The close-ended equity scheme will deploy 65-90 percent of its assets in equity securities and derivatives
Series A – Series E will have tenure of 18 months to 60 months from the date of allotment
Redemptions from top 20 fund houses have risen to the second highest level in FY18, despite the industry's AUM touching record highs
In his new role, Menon will head the company’s sales, distribution and marketing functions
Each Series under the Scheme will have tenure of 3 years to 10 years from the date of allotment of units under the respective series
Gunwani was the sole fund manager of ICICI Pru Focussed Bluechip Fund and also managed equity portion of the ICICI Pru Balanced Advantage Fund
MF industry recorded an addition of 10 lakh investor accounts in June, taking its total number of folios to an all-time high of 57.82 million, as per data on the SEBI.
In comparison, mutual funds saw an outflow of close to Rs 41,000 crore in May. Prior to that, Rs 1.51 lakh crore were invested in April.
Mutual funds' assets under management (AUM) from B15 locations grew from Rs 2.32 lakh crore in May 2016 to Rs 3.41 lakh crore at the end of May 2017, according to latest data available with the Association of Mutual Funds in India (AMFI).
On June 8, Reliance Nippon Life Asset Management (RNAM) got approval from its board of directors for an initial public offer of AMC subject to necessary regulatory and corporate approvals.
The average AUM of the mutual fund industry rose 7 percent taking the total AUM to a record high of Rs 19.52 lakh crore at the end of June quarter, according to the data on the Association of Mutual Funds in India.
The scheme will levy 1 percent exit load if redeemed within one year from the date of allotment
The mutual fund industry believes the advisory model will be the future and will curb mis-selling
The AUM of the mutual fund industry is expected to touch Rs 95 lakh crore by 2025, said Association of Mutual Funds of India Chairman A. Balasubramanian.
The Securities and Exchange Board of India (SEBI) Chairman Ajay Tyagi advised mutual fund industry that they should not completely depend on credit rating agencies for investments in debt instruments.
He further said only one in 25 Indians invests in mutual fund products at present, but the investor base can be expanded 10-fold to 60 crore in five years.
SEBI has proposed that such companies will now have to register with the market regulator as a research analyst to continue their operations legitimately
The minimum redemption provision will be Rs 500 or 50 units or account balance whichever is lower
Industry experts attributed investments in the equity market to upbeat sentiment in the stock market
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
Jain will report to Deputy Chief Executive Officer and Head of Investments Anand Shah