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Recent performance of Value Discovery Fund due to expensive markets, says Mrinal Singh of ICICI Prudential Mutual Fund

Finance
“In value investing, patience is a prerequisite to reap gains. That is why it is important for investors to stay put with their investments whether through SIP or otherwise. As value gets unlocked investors will be beneficiaries of exponential gains from these investments,” said Mrinal Singh, Deputy CIO- Equity, ICICI Prudential Mutual Fund, in an interview to Avneet Kaur of ETMutualFunds.com.ICICI Prudential Value Discovery Fund is underperforming its benchmark in one-, three- and five-year horizons. The scheme has given -8.60 per cent in the last one year, 3.31 per cent in the three-year period and 6.27 per cent in five years. What is the reason behind the underperformance?The recent performance of ICICI Prudential Value Discovery Fund has been a function of the markets being expensive w
Sorrell’s S4 Capital raises £100m to fund Google agency deal

Sorrell’s S4 Capital raises £100m to fund Google agency deal

Business
The marketing services mogul Sir Martin Sorrell will this week unveil a £100m share sale to fund another wave of takeover deals as his new venture edges closer to a £1bn valuation.Sky News has learnt that S4 Capital, which Sir Martin launched last year following his departure from WPP Group, will announce to the London Stock Exchange on Tuesday morning the launch of a placing and open offer. City sources said part of the proceeds of the fundraising will be used to finance the takeover of Firewood, the largest marketing agency in Silicon Valley.Founded in 2010 and employing more than 300 employees in the UK, Ireland, Mexico and the US, Firewood specialises in digital creative campaigns for clients including Facebook, VMWare, cloud software provider Salesforce, LinkedIn and the navigation ap
UTI Credit Risk Fund proposes segregated portfolio of Altico Capital

UTI Credit Risk Fund proposes segregated portfolio of Altico Capital

Finance
UTI Mutual Fund proposes to create segregated portfolio in respect of Altico Capital India in UTI Credit Risk Fund effective from September 13, 2019. This came after downgrade of debt instruments of Altico Capital India to ‘B’ i.e. ‘below investment grade’ by CARE Ratings Ltd. UTI Credit Risk Fund has an exposure of Rs 201.82 crore in debt security (INE587O07230) of Altico Capital India, amounting to 5.85 pe rcent of AUM. The exposure is as on September 12. How will the move impact investors? Upon recovery of money from Altico Capital India in the segregated portfolio, whether partial or full, it will be distributed to the investors in proportion to their holding in the segregated portfolio. The existing investors in the scheme, as on the day of creation of segregated portfolio, shall be a
EU ‘considers €100bn tech fund to fight US and China rivals’

EU ‘considers €100bn tech fund to fight US and China rivals’

Technology
By Ed Clowes, business reporter The EU is reportedly weighing plans for a €100bn (£90bn) fund that it hopes will fuel promising European technology companies and stave off competition from larger Chinese and US-based rivals such as Amazon and Alibaba.Under proposed plans set out by civil servants in Brussels, the so-called European Future Fund would invest in sectors that have fallen behind global rivals in recent years, according to documents seen by both Politico and the Financial Times. The initiative is part of a collection of suggestions presented to the incoming president of the European Commission, Ursula von der Leyen, who enters office on 1 November.The fund would prioritise acquiring long-term equity stakes in "EU-based corpor