The assets under management of mutual funds in the country have increased to Rs eight lakh crore at the end of November, mainly propelled by bulk inflow into debt schemes.The industry's average AUM (Asset Under Management) grew by Rs 45,071 crore, or 5.91 per cent, in November.
The combined average AUM of the 37 fund houses hit a historic high of Rs 8,07,546.39 crore at the end of November, the data by Association of Mutual Funds in India (AMFI) showed.
Showing posts with label Mutual Funds. Show all posts
Showing posts with label Mutual Funds. Show all posts
Wednesday, December 2, 2009
Thursday, November 12, 2009
Religare PSU Equity Fund NFO collects over Rs. 229 crores
Religare Enterprises Ltd has informed BSE regarding a Press Release dated November 12, 2009 titled "Religare PSU Equity Fund NFO collects over Rs. 229 crores"
Wednesday, November 11, 2009
Online mutual fund transactions by march 2010
The Association of Mutual Funds in India is contemplating creation of two platforms for online mutual fund transactions in the country by March next year, its Chairman A P Kurian said.
The move has come after a committee, comprising mutual fund houses and AMFI members, recommended the creation of two separate platforms to trade MF products, Kurian said.
"The committee has recommended the creation of two online platforms for mutual fund transactions...The whole idea of the two platforms is to have maximum reach and attract maximum investors...(however) we have not finalised anything yet," Kurian said.
The association is yet to work out the modalities of the new initiatives including the cost factor, Kurian said.
"There are misconceptions like the trading through these platforms will be free and this is to avoid brokers.
The move has come after a committee, comprising mutual fund houses and AMFI members, recommended the creation of two separate platforms to trade MF products, Kurian said.
"The committee has recommended the creation of two online platforms for mutual fund transactions...The whole idea of the two platforms is to have maximum reach and attract maximum investors...(however) we have not finalised anything yet," Kurian said.
The association is yet to work out the modalities of the new initiatives including the cost factor, Kurian said.
"There are misconceptions like the trading through these platforms will be free and this is to avoid brokers.
Thursday, November 5, 2009
Benchmark Mutual Fund - Record Date for Dividend
Benchmark Mutual Fund - PSU BANK BENCHMARK EXCHANGE TRADED SCHEME (PSU Bank BeES) has informed BSE that the Board of Directors of Benchmark Trustee Company Pvt. Ltd. (Trustee to Benchmark Mutual Fund) has approved a Dividend of Rs. 6.00 (Rupees Six only) per unit in PSU Bank Benchmark Exchange Traded Scheme (PSU Bank BeES) with a record date of November 10, 2009.
Wednesday, November 4, 2009
List of Mutual Fund companies in India
01...AIG Global Investment Group Mutual Fund
02...Axis Mutual Fund
03...Baroda Pioneer Mutual Fund
04...Benchmark Mutual Fund
05...Bharti AXA Mutual Fund
06...Birla Sun Life Mutual Fund
07...Canara Robeco Mutual Fund
08...DBS Chola Mutual Fund
09...Deutsche Mutual Fund
10...DSP BlackRock Mutual Fund
11...Edelweiss Mutual Fund
12...Escorts Mutual Fund
13...Fidelity Mutual Fund
14...Fortis Mutual Fund
15...Franklin Templeton Mutual Fund
16...Goldman Sachs Mutual Fund
17...HDFC Mutual Fund
18...HSBC Mutual Fund
19...ICICI Prudential Mutual Fund
20...IDFC Mutual Fund
21...ING Mutual Fund
22...JM Financial Mutual Fund
23...JPMorgan Mutual Fund
24...Kotak Mahindra Mutual Fund
25...LIC Mutual Fund
26...Mirae Asset Mutual Fund
27...Morgan Stanley Mutual Fund
28...PRINCIPAL Mutual Fund
29...Quantum Mutual Fund
30...Reliance Mutual Fund
31...Religare AEGON Mutual Fund
32...Religare Mutual Fund
33...Sahara Mutual Fund
34...SBI Mutual Fund
35...Shinsei Mutual Fund
36...Sundaram BNP Paribas Mutual Fund
37...Tata Mutual Fund
38...Taurus Mutual Fund
39...UTI Mutual Fund
