How the personal finance sector fared in 2014

The year 2014 proved to be tumultuous for equities towards the end. Other investments proved to be a mixed bag with gold falling lesser compared to the previous year. Here's a look at what made news in personal finance in 2014.

The benchmark Sensex rose 29.5 per cent from January 1, 2014 till 19 December 2014. The index fell 30 points or 0.14 per cent on global cues to 21,140.48. By 19 December, the 30-share index rose to 27,371 points, 0.90 per cent higher than the previous trading session.

The equity MFs assets under management (AUMs) rose from about Rs 1,77,000 crore in January 2014 to Rs 2,80,397 crore in Septmber 2014. In July 2013, they stood at Rs 1,62,609 crore, rising around 72.44 per cent by September 2014.

Gold prices, which crashed by 28 percent in 2013 have seen moderate downswing this year. On January 1 2014, gold price stood at Rs 28,780 per 10 gram. On December 21, 2014, the price stood at 27,250 per 10 gm, defining a 5.1 per cent fall till date.

In terms of returns on equity, MFs such as HDFC Top 200 fund (G), Birla SL Long term Advantage,  SBI Blue Chip Fund (G), UTI Equity Fund (G), Birla SL Frontline Equity (G) and ICICI Prudential top 200 Fund (G) were the top performers in the large cap segment with 1 year returns of 62.4 per cent, 61.8 per cent, 55.6 per cent, 54.6 per cent, 51.2 per cent and 51.1 per cent, respectively.

Over five crore provident fund subscribers governed by the EPFO will get 8.75 per cent interest on their deposits for the current fiscal. The finance ministry has ratified the rate for 2014-15, after a decision was taken to retain the interest payout at this level by the Central Board of Trustees of the Employees Provident Fund Organisation.

The Narendra Modi government in its Budget raised the deposit money under Public Provident Fund (PPF) to Rs 1.5 lakh from Rs 1 lakh earlier. This implies Rs 50,000 more can brought into the tax-free income  of the assessee. PPF is a 15-year investment scheme under which an investor enjoys tax exemption at the time of deposit, accrual of interest and withdrawal.