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Risk-taking mutual fund investors can invest in Mirae NFO

Risk-taking mutual fund investors can invest in Mirae NFO

Finance
Savvy investors who have been through market cycles, with an appetite for risk and ability to bear volatility in the near term, could consider investing in the new fund offer (NFO) of Mirae Asset Midcap Fund. The NFO is open and closes on July 20. The fund will be managed by Ankit Jain and investors can put in a minimum of ₹5,000 as a lumpsum, or invest through the SIP route. Wealth managers believe there are a couple of reasons for savvy investors to look at this new fund offer. One, Mirae has a good track record in managing equity mutual fund schemes. Its flagship fund Mirae Asset Large Cap Fund has given a return of 15.21% in the last three years, while Mirae Asset Emerging Bluechip Fund has given returns of 16.65%. Second, after the sharp correction in mid cap category of funds, over t
Woodford fund goes into second month of suspension

Woodford fund goes into second month of suspension

Business
By Wale Azeez, business reporter Fund manager Neil Woodford will keep his flagship £3.7bn fund frozen for at least another month, leaving thousands of investors without access to their money.Mr Woodford, one of Britain's best known money managers, released a video - the second since the Woodford Equity Income Fund was suspended on 3 June - in which he said there was "no prescribed time limit" on how long it could cease trading for. However, the fund's authorised corporate director Link Fund Solutions said in a letter to investors posted on its website that it remained in the "best interests of all investors" to continue the suspension.Link is required to give an update on the suspension at least every 28 days.It said it expected to provide another upda
Steel pension fund in talks about £10.5bn buyout

Steel pension fund in talks about £10.5bn buyout

Business
By Mark Kleinman, City editor The trustees of the £10.5bn British Steel Pension Scheme (BSPS) are in secret talks to offload it two years after it was handed £550m to secure a rescue of the UK's biggest steel producer. Sky News has learnt that the BSPS board has kicked off discussions with a number of insurance giants about a blockbuster buyout of the scheme. The talks will determine the future responsibility for paying pensions to tens of thousands of c‎urrent and former workers at the vast Port Talbot steelworks in Wales.If successfully concluded, a deal would represent the biggest-ever transaction involving a corporate retirement fund, dwarfing a £4.6bn partial buy-in agreed by Rolls Royce Holdings and Legal & General earlier this month.The only
“We run Kotak Standard Multicap Fund with a large cap tilt,” says Harsha Upadhyaya, CIO – equity, Kotak AMC

“We run Kotak Standard Multicap Fund with a large cap tilt,” says Harsha Upadhyaya, CIO – equity, Kotak AMC

Finance
Kotak Standard Multicap Fund is the largest fund in the equity mutual fund universe, with assets worth Rs 26,010 crore. The scheme has significantly outperformed the category and its benchmark index in one-, three-, five- and seven-year periods. Moreover, it has navigated even the bear markets very well. Avneet Kaur of ETMutualfunds.com spoke to Harsha Upadhyaya, CIO-Equity & Senior EVP, Kotak AMC, to find out how he managed to deliver the impressive performance consistently.Kotak Standard Multicap Fund enjoys much higher alpha than the average alpha of the multi cap mutual funds category in both the three-and five-year periods. In fact, the scheme is a category topper in terms of generating returns for its SIP investors as well as lumpsum investors. How did you manage to deliver the b...
Neil Woodford fund should waive fees, MP says

Neil Woodford fund should waive fees, MP says

Business
Investors in the Woodford Equity Income Fund should not be charged fees while trading in the fund is suspended, the chair of the Treasury Committee says.Nicky Morgan also said the committee would raise the issue with regulators.High-profile stockpicker Neil Woodford stopped money going in or out of his fund on Monday after increasing numbers of investors wanted their money back.Bank of England governor Mark Carney has also warned about investments in assets that are difficult to redeem.'We trusted Neil Woodford with our money' Treasury Committee chair Nicky Morgan said that investors in the Woodford Fund had been "locked out of accessing their cash" but that it had been ...