compared to Rs 3.44 lakh crore in 2022-23. Government entities played a key role, collectively mobilising 39 per cent of the total amount, ...

Modest rise in net SIP inflows in FY24 owing to jump in redemptions by 54%

Net SIP inflows rise 4.9% even as gross collections rise 28%

Birla targets top 3 spot in mutual fund, lending, and life insurance

Aims to add 30 mn users in 3 years on the back of new financial services platform

Insurance, telecom offer multi-year growth opportunity: ITI Mutual Fund

According to the fund house, the weak rural demand may remain a headwind this year

Mutual fund assets soar 35% to new peak of Rs 53.4 trillion in FY24

The mutual fund assets surged by Rs 14 lakh crore or 35 per cent year-on-year to a record Rs 53.40 lakh crore in FY24, propelled by the growing participation of retail investors and buoyant equity markets. This percentage gain was the highest since fiscal 2021 when the industry had grown by 41 per cent, the Association of Mutual Funds in India (Amfi) said in its annual report. The robust gain in the industry's assets under management (AUM) was also replicated in the growth of investors in mutual funds, with the number of folios closing at a record high of 17.78 crore, adding an investor base of around 4.46 crore. Women comprised about 23 per cent of investors, while men accounted for around 77 per cent. The adoption of systematic investment plans (SIPs) continued to rise, with monthly net inflows touching about Rs 19,300 crore in March 2024. For fiscal 2024, net inflows through SIPs stood at Rs 2 lakh crore, showing increasing investor confidence and a disciplined investing ...

Quantum MF objects to scheme of merger of ICICI Securities with ICICI Bank

Quantum Mutual Fund has objected to the scheme of merger of ICICI Securities with parent firm ICICI Bank, saying it is "flawed and bridled with irregularities" and will adversely affect minority shareholders of the broking firm. Last month, ICICI Securities announced that about 72 per cent of its shareholders voted in favour of delisting and subsequent merger with ICICI Bank, even as the majority of retail investors opposed the scheme. "The scheme of merger is flawed and bridled with irregularities," Quantum Mutual Fund MD and CEO Jimmy Patel said in his letter written last week to ICICI Bank and forwarded it to market regulator Sebi and the stock exchanges. In the eight-page letter, Patel said that the scheme will substantially and adversely affect the interest of unitholders of the scheme of Quantum Mutual Fund and as well as minority shareholders of ICICI Securities. Highlighting irregularities, Quantum Mutual Fund has listed out four major grounds for objecting the scheme such

Quantum MF asks ICICI Bank to stall ICICI Sec delisting over irregularities

Last month, the delisting bid was approved by shareholders of both ICICI Bank and ICICI Securities

Mutual funds sought smallcap treasures in a sea of red as mkt takes a dip

Snap up Aster, Aavas during correction

Liquid mutual funds outflow exceeds Rs 1.5 trillion in March, shows data

Debt funds took a beating but sectoral funds soared in March, reflecting dynamic market sentiments

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

Recency bias, global cues underpin elevated valuations: Sailesh Raj Bhan

Bhan highlights that quick-service restaurants (QSRs), large banks, select utilities, and commodity businesses are a few market segments that are still sensibly valued

In a first, India's demat tally surges past 150 million mark in March

The milestone has come 19 months after the total number of demat accounts hit the 100-million mark, a sign that more domestic households are taking to direct equity investing

Bandhan Mutual Fund announces launch of the Bandhan Innovation Fund

The fund is ideal for investors with a long-term investment horizon and higher risk appetite, looking for diversification in their satellite portfolio and generating potential alpha

Mutual Fund KYC with bank statement, utility bill now invalid: Details here

From April 1, the range of documents accepted for proof of identity or address will be more limited, impacting both new and existing investors

Mutual funds' equity buying hits record Rs 45,120 crore in March

Robust inflows amid mid, smallcap correction and large block deals

Equity market returns to 'normalise' this fiscal year, says Canara Robeco

Canara Robeco Mutual Fund manages around 880 billion rupees ($10.55 billion) of Indian equities

AMCs outline riders to exit small, midcap MFs in case of market crisis

Redemption gating, cap on employee withdrawal among measures

March 31 deadline: Relief for mutual fund investors on re-KYC directive

While investors do not have to redo the KYC, they still have to validate their mobile number/email ID per the KYC records