The board of markets regulator Sebi on Tuesday agreed to change the buyback process to make it more investor-friendly, and introduced a new category of brokers with enhanced risk-mitigating measures. Sebi will also introduce a new platform to invest in direct plans of mutual funds. It changed rules that would enhance the board & governance … Read more
Growth of mutual funds (MFs) subsided in 2022 as the equity market struggled to inch up. Until November this year, the industry has added 5.8 million investors, compared with 6.8 million in the corresponding period last year. The assets under management has risen by Rs 2.6 trillion during the period, down 63 per cent from … Read more
L&T Finance Holdings LTd (LTFH) in a bid towards consolidating towards core business and unlock value from the non core businesses, has decided to sell out the mutual fund business. It’ is selling the business to HSBC India. Key points to note – L&T Mutual Fund (LTMF) is operated as a 100% subsidiary of LTFH. … Read more
Standard Life has sold 5% of HDFC Asset Management Company (HAMC) for Rs 3,061 crore. Key points to note – Standard has been a relentless seller in both HAMC as well as HDFC Life Insurance Company (HLIC). In HLIC, it reduced it’s stake from 29.28% in September 2018 to 3.89% in June 2021, whereas in … Read more
India’s $442 billion asset management industry is finally having to reckon with the passive investing juggernaut. After decades of sluggish growth, the number of accounts invested in index-tracking or exchange-traded funds more than doubled to 5.6 million in the year to April. Passive products now account for nearly a quarter of equity assets under management … Read more
Franklin Templeton Mutual Fund on Sunday said its six shut schemes have received Rs 13,789 crore from maturities, pre-payments and coupon payments since closing down in April. Franklin Templeton MF shut six debt mutual fund schemes on April 23, 2020 citing redemption pressures and lack of liquidity in the bond market. The schemes — Franklin … Read more
Making it the fourth consecutive monthly withdrawal, on profit booking by investors. All the equity schemes, barring large- and mid-cap and sectoral funds, have seen outflows, data from the Association of Mutual Funds in India (AMFI) showed on Monday. However, investors put in over Rs 1.1 lakh crore from debt mutual funds (MFs) last month … Read more
Markets regulator Sebi (Securities and Exchange Board of India) on Friday tweaked asset allocation framework for multicap mutual funds, asking such funds to have a minimum corpus of 75 per cent invested in equities as against the present mandate of 65 per cent. Further, such funds will have to make a minimum investment of 25 … Read more
A welcome move by SEBI – provides a liquidity mechanism to stuck investors.