Infrastructure stocks have got a push from an unexpected quarter — the country’s equity fund managers. Infra-based theme funds, which had lost favour among investors and product manufacturers, have once again started getting attention.
The assets managed by mutual funds rose by 3% to cross Rs 9 trillion mark in the January- March quarter of FY 2013-14 on account of inflows into fixed maturity plans, money market and equity funds, says a report.
With a strong growth of about 22% in its asset base, ICICI Prudential Mutual Fund has joined the Rs 1 lakh crore club while HDFC MF has retained its top slot with a slender margin of about Rs 6,000 crore.
Mutual fund (MF) houses are now required to make monthly disclosures about assets managed by them and to explain the rationale behind exercising their voting rights in firms, as part of stronger Securities and Exchange Board of India (Sebi) norms
Some mutual funds have come under scanner of the capital markets watchdog Sebi and industry's front-line regulator AMFI for allegedly window-dressing their fiscal-end assets base through illicit trades.
More investors are bypassing distributors while putting money into mutual fund schemes these days compared to early 2013. Almost a third of the mutual fund industry's total assets under management (AUM) to the tune of close to Rs 900,000 crore as on