02...Axis Mutual Fund
03...Baroda Pioneer Mutual Fund
04...Benchmark Mutual Fund
05...Bharti AXA Mutual Fund
06...Birla Sun Life Mutual Fund
07...Canara Robeco Mutual Fund
08...DBS Chola Mutual Fund
09...Deutsche Mutual Fund
10...DSP BlackRock Mutual Fund
11...Edelweiss Mutual Fund
12...Escorts Mutual Fund
13...Fidelity Mutual Fund
14...Fortis Mutual Fund
15...Franklin Templeton Mutual Fund
16...Goldman Sachs Mutual Fund
17...HDFC Mutual Fund
18...HSBC Mutual Fund
19...ICICI Prudential Mutual Fund
20...IDFC Mutual Fund
21...ING Mutual Fund
22...JM Financial Mutual Fund
23...JPMorgan Mutual Fund
24...Kotak Mahindra Mutual Fund
25...LIC Mutual Fund
26...Mirae Asset Mutual Fund
27...Morgan Stanley Mutual Fund
28...PRINCIPAL Mutual Fund
29...Quantum Mutual Fund
30...Reliance Mutual Fund
31...Religare AEGON Mutual Fund
32...Religare Mutual Fund
33...Sahara Mutual Fund
34...SBI Mutual Fund
35...Shinsei Mutual Fund
36...Sundaram BNP Paribas Mutual Fund
37...Tata Mutual Fund
38...Taurus Mutual Fund
39...UTI Mutual Fund
Mutual Funds assets hits all time high
Assets of the mutual fund industry have touched an all time high of Rs 7.62 lakh crore, while country's largest fund house Reliance MF witnessed a decline of over Rs 1,400 crore in its average assets under management (AUM) at the end of October.
The industry's average AUM grew by Rs 19,391 crore, or 2.61 per cent, in October which analysts believe was mainly on the back of increased inflows in fixed income plans.
The combined average AUM of the 39 fund houses hit the historic Rs 7,62,301.82 crore mark at the end of October, the data by Association of Mutual Funds in India (AMFI) showed.
The industry's average AUM grew by Rs 19,391 crore, or 2.61 per cent, in October which analysts believe was mainly on the back of increased inflows in fixed income plans.
The combined average AUM of the 39 fund houses hit the historic Rs 7,62,301.82 crore mark at the end of October, the data by Association of Mutual Funds in India (AMFI) showed.
Friday, October 23, 2009
Japan's financial regulator to block BNP Paribas
Japan's financial regulator will order a brokerage unit of French bank BNP Paribas on Friday to suspend its stock derivative operations for two weeks, the Nikkei business daily said.
The Financial Services Agency (FSA) found BNP Paribas Securities (Japan) at fault for a lack of internal controls that could have stopped attempted manipulation of the share price of mobile phone company Softbank Corp, the paper said.
The Securities and Exchange Surveillance Commission (SESC) had recommended to the FSA last week that BNP Paribas Securities (Japan) Ltd be punished.
The suspension will also take into account a controversial convertible bond deal involving property developer Urban Corp, which failed soon after the transaction, the paper said.
Yusuke Yasuda, who heads the brokerage, is expected to resign, it said.
BNP Paribas declined to comment prior to an announcement by the FSA
The Financial Services Agency (FSA) found BNP Paribas Securities (Japan) at fault for a lack of internal controls that could have stopped attempted manipulation of the share price of mobile phone company Softbank Corp, the paper said.
The Securities and Exchange Surveillance Commission (SESC) had recommended to the FSA last week that BNP Paribas Securities (Japan) Ltd be punished.
The suspension will also take into account a controversial convertible bond deal involving property developer Urban Corp, which failed soon after the transaction, the paper said.
Yusuke Yasuda, who heads the brokerage, is expected to resign, it said.
BNP Paribas declined to comment prior to an announcement by the FSA
Wednesday, October 21, 2009
MF's Equity funds add Rs 10k cr in Sep
Though the average assets under management (AUM) of mutual funds (MFs) fell in September due to the pullout from fixed income schemes, equity-focused funds have come up with a decent show, adding Rs 10,000 crore in the month.
