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Markets will test discipline, temperament of all of us: Kalpen Parekh of DSP Mutual Fund

Markets will test discipline, temperament of all of us: Kalpen Parekh of DSP Mutual Fund

Finance
DSP Mutual Fund is a respected name in the mutual fund industry. It has been two years since the fund house parted ways with its foreign partner and started operating on its own. Shivani Bazaz of ETMutualFunds.com spoke to Kalpen Parekh, President, DSP Investment Managers, find out how the fund house fared in the last two years, and his plans for it. " We can’t do much about market volatility and like always, there will be a set of investors who will take advantage of this slow phase to build their portfolios for the future and there will be many who may want to move out due to past experience. Our responsibility to hand-hold them and make them live through the phase of volatility will determine the growth rate of the industry," says Parekh.Edited interview. It has been almost two years si
No deal in sight; EU leaders haggle over budget, virus fund

No deal in sight; EU leaders haggle over budget, virus fund

World
European Union leaders have extended their summit for an extra day as they hunted for compromises on an unprecedented 1.85 trillion euro ($ 2.1 trillion) EU budget and coronavirus recovery fundBy RAF CASERT and MIKE CORDER Associated PressJuly 18, 2020, 9:34 PM4 min readShare to FacebookShare to TwitterEmail this articleBRUSSELS -- European Union leaders on Saturday extended their summit by an extra day, convinced they were finally closing in on a deal for an unprecedented 1.85 trillion euro ($ 2.1 trillion) EU budget and coronavirus recovery fund, an EU official said. Heading into a balmy summer night, a deal was still far off, but several key nations said negotiations were at least heading in the right direction despite tensions that were running high after months of battling the pandem...
Sebi gives exit route to mutual fund investors in wound up schemes

Sebi gives exit route to mutual fund investors in wound up schemes

Finance
The Securities and Exchange Board of India has said that the units of schemes in the process of winding up will have to be listed on recognised stock exchanges. This rule will have to be followed by all open and close-ended schemes. This move by the market watchdog comes after Franklin Templeton Mutual Fund decided to wind up 6 of its debt mutual fund schemes. In a circular issued on Wednesday, Sebi said: "In terms of Regulation 31B(1) of the MF Regulations, the units of Mutual Fund schemes can be listed in the recognized stock exchange. Accordingly, the units of Mutual Fund schemes which are in the process of winding-up in terms of Regulation 39(2)(a) of MF Regulations, shall be listed on recognized stock exchange, subject to compliance with listing formalities as stipulated by the stoc...
EPFO sets up ex-gratia death relief fund for families of employees who die due to coronavirus

EPFO sets up ex-gratia death relief fund for families of employees who die due to coronavirus

Finance
Retirement fund body Employees Provident Fund Organisation has announced an ex-gratia death relief fund of Rs 10 lakh to the family of its deceased employee in the event of death of an employee of the central board due to COVID-19, EPFO said in a statement. The decision has been taken in the wake of provident fund and pension services been declared as essential during the nationwide lockdown since March 23. Consequently, pan India staff of EPFO has been attending office on rotational basis, complying with the standard operating procedures for office to contain the spread of the pandemic. At present uniform death relief fund of Rs 3.9 lakh is paid in case of death of an employee of the central board. Let's block ads! (Why?) Personal Finance News-Wealth-Economic Times
Winding up of debt fund schemes by Franklin Templeton

Winding up of debt fund schemes by Franklin Templeton

Finance
How big is the Franklin Templeton Mutual fund and why is it in the news now?Franklin Templeton Mutual Fund is the 9th largest mutual fund house in India and manages assets worth ₹1.16 lakh crore. Late Thursday, it announced winding up six of its debt mutual fund schemes with immediate effect – from Friday. The current lockdown on account of the pandemic has led to risk aversion among investors and there are no takers for lower rated and unrated paper. So, when an investor redeems, the fund house ends up selling good quality liquid paper increasing concentration risk in the scheme, which is not in the interest of remaining unitholders. Looking at this scenario, FT has decided to wind up these six schemes. Which are the six funds that FT has wound up? The six funds are Franklin Low Duration,