In comparison, the figure was Rs 90,014 crore at the end of May 2016. Banking continues to be the most preferred sector with the fund managers as they cannot afford to take a bearish call on banking stocks, given the high weightage attached to the index.
Earlier, Jinesh Gopani managed the scheme along with Shah and Naik.
Earlier, scheme's investment plan levied 0.25 percent exit load if investments were redeemed or switched out within one month from the date of allotment
No load will be levied if investments are redeemed/switched after one year from the date of allotment.
The performance of Edelweiss Arbitrage Fund will be benchmarked against Nifty 50 Arbitrage Index as against CRISIL Liquid Fund
Paytm has applied for a licence to set up a money market mutual fund that invests in short-term funds.
Investors, who’re largely unaware of the hidden commission cost, presume mutual funds to be free
Mutual funds are a way for savers to put their money to work in asset classes of their choice
Jain will report to Deputy Chief Executive Officer and Head of Investments Anand Shah
The new fund offer of close-ended scheme launched on June 15, was earlier scheduled to end on June 20
Earlier, the initial offer of the open-ended exchange traded fund was to close on June 21
There is a structural issue in the IT space and the pain may take the time to go away.
Mutual funds attributed the increased interest in SIPs to investor education and robust performance of equity schemes
Anup Maheshwari of DSP BlackRock feels valuations are stretched, but earnings growth will help the market. He likes PSU banks as well as books will be in better shape in 12-18 months.
Redemption pressure gripped mutual funds which led to fall in total category wise asset under management (AUM) by 1.2 percent on a sequential basis to Rs 19.03 lakh crore in May 2017, IDBI Capital said in a report.
Aptech rose 200 percent, followed by Mastek which rallied 93 percent, Datamatics up 89 percent, and TVS Electronics rose 87 percent in last one year.
The fund house plans to wind up HDFC FMP 370D April 2014 (1), HDFC FMP 366D April 2014 (1) and HDFC FMP 377D March 2014 (1)
The total category wise asset under management (AUM) of the mutual fund (MF) industry slipped by 1.2 percent or Rs 22,327 crore to Rs 19.03 lakh crore for the month of May 2017, but equity funds saw an increase of 2.7 percent in the same period.
Under the close-ended equity scheme,each series will have tenure of 1 year to 5 years
The open-ended income scheme will invest at least 65 percent in corporate debt/bonds and up to 35 percent in debt and money market instruments
Contribution of small towns -- known as beyond the top 15 cities (B15) -- to mutual funds' asset base in India surged 47 percent on year
In the two years, investor accounts went up following robust contribution from smaller towns.
Top three gainers in the private banking space include names like ICICI Bank, Kotak Mahindra Bank, and HDFC Bank which saw huge buying interest by fund managers in the month of May.
The scheme will have a lock-in period of 1100-days
It will also introduce quarterly dividend option under both regular and direct plans with effect from July 3