Diversified equity funds have seen their asset base increase by Rs 68,719 crore or 72.3% in the last six months with the total AUMs topping Rs 1,63,681 crore in September. AUMs of tax planning funds have shot up 75.4% during the period followed by speciality funds (70.5% jump) and index funds (39.3% growth).
Equity AUMs of large fund houses have doubled since March in line with the markets, which have rallied sharply, gaining more than 100% in the last six months. While diversified equity funds reported a 5% growth in assets in September, index funds made a 13% gain and tax planning funds posted a modest 7% increase. The AUMs of diversified equity funds alone moved up by Rs 8,000 crore on the back of the 9.3% gain made by markets in September.
Equity, speciality, index and tax planning MFs have added Rs 10,020 crore to their asset base in the month, data with MF tracker NAV India shows. The pullout from fixed income schemes by corporates and banks to meet advance tax obligations has brought down the AUM of bond and liquid schemes by over Rs 1.12 lakh crore in the month, data shows. ICICI Prudential’s equity holdings grew 11.1% in September followed by the country’s top fund house Reliance that reported a 9.4% increase in its equity asset base.
With markets slowly retracing earlier peaks, equity funds have started to churn their portfolios aggressively. They made fresh purchases in the private sector banking and pharmaceuticals space and made exits from telecom, shipping and finance stocks, data shows. Mid-cap funds also churned their portfolios to some extent as the markets sustained the momentum by moving up to fresh 52-week highs.
Diversified equity funds have seen their asset base increase by Rs 68,719 crore or 72.3% in the last six months with the total AUMs topping Rs 1,63,681 crore in September. AUMs of tax planning funds have shot up 75.4% during the period followed by speciality funds (70.5% jump) and index funds (39.3% growth).
Equity AUMs of large fund houses have doubled since March in line with the markets, which have rallied sharply, gaining more than 100% in the last six months. While diversified equity funds reported a 5% growth in assets in September, index funds made a 13% gain and tax planning funds posted a modest 7% increase. The AUMs of diversified equity funds alone moved up by Rs 8,000 crore on the back of the 9.3% gain made by markets in September.
Equity, speciality, index and tax planning MFs have added Rs 10,020 crore to their asset base in the month, data with MF tracker NAV India shows. The pullout from fixed income schemes by corporates and banks to meet advance tax obligations has brought down the AUM of bond and liquid schemes by over Rs 1.12 lakh crore in the month, data shows. ICICI Prudential’s equity holdings grew 11.1% in September followed by the country’s top fund house Reliance that reported a 9.4% increase in its equity asset base.
With markets slowly retracing earlier peaks, equity funds have started to churn their portfolios aggressively. They made fresh purchases in the private sector banking and pharmaceuticals space and made exits from telecom, shipping and finance stocks, data shows. Mid-cap funds also churned their portfolios to some extent as the markets sustained the momentum by moving up to fresh 52-week highs.
Tuesday, October 20, 2009
investors pulled out over Rs 1.44 lakh crore:MFs
After witnessing heavy inflows in July and August, mutual funds lost favour last month as investors pulled out over Rs 1.44 lakh crore, the highest monthly outflow so far this fiscal.
The combined net outflow from the 36 fund houses stood at Rs 1,44,327 crore in September, as per the Association of Mutual Funds in India (AMFI) data.Total fund inflows in July and August stood at Rs 1,56,352 crore
The combined net outflow from the 36 fund houses stood at Rs 1,44,327 crore in September, as per the Association of Mutual Funds in India (AMFI) data.Total fund inflows in July and August stood at Rs 1,56,352 crore
Monday, October 5, 2009
Merrill says retains nearly all India clients
The Indian wealth management arm of Merrill Lynch has retained nearly all its clients through the recent market turmoil and uncertainty created by a merger with Bank of America Corp, a top executive said on Monday.
Pradeep Dokania, head of global wealth management at the firm, said 99 percent of his wealthy clients were still banking with him, and Merrill expects to grow new assets in India by 20-25 percent over the next 12 months as a rebound in the domestic share market starts minting millionaires again.
