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AMFI seeks more tax breaks for mutual fund sector

The industry body has sought more tax incentives on ELSS, pension products and infrastructure debt mutual funds.

Industry experts said that fund managers have been raising their allocation in software stocks due to declining rupee against the US dollar.
Industry experts said heightened investor interest has led to a sharp increase in retail folios.
In comparison, equity fund managers' deployment in banking stocks stood at Rs 62,719 crore in October 2014.
In comparison, Foreign Portfolio Investors (FPIs) made a net investment of just Rs 16,674 crore during the period.
Industry insiders said mutual funds saw an outflow in MF schemes last month mainly on account of huge redemptions in liquid and money market funds.
The fact that they were net buyers when foreign portfolio investors sold shares marks a major shift in the way equities are being viewed in India.
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