BUSINESS
Liquid fund outflows wipe out Rs 2.3 lakh crore from MF industry in Sept
According to Association of Mutual Funds in India (Amfi) data, the asset under management (AUM) of the industry, comprising 41 active players, stood at Rs 22.06 lakh crore at the end of September, as compared to a record Rs 25.20 lakh crore in August-end.
BUSINESS
AMFI's MF Utility in process to tie up with more fund houses: CEO V Ramesh
Ramesh said MF Utility has tied up with 30 fund houses which handle almost 97 percent of the industry’s AUM.
BUSINESS
This week in MFs: Top 20 fund houses manage 95% of industry AUM in September quarter
SEBI emphasised on the need of having more competition to ensure uniform growth among industry players
BUSINESS
IT fund investors cheer 47% average returns in last one year amid equity market meltdown
Valuations of most IT stocks are already well over 20 times their forward earnings, surpassing historical averages by a wide margin
BUSINESS
MFs July-Sept average AUM up 14% on quarter; ICICI Pru MF remains on top
Mutual fund managers attributed the rise in quarterly AUM to strong participation from retail investors.
BUSINESS
Rupee woes: Fund managers expect rupee to touch 75/dollar soon
Debt fund managers also expressed concern that rising global crude oil prices may expand the already large current account deficit and spur inflation worries, due to persistent weakness in the rupee against the US dollar.
BUSINESS
Fund managers ready to go shopping after sharp correction in stocks
Mutual funds that were holding around 8-10 percent cash level in their equity portfolio are likely to purchase shares of companies in banking and financial services, information technology, pharmaceuticals
BUSINESS
IL&FS crisis rattles MFs; cash plans worst hit with Rs 70,000 cr outflows in Sept
Ultra liquid schemes category posted Rs 19,479 crore worth of net outflows last month
BUSINESS
IL&FS crisis singes NAVs of equity MFs in Sep; most categories give negative returns
The worst hit were funds investing in banking stocks.
BUSINESS
Rasna to introduce new flavours, focus on promoting honey, says Chairman Piruz Khambatta
Last year, the company also ventured into honey under the brand called Rasna Native Haat
BUSINESS
Entertainment now takes precedence in malls over shopping, says Infiniti Mall CEO
The company is in talks for finalising land parcels in metro cities-- Delhi, Gurgaon (Gurugram) and NCR (National Capital Region)
BUSINESS
This is week MFs: IL&FS rating downgrade makes industry nervous
On September 8, rating agency ICRA downgraded debt papers of IL&FS by several notches, across maturities. Other rating agencies such as CARE have also downgraded papers of IL&FS and its group companies
BUSINESS
25 mutual funds with Rs 2,700 crore of IL&FS bonds take a hit
Of the 25 schemes, 14 had two percent or more of their assets invested in IL&FS group companies' bonds and commercial papers
BUSINESS
Regulatory, cyber security & tech distruption biggest risks for India Inc: Deloitte report
According to Deloitte ‘India Risk Survey 2018’ 44 percent of businesses harness risks to find future opportunities and drive returns while 36 percent use risk management with an aim to drive compliance and prevent losses.
BUSINESS
Retailers acknowledge new paradigm shift in consumer behavior at India Retail Forum 2018
At the two-day conclave of India Retail Forum 2018 held on Sep 5 & 6, experts across the spectrum deliberated on the affluence index and retail potential in the country
BUSINESS
Will expand to 41 cities now, focus on use of AI: Shoppers Stop CEO Rajiv Suri
The company will also focus more on artificial intelligence to understand consumer behavior.
BUSINESS
Future Retail to open 20 Big Bazaar stores in FY19, increase reach of small-format stores
The company's overall business is expected to grow at 20 percent in FY19
BUSINESS
Avendus Capital open to acquisition in asset management space: Alok Vajpeyi, Chairman
Sources told Moneycontrol that Avendus is in the final stage of discussions to acquire IDFC Asset Management Company.
BUSINESS
This week in MFs: Asset managers remain upbeat on consumption theme
Fund managers said that India is expected to be the third-largest consumer market in the world.
BUSINESS
SEBI chief Ajay Tyagi says need to rationalise expense ratio of funds
AUM in MFs is at Rs 24 lakh crore, but the current TER structure was commissioned when it was at Rs 50,000 crore. Hence, the industry needs to keep pace with these developments, Tyagi said.
BUSINESS
SEBI chief says worried about top MF players cornering higher AUM share
Ajay Tyagi commended the industry for achieving stellar growth, but said the Indian mutual fund AUM to GDP ratio was lower at 11 percent of GDP as compared to global standards.
BUSINESS
SEBI's MF advisory committee forms 6-member sub-committee to review existing total expense ratio
The decision was made at a recent Mutual Fund Advisory Committee meeting.
BUSINESS
This week in MFs: UTI Mutual Fund remained at the centre of all
Leo Puri resigned as MD and CEO of UTI Mutual Fund as his five-year contract ended on August 13
BUSINESS
BNP Paribas Mutual Fund to launch consumption-theme based scheme on August 17
The scheme will largely invest in sectors such as auto, banks, cement, consumer durables/non durables, fertilizers, finance, healthcare services, hotels, media & entertainment, among other companies in the underlined space.