"We have not lost clients," Dokania told the Reuters Global Wealth Management Summit in India at his office in the south of Mumbai.
"Our objective earlier was to give comfort when the market was having such uncertainty, and there was uncertainly within the firm because we got acquired by Bank of America," he said.
Now, with Indian shares more than doubling from their lows in early March, clients have started to cut cash and are adding risk to their portfolios from asset classes such as equities and real estate.
"We are expecting growth of 20-25 percent in terms of new client assets," Dokania said, adding Merrill was looking to add at least 10 relationship managers to a team of 50 to help achieve the growth and tap new clients.
Pradeep Dokania, head of global wealth management at the firm, said 99 percent of his wealthy clients were still banking with him, and Merrill expects to grow new assets in India by 20-25 percent over the next 12 months as a rebound in the domestic share market starts minting millionaires again.
"We have not lost clients," Dokania told the Reuters Global Wealth Management Summit in India at his office in the south of Mumbai.
"Our objective earlier was to give comfort when the market was having such uncertainty, and there was uncertainly within the firm because we got acquired by Bank of America," he said.
Now, with Indian shares more than doubling from their lows in early March, clients have started to cut cash and are adding risk to their portfolios from asset classes such as equities and real estate.
"We are expecting growth of 20-25 percent in terms of new client assets," Dokania said, adding Merrill was looking to add at least 10 relationship managers to a team of 50 to help achieve the growth and tap new clients.
Tuesday, September 22, 2009
Principal MF appoints Shobit Gupta as Head Fixed Income
Principal Mutual Fund today announced the appointment of Shobit Gupta as head of fixed income division.
Prior to this, Shobit has worked with Kotak Mutual Fund, ABN Amro Bank, Reliance Mutual Fund and ING Mutual Fund, a press release said.
Principal Mutual Fund is sponsored by Principal Financial Group (Mauritius) with Punjab National Bank and Vijaya Bank.
It has assets under management at around Rs 9,450 crore as on August 31, 2009 and over 10.2 lakh investors.
Source:ptinews
Prior to this, Shobit has worked with Kotak Mutual Fund, ABN Amro Bank, Reliance Mutual Fund and ING Mutual Fund, a press release said.
Principal Mutual Fund is sponsored by Principal Financial Group (Mauritius) with Punjab National Bank and Vijaya Bank.
It has assets under management at around Rs 9,450 crore as on August 31, 2009 and over 10.2 lakh investors.
Source:ptinews
Sunday, August 9, 2009
Closed end & Open ended Funds
Closed-end funds trade as stocks on all the major exchanges.They come in all sizes and varieties:Closed-end bond funds,general equity funds,growth funds,value funds etc.
The main difference between a Closed-end fund and an Open-ended fund is that a Closed-end fund is static.The number of shares stays the same.A shareholder in a Closed-end fund exits the fund by selling his or her shares to somebody else,the same as if he or she were selling a stock.An Open-ended fund is dynamic.When an investor buys in,new shares are created.When the investors sells out,his or her shares are retired and the fund shrinks by that amount.
One feature of the Closed-end fund is that since they trade like stocks they also fluctuate like stocks,a Closed-end fund sells at either a premium or a discount to the market value of its portfolio.Bargain hunters have excellent opportunities in market sell-offs to buy a Closed-end fund at a substantial discount to its NAV(Net Asset Value).
The main difference between a Closed-end fund and an Open-ended fund is that a Closed-end fund is static.The number of shares stays the same.A shareholder in a Closed-end fund exits the fund by selling his or her shares to somebody else,the same as if he or she were selling a stock.An Open-ended fund is dynamic.When an investor buys in,new shares are created.When the investors sells out,his or her shares are retired and the fund shrinks by that amount.
One feature of the Closed-end fund is that since they trade like stocks they also fluctuate like stocks,a Closed-end fund sells at either a premium or a discount to the market value of its portfolio.Bargain hunters have excellent opportunities in market sell-offs to buy a Closed-end fund at a substantial discount to its NAV(Net Asset Value).
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