The scheme will deploy at least 65 percent of its corpus in equity and equity related securities of small cap companies.
Fund flows in December may have slowed but 2017 flows overall have been at record levels that is flows coming from retail investors to mutual funds. In an interview to CNBC-TV18, Sailesh Raj Bhan, Deputy CIO-Equity Investment at Reliance Mutual Fund shared his views and readings on this extraordinary trend of 2017 and will the same continue in 2018.
In 2017, the total asset base of all 42 active fund houses put together surged by an impressive 32 per cent, while it had risen by 24 per cent over the last five years.
Speaking on valuation issues, Tushar Pradhan highlighted that they did move higher last year and PE expansion also contributed to returns from the market.
Watch the interview of Sunil Subramaniam, CEO at Sundaram Mutual Fund with Prashant Nair and Ekta Batra on CNBC-TV18, in which he shared his readings and outlook on market and specific stocks.
As on Sep-end quarter, the average assets under management of Principal Mutual Fund stood at Rs 5,825 crore.
The scheme will be wound up as it was not able to meet the minimum number of investors criteria set by Securities Exchange Board of India
Earlier, an exit load of 1 percent was charged if investments were redeemed within three months from the allotment date
In an interview to CNBC-TV18, Gautam Sinha Roy of Motilal Oswal MF shared his views and readings on the market and specific sectors.
Mid-cap funds category and large cap equity funds gave 44 percent and 31 percent respectively in 2017.
Equity savings funds invest more than 65 percent of their corpus in equity and are thereby treated at par with equity funds for taxation
The outlook for the market seems bright, with portfolio managers remaining quite optimistic about their prospects in 2018.
Watch the interview of Swati Kulkarni, Executive Vice President and Fund Manager at UTI MF with Sonia Shenoy and Ekta Batra on CNBC-TV18, in which she shared her readings and outlook on the fundamentals of the market, and specific stocks and sectors.
NSE Fin Wiz visits Syntel, Navi Mumbai where Pankaj Mathpal, MD& CEO at Optima Money Managers, and Gaurav Mashruwala, and Independent Certified Financial Planner spoke about mutual funds versus other investment options.
The new measure may have an impact on the shareholding pattern of UTI Asset Management Company (AMC).
Manish Sonthalia expects the taxation to return to equity given the lower GST collections along with economic scenario.
The changes of fund managers will be with effect from Jan 1
Jain will cease to manage 3 funds including income and gilt funds.
The industry added over 9 lakh SIP accounts each month on an average in 2017 with SIP size increasing from Rs 3,973 crore last year to Rs 5,893 crore in 2017.
In the last 11 months, 50 percent of the inflows received in the mutual fund industry were parked in balanced funds.
Market experts said that consumption sector is expected to continue its robust performance in 2018 as well.
The government's demonetisation move may have been a massive disrupter for the Indian economy at large, but not quite so for the mutual fund industry. CNBC-TV18's Yash Jain and Areeb Sherwani report that resulting sustained rush of liquidity into the system throughout 2017 translated into unprecedented inflows into the mutual fund space.
Watch the interview of Gautam Sinha Roy of Motilal Oswal Mutual Fund with CNBC-TV18's Ekta Batra and Surabhi Upadhyay where he shared his readings and outlook on the fundamentals of the market and specific stocks and sectors.
The dividend option under the scheme will be renamed as monthly dividend option, while half yearly dividend option will be replaced by weekly dividend option.
E-mandate facility would help members or MF distributors to reduce the SIP registration cycle to just two to three days