Page 18 - Mutual Funds

Dhanteras 2023: Investment demand could drive gold prices up from current levels

Amfi announces appointment of Venkat Nageswar Chalasani as new CE

Prior to this role, Chalasani served as the Deputy Managing Director (DMD) at the State Bank of India (SBI), where he spent almost four decades

MFs counter FPI outflow, pour in Rs 17,000 crore into equities in Oct

The above-average deployment by MFs indicates that inflows into equity schemes remained strong even as the market corrected in October

Retirement planning, secondary sources of income rise up the priority list

67% Indians now have retirement plan compared to 49% in 2020

Spreading the risk: India's MFs are now invested in nearly 1,000 companies

AUM rose to Rs 48 trn in September, with over half of the money invested in equity funds

India's long-term growth prospects remain strong, says MF CIO panel

Investment mavens say elections and global factors may lead to higher volatility in the short-term

Nippon Life India Mutual Fund Q2 results: Profit rises 19% to Rs 235 crore

Nippon Life India Asset Management Ltd (NAM India) on Monday reported a 19 per cent growth in profit at Rs 235 crore in the second quarter ended September 2023. It had posted a profit of Rs 197 crore in the same quarter of previous fiscal, the asset management company said in a regulatory filing. Total income stood at Rs 440 crore in the period under review as compared to Rs 383 crore in the quarter ended September 30, 2022. The board of Nippon Life India Asset Management Ltd has declared an interim dividend of Rs 5.50 per share for FY24, it said. As on September 30, 2023, NAM India's assets under management stood at Rs 4.35 lakh crore.

By 2030, MF industry will be 1/3rd of banking industry, says Nimesh Shah

At the event, Nilesh Shah, managing director of Kotak Mahindra Asset Management, emphasised the importance of spreading awareness to reach new customers

No correlation between market performance, general elections: Axis MF CIO

Ashish Gupta, chief investment officer (CIO) for Axis Mutual Fund, said there is no direct correlation between market performance and general elections

Mutual fund industry exploring a new product with 'flexible norms'

The MF product, if introduced, will also have a minimum investment threshold but will likely be much lower than that of PMS

Trust MF ropes in Mihir Vora as CIO; IRM Energy IPO subscribed 4.36 times

The initial public offering (IPO) of city gas distribution company IRM Energy was subscribed 4.36 times on the second day of the offer

Sebi speeds up NFO approval process; move comes as boost for newer players

Industry players said the pendency of applications has reduced drastically compared to last year. In several cases, NFOs have managed to obtain regulatory clearances in less than a month

Government reforms a key driver of PSU stocks’ market performance

Domestic mutual funds roll out global debt funds amid rising yields

These higher yields make them the right fit for certain use cases. Investment advisors say the product can be looked at when saving for overseas goals

Investors need to exercise prudence after PSU funds' robust surge

Only high-risk investors should take limited exposure to these funds, provided they have a long horizon

Number of MF investors crosses 40 million, SIP flows scale a new high

Inflows in Sept were higher than the average flows seen in FY24

Inclination towards small-cap must be seen with risks linked: Sebi WTM

The Sebi whole-time member also asked the MF industry to keep robust checks on its commissions for distributors to avoid a perverse incentive system or malpractices and missellings

58% large cap index funds fail to beat underlying indices in first half

Large index funds continued to underperform in the first half of 2023 with 58 per cent large cap funds failing to beat their underlying indices and the overall underperformance being as high as 85.2 per cent. According to S&P Dow Jones Indices -- a leading index provider globally -- the underperformance rates for the domestic equity and bond mutual funds have been elevated over the past three- and five-year periods. Based on the varying performance of active managers across different fund categories, most equity large-cap funds failed to beat their benchmarks, with 58 per cent of actively managed funds underperformed on the S&P BSE 100 in the first half of 2023. In the fixed income fund category, while the BSE India government bond index rose 4.7 per cent in the first six months, fewer than one-sixth of active bond fund managers beat the benchmark during the period, with an underperformance rate of 85.2 per cent. But fewer funds performed badly as tenure, with underperformance

Fund managers improve largecap performance and stumble on smallcaps

Fund managers attribute this outperformance to a broad-based recovery in the market and a sharp surge in mid-caps and small-caps

Navneet Munot elected Amfi chairman, to take charge on October 16

The election brings an end to a two-year term of A Balasubramanian as the chairman and Radhika Gupta as the vice-chairperson