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.
The Securities and Appellant Tribunal (SAT) on Friday did not pronounce its verdict on a plea against in-principle approval given by the Securities and Exchange Board of India (Sebi) to Institute of Mutual Fund Intermediaries (Imfi) for a self-regulatory
Employees of the country’s oldest mutual fund - UTI - were recently allowed to convert their stock options into shares for the first time since the asset management company shelved its Initial Public Offer(IPO) plans at the time of the
Asset management companies (AMCs) together have roped in global consultant KPMG to help them meet the complex requirements under the Foreign Account Tax Compliance Act (Fatca), a new anti-tax avoidance law in the US.
Distributors crying foul over the lack of enough financial incentives for selling mutual funds could get some relief in the days ahead, with the Securities and Exchange Board of India (Sebi) considering a revision in the commission structure, say two