The month of August saw the lowest level of inflow since October 2021, when equity mutual funds attracted Rs 5,215 crore.
The fund will be jointly managed by Harshad Borawake, fund manager and head of research, on the equities side and Mahendra Jajoo, CIO fixed income, on the debt side. The benchmark index for the fund will be the Nifty50 Hybrid Composite Debt 50:50 Index.
At least seven mutual fund schemes managed by ICICI Prudential Mutual Fund have managed to top the chart in their respective categories during the past 12 months. Sankaran Naren, ED and CIO, ICICI Prudential AMC , explains how.
Edelweiss Financial Services said that the company strongly and emphatically denies the report and wishes to reiterate that the news is factually untrue and purely speculative and motivated by vested interests.
The Securities and Exchange Board of India has set an overall industry level limit of USD 7 billion for mutual funds to invest in overseas securities and funds and a separate limit of USD 1 billion for investment in overseas ETFs.
Last year, Sebi gave a similar choice for investors who were opening new trading and demat account.
Equity schemes have been witnessing net inflow since March 2021, highlighting the positive sentiment among investors.
Among those who have been removed as fund managers are Chief Trader & Fund Manager Viresh Joshi and Assistant Fund Manager Deepak Agrawal. While Joshi has been with Axis MF since 2009, Agarwal joined the fund house in 2015 as an equity research analyst.
This was a significant rise from 2020-21 when 81 lakh accounts (or folios in mutual fund parlance) were opened, data with the Association of Mutual Funds in India (Amfi) showed.
Mutual Fund industry body listed out first-tier benchmarks for 67 types of mutual fund schemes.
In a circular, Sebi said the rebalancing period will be applicable in the event of deviation from mandated asset allocation mentioned in the Scheme Information Document due to passive breaches.
The NFO (new fund offer) will open for subscription on March 10, and close on March 21.
As per AMFI monthly data, inflows in equity oriented mutual fund declined by 40% to Rs 14,887 crore in January.
Fund houses have been told not to make any incremental investment in overseas funds from February 1 as $7 billion overseas investment limit close to being breached.
The Nifty recorded impressive gains of 24% YoY despite adverse COVID-related challenges in CY21, the brokerage firm added.
At least half a dozen mutual fund houses are in the race to launch exchange traded funds and fund of funds based on silver; SEBI gave its go-ahead to silver ETFs in September 2021.
The commerce minister, who also holds the consumer affairs portfolio, added that he is willing to change the regulations if needed to ensure that the over Rs 37 lakh crore MF industry falls in line.
According to the fund house, portfolios having a slight tilt towards domestic cyclicals should do well in 2022 and investors can expect moderate returns along with stock specific rally in the short term.
It has been further proposed that investment of up to Rs 1.5 lakh under DLSS be eligible for tax benefit, subject to a lock in period of five years (just like tax saving bank FDs).
As per the rules, trustees and Asset Management Companies (AMCs) will have to ensure that the assets and liabilities of each scheme are segregated and ring-fenced from other schemes of a mutual fund.
For mutual funds and portfolio managers, Sebi said they are advised to disclose the investor charter on their websites, as per separate circulars.
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