Taking forward its deal to acquire the assets of ING Investment Management India, Birla Sun Life Mutual Fund has begun the process of merging all the schemes of the target entity with its own portfolios.
Investor interest in equity mutual fund (MF) schemes continued to remain high in August. Fund houses saw net inflows of nearly Rs 5,400 crore last month, adding to around Rs 20,000 crore worth of inflows in the three months to July.
Emphasising that higher threshold levels for mutual funds is in the interest of investors, Sebi chief U K Sinha has said minimum Rs 50-crore net worth for mutual funds is necessary to keep away non-serious players and to ensure stability of the financial
With issuances of Certificates of Deposit (CDs) likely to come down, mutual fund houses might increase their investments in other short-term instruments. The Reserve Bank of India (RBI) had revised the framework for liquidity management last week.
The investors' base of equity mutual funds (MFs) are on the rise as stock indices scale new highs. On an average 1,500 new equity accounts are being opened on a daily basis since the Narendra Modi-led government took charge in office this May.
Equity mutual funds witnessed an addition of more than 48,000 investor accounts, or folios, in July helped mainly by a sharp rise in stock market.This also marks the second consecutive monthly rise in investor accounts.
Many investors are asking for ways to lower their tax liability on redemption from debt mutual funds, says Anutosh Bose, chief operating officer at LIC Nomura Mutual Fund. He advises making use of the systematic withdrawal plan (SWP).
UTI Mutual Fund, the country oldest fund house, might revive its initial public offer (IPO) plan after the finance ministry's nod, which is expected soon."There is proposal for IPO of UTI Mutual Fund and the finance ministry is looking at it.
Improved market sentiment helped Mutual Funds pick up shares worth over Rs 5,000 crore in July, making it the highest monthly inflow in six-and-a-half years.This also marks the third consecutive monthly inflow.