fund | Common News Update

Apr22021 by adminNo Comments

Glastonbury Festival gets grant as part of £400m Culture Recovery Fund

Entertainment

Glastonbury Festival will receive a £900,000 grant as part of the government's £400 million Culture Recovery Fund.The festival was forced to cancel two events due to the pandemic and has announced a global livestream this year, on the first weekend music venues can reopen. Its co-organisers Michael and Emily Eavis said they were "extremely grateful to be offered a significant award"."After losing millions from the cancellation of our last two festivals, this grant will make a huge difference in helping to secure our future," they said.The Department for Digital, Culture, Media and Sport said the money will help the event this year and carry it through to 2022. ...

Mar32021 by adminNo Comments

Dolly Parton changes Jolene to vaccine as she gets jab she helped fund

Entertainment

Dolly Parton has been given the coronavirus vaccine she helped fund.The country singer, 75, "even changed one of my songs to fit the occasion", she told fans in a video filmed from Vanderbilt University Medical Centre in Nashville, Tennessee. To the tune of her hit Jolene, she sang: "Vaccine, vaccine, vaccine, vaccine, I'm begging of you, please don't hesitate. Vaccine, vaccine, vaccine, vaccine, because once you're dead, then that's a bit too late."Live COVID updates from the UK and around the world Parton donated $ 1m (£716,000) to help pharmaceutical firm Moderna develop its COVID-19 jab. ...

Feb132021 by adminNo Comments

Former SBI chief Rajnish Kumar to be exclusive advisor for Kotak Group’s USD 1 billion-stressed assets fund

Finance

Mumbai: Former chairman Rajnish Kumar was on Friday appointed as the exclusive advisor to a USD 1 billion-stressed assets fund floated by the group. Kumar retired as the chairman of the country's largest lender in October last year after an over four-decade career. Earlier this week, there were reports of global private equity major Baring Private Equity Partners appointing Kumar as an advisor. In a statement, Kotak Investment Advisors (KIAL) on Friday said Kumar will be the "exclusive advisor for its USD 1 billion special situation fund". KIAL had announced a fund raise of USD 1 billion in August 2019, anchored by a USD 500 million commitment from Abu Dhabi Investment Authority, a sovereign wealth fund. According to reports, KIAL was to invest the money over a four-year period while the...

Jan172021 by adminNo Comments

Europe’s biggest crypto fund sees no end to Bitcoin’s white-knuckle rally

Finance

MUMBAI: Meltem Demirors, Chief Strategy Officer at Europe’s largest crypto asset management firm CoinShares, expects Bitcoin price to rise further in 2021, simply because “there is just not enough Bitcoin to meet the massive wave of demand.” “I think there will be volatility and cyclicality, but the trend over the next year will continue to be upward, because this is really a supply-demand story,” Demirors told ETMarkets.com in an email interview. Demirors pointed to the massive influx of institutional investors into Bitcoin over the past 12 months, which has driven demand for the cryptocurrency to stratospheric levels. “The demand is coming from institutional investors, who want to allocate not $ 10 million or $ 20 million or $ 30 million, but $ 100 million or $ 500 million or even a bill...

Jan122021 by adminNo Comments

‘Heavy inflows in equity ETFs and debt funds pushes mutual fund AUM up’

Finance

A massive rally in the equity markets since May bringing in heavy inflows into equity ETFs and open-ended debt funds has helped mutual fund AUM grow 17 per cent to top the Rs 31-lakh-crore-mark in 2020, which is 1 percentage point lower than 2019, according to a report. During the year, the 44-player industry has added Rs 4.5 lakh crore to the AUM, while in 2019 it grew 18 per cent from Rs 22.86 lakh crore in 2018, when it had grown only 7.5 per cent, as per Crisil data. In 2017, the industry rallied 32 per cent and added over Rs 5.4 lakh crore in AUM. In the decade ending 2019, it had grown from Rs 8.52 lakh crore to Rs 27.6 lakh crore in 2019, an over three-fold jump. In December, the industry clipped at 3 per cent to take the overall AUM to Rs 31.02 lakh crore mark. "A buoyant run-up...