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
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
Mutual funds attributed the increased interest in SIPs to investor education and robust performance of equity schemes
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.
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)
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.
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
The scheme was launched in March 2014 and the maturity date was twice extended with the consent of unit holders
The scheme will charge 0.50 percent exit load on investments redeemed up to 90 days
Earlier, the close-ended scheme with three-year lock-in was to mature on July 7, 2017
The fund house will now charge exit load for switches and systematic transfer plan made to DSP BlackRock Balanced Fund and all open ended equity schemes of DSP BlackRock Mutual Fund
Under the scheme, the fund house proposes to offer three plans of tenure ranging between 24 and 66 months.
A large number of these schemes are aimed at investment in equity and equity-related securities and are open-ended
Morningstar Investment Adviser Director of Fund Research Kaustubh Belapurkar attributed the outflow to withdrawal from liquid funds, which are susceptible to sharp inflows and outflows as corporates park short term money in these funds.
Equity mutual funds added over 6.5 lakh folios in the last month taking the total number of folios to an all-time-high of 3.35 crore in May