Mutual Funds

Sebi’s blue & brown labels solution may make MF products more confusing

Sebi’s blue & brown labels solution may make MF products more confusing

Capital market regulator Sebi last month made it compulsory for mutual funds to display certain prescribed labels on their products to determine their fitness for investors, but many experts believe that the regulation could create more confusion.

Effective from 1 July 2013, the new regulation will make mutual funds to place different labels to show if a particular product is suitable for capital appreciation, income generation, or the investment. There will also be a coloured box to indicate risks linked to the principal amount.

Motilal Oswal MF unveils first US equity-based ETF

Motilal Oswal MF unveils first US equity-based ETF

Motilal Oswal Asset management has launched its first NASDAQ- 100 based exchange traded fund. This fund has become the second global equity index fund in India. With the help of these funds Indian investors can own the global blue chip shares like Google, Starbucks, and Microsoft etc. This is an open ended fund that will give the exposure of non financial which constitutes the NASDAQ -100.

Mutual funds’ AUM drops 5% in last three quarter

Mutual funds’ AUM drops 5% in last three quarter

During the last Oct -Dec quarter, the Indian stock market might have performed really well but the mutual fund industry number of the average assets under management is giving a shock. They registered a downfall of 5%, while the Reliance MF's assets, the country's largest fund house dropped by over Rs. 5000 crore.

The all over industry AUM registered a downfall of Rs 37,904 crore, or 5.31%, in October-December period.

According to industry body Amfi, the combined average AUM of 40 fund houses fell to an astonishing Rs 6,75,376.97 crore at the end of December.

SEBI chief asks MFs to be simpler

SEBI chief asks MFs to be simpler

CB Bhave, Chairman of Securities Exchange Bureau of India (SEBI) said on Wednesday that the mutual fund products should be simpler and more investor-friendly. This, Bhave said, is the only way that the mutual funds will attract more and more investors.

He also said that the industry should come together and propose a common policy for governance.

mutual fund assets witnessed a double digit growth in may

mutual fund assets witnessed a double digit growth in may

According to reports from the association of mutual funds, India, the assets acquired by domestic mutual funds grew over 8 lakh crores in the month of may. This showed a 5% increase over the previous month. This amount was the average managed by about 38 mutual fund raisers and it still continuous to flow into these houses.

The ceo of birla sun life asset management, A. Balasubramaniam said that the high-net worth individuals as well as the corporates have pumped in money into the hybrid and debt funds. This would surely anticipate a very stable market for bonds near term

Long Term Investors to Be Rewarded by Fidelity MF

Long Term Investors to Be Rewarded by Fidelity MF

The equity fund investors of Fidelity Mutual Fund will get two free units of mutual funds for every 500 units held for the past five years, revealed the statement of the Fidelity MF.

Shinsei AMC plans to sell Mutual Fund business to Daiwa Securities Group

Shinsei AMC plans to sell Mutual Fund business to Daiwa Securities Group

Japan's Shinsei Bank has announced to sell all its stake holdings in its Indian mutual fund unit under its revised strategy to primarily focus on Japanese market. The bank has reportedly signed a deal at an undisclosed amount with Daiwa Securities Group for the proposed sell out.

Rahul Gupta, Senior Managing Executive Officer at Shinsei Bank added, "We are re-strategizing our corporate strategy to focus largely on Japan, post the global financial turmoil." However, he said that the bank has no hesitation to avail any suitable investment opportunity if available in the Indian market.

SBI Magnum Global Fund Reports Dividend

SBI Magnum Global Fund Reports DividendSBI Mutual Fund has reported a dividend of 50% (i. e. Rs. 5 per unit on the face value of Rs. 10) in SBI Magnum Global Fund. The record date for dividend is posted as March 12, 2010.

Assets of mutual funds registered a rise of 1.08 percent to 7.7 trillion rupees in February with equity funds' net monthly collections at the strongest since July, data from the Association of Mutual Funds in India depicted.

Gold-backed fund initiated by Religare Mutual Fund

Religare Mutual FundAs per the media reports, Religare Mutual Fund, an Indian money-manager with 158 billion rupees ($3.4 billion) in assets is mulling to initiate a gold-backed fund in the World's biggest user of the precious metal.

Public sectors banks gain from sale of stake in UTI AMC

Public sectors banks gain from sale of stake in UTI AMCUTI Asset Management Company Ltd, the country's fourth-largest fund house has announced that 26 per cent stake in the company has been acquired by the T Rowe Price Global Investment Services Ltd, a wholly owned subsidiary of T Rowe Price Group Inc.

The deal was concluded in October 2009 and been cleared by the government and SEBI.