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Tag: Mutual

Mutual funds managing more equity assets than insurers for the first time: ICRA report

Mutual funds managing more equity assets than insurers for the first time: ICRA report

Finance
For the first time, mutual funds have managed more money in equities than insurers in the month of October 2018, according to the data released by National Securities Depository Limited (NSDL). As per the data, equity assets managed by insurance companies came in at Rs 9.22 lakh crore as against Rs 9.32 lakh crore by mutual funds. Data released by Association of Mutual Funds in India (AMFI) showed that assets under management (AUM) of the mutual fund industry grew at 8.08% month-on-month (MoM) and 5.45% year-on-year (YoY) basis to Rs 24.03 lakh crore in November 2018. Equity AUM (including equity linked savings scheme), balanced funds and ETFs run by mutual funds stood at Rs 10.44 lakh crore in November 2018, up by 3.74% (MoM basis) and 8.92% (YoY basis). As per ICRA report, the mutual fun...
Are your debt mutual funds in danger because of IL&FS, NBFC crisis?

Are your debt mutual funds in danger because of IL&FS, NBFC crisis?

Finance
The IL&FS default saga and crisis in the NBFC space are casting a long shadow in the debt mutual fund space. The recent dip in NAV of two debt mutual fund schemes of Tata Mutual fund that held IL&FS papers further spooked investors. Tata Money Market Fund saw a 5.94 per cent dip in its NAV on October 29. Tata Short Term Fund also saw a 3.2 per cent fall in its NAV. The dip in NAV of Tata schemes was because the fund house wrote off the balance 50 per cent of its investment in the commercial paper of IL&FS after the infrastructure company failed to pay the maturity proceeds. The CP was to mature on October 29. “The IL&FS paper matured this month and we did not get the money, so we had to write it down to zero. Rs 25 crore CP had matured in Tata Short Term Bond Fund and we did...
Mutual fund investors are not cashing out

Mutual fund investors are not cashing out

Finance
MUMBAI: A section of the retail investors in India is showing signs of maturity. Despite a sharp slide in the leading indices, several investors are not rushing to redeem their investments from equity mutual funds. This is a clear departure from earlier habits when retail investors hurried to redeem when markets showed a sharp southward movement. In fact, some are considering investing more since prices of a large number of good quality stocks are down, fund managers and financial planners said. In September, there were net inflows of about Rs 8,000 crore in equity funds, of which about Rs 7,000 crore was through the systematic investment plan (SIP) route and the balance as the lump sum investments, said A Balasubramanian, chairman, AMFI, the mutual fund industry trade body. MF distributor...
HDFC Mutual Fund gets Sebi go-ahead for IPO

HDFC Mutual Fund gets Sebi go-ahead for IPO

Finance
New Delhi, Jun 28 () HDFC Asset Management Company, the country's largest mutual fund firm, has received Sebi's go-ahead to float an initial public offer. The company had filed draft papers with Securities and Exchange Board of India (Sebi) in March and received its "observations" on June 22, as per the latest update with the markets watchdog. Sebi's observations are necessary for any company to launch public issues like rights issue, initial public offer (IPO) and follow-on public offer (FPO). HDFC AMC operates as a joint venture between Housing Development Finance Corporation (HDFC) and Standard Life Investments. Going by the draft papers, the proposed IPO offers up to 2.54 crore equity shares of the fund house through an offer for sale of 85.92 lakh shares by HDFC and up to 1.68 cro...
Domestic mutual funds are selling these smallcaps and midcaps in hordes. Check out why

Domestic mutual funds are selling these smallcaps and midcaps in hordes. Check out why

Finance
NEW DELHI: And you thought midcaps and smallcaps have been under pressure over the past three months because of the Sebi reclassification, requiring mutual funds to rejig their portfolios? Mutual fund houses across the board exited several midcap and smallcap stocks over the past three months. As such, while the largecap equity indices have shown signs of stabilising in recent weeks, midcaps and smallcaps continued to be in turmoil. In fact, these stocks continued to bear the brunt of the selloff in market. Data showed BSE midcap and smallcap indices were up 50-55 per cent in last three years, but are down 10-12 per cent year-to-date. BSE smallcap and midcap indices fell 6 per cent each in May. Some analysts say there has been a structural shift among institutional and individual investors...