BUSINESS
Batsman, bowler, coach: Kotak Mahindra AMC’s Nilesh Shah has worn many leadership hats at fund houses and excelled in each role
Over a glittering three-decade long career spanning from Franklin Templeton India MF through ICICI Securities to Kotak Mahindra AMC, the CA gold medallist has always relied on sound processes to hone the stockpicking skills of his teams, ensuring consistency, continuity and success
BUSINESS
Rahul Goswami to join Franklin Templeton India MF as head of fixed income
Rahul Goswami is presently the CIO – Fixed Income at ICICI Prudential MF. Santosh Kamath, who is presently the head of Franklin Templeton India MF's fixed income head is expected to move into the Alternate Investment Funds division. Manish Banthia has taken over as CIO-fixed income at ICICI Prudential MF
BUSINESS
Franklin Templeton repays investors of two debt funds
After the latest payout, Franklin Templeton mutual fund pays off all the debts of- and extinguishes units in- five of six debt funds. This week, unit holders of Franklin India Credit Risk Fund and Franklin India Short Term Income Plan.These will get money back from the fund house. The six debt schemes that were wound-up in April 2020.
BUSINESS
Bajaj Finance to bring down dependence on telemarketing calls: Sanjiv Bajaj
Sanjiv Bajaj said the firm will offer clients the option to avoid telemarketing calls, stresses that every step will be taken to protect data privacy
BUSINESS
Bajaj Finserv MF, India’s newest, to launch today
The fund house aims to be present across asset classes of equity and debt. This goes against many new-age fund houses that come with a differentiated strategy of launching either only equity or debt funds or focusing only on passive funds.
BUSINESS
SEBI nudges AMFI to form ethics committee to catch bad apples in time
While praising India’s mutual fund sector and its trade body for the stellar work in taking assets under management to Rs 40 lakh crore, SEBI chairperson Madhabi Puri Buch also reminded them that it’s time for more self-regulation.
BUSINESS
“Something’s cooking:” SEBI’s Buch signals bitter pill for unregistered investment advisors coming soon
With only about 1,000 registered investment advisors in India, SEBI’s pursuit of unregistered investment advisors appears to be slack. However, the SEBI chairperson indicated a solution is expected soon.
BUSINESS
Six charts that influenced SEBI’s mutual fund total expense ratio proposals
After studying India’s Rs 40 lakh crore mutual funds sector, SEBI has unearthed data on performance, churn, and brokerage paid to justify some radical proposals to reimagine the total charges collected from investors. Moneycontrol takes a closer look at what the numbers revealed.
BUSINESS
Mutual funds brace for impact of Sebi consultation paper on total expenses
“Not all is that bad,” say mutual fund industry officials, who Moneycontrol spoke with, on most of the proposals. The inclusion of brokerage costs, though, is a troubling recommendation for a few officials.
BUSINESS
Finmin's Rs 7-lakh relief to taxing foreign spends on credit cards can't resolve TCS crisis
International credit card spends are under LRS from May 16 and the 20 percent TCS will kick in from July 1, 2023. Until June 30, TCS at the rate of 5 percent will apply.
BUSINESS
SEBI wants mutual funds to catch front running, insider trading frauds
In a consultation paper that SEBI issued on May 20, it has proposed setting up of internal surveillance systems in mutual fund houses to catch fraudulent activities. It wants fund houses to be more pro-active
BUSINESS
Five Sebi proposals may make mutual funds cheaper and more transparent
If you don’t make money from your mutual fund scheme, should your fund manager be making any? That’s the idea behind the performance-linked fee, which promises to be a game changer. The challenge will be in its implementation.
BUSINESS
AMFI asks fund houses to stop training programmes based on SIP targets for distributors
SEBI had said that training programmes should not be misused for providing any reward or non-cash incentives to distributors. However, Moneycontrol learns that recently many fund houses have held such programmes, some in exotic locations, in violation of the regulations.
BUSINESS
MC 30 | Why five schemes go out of Moneycontrol list of top mutual funds?
From poor performance to better buys elsewhere, five mutual fund schemes move out of MC30 to give space to five new ones. But just because your scheme moves out of MC30, doesn’t mean you must always sell it. Fresh inflows can stop, though
BUSINESS
MC30 | New champions - schemes that made a fresh entry into the best MF list in 2023
PGIM India Midcap Opportunities Fund, Edelweiss Mid Cap Fund, SBI Magnum Midcap Fund, Nippon India Small Cap Fund and Sundaram Focused Fund have been added to Moneycontrol's basket of hand-picked mutual fund schemes.
BUSINESS
MC30 review – 90% of schemes outperform peers in 2022
MC30 - Moneycontrol’s curated basket of 30 investment-worthy mutual fund schemes, is back with five new schemes in the 2023 edition
BUSINESS
SEBI allows PE funds as MF sponsor, declutters trustee role, brings cheer to debt funds
SEBI allows PE funds to become sponsors of mutual funds. And sharpens the trustees' role. The decisions were taken at the SEBI board meeting on March 29, where the regulator gave its nod to key overhauls.
BUSINESS
March 31 deadline for MF nomination gives headache to investors
Those with jointly-held mutual fund investments can face hurdles in the online process, making physical form submissions the only way out.
BUSINESS
Investors start warming up to debt funds, equity flows continue to be strong: AMFI
The MF industry collected Rs 13,686.23 crore through SIPs in February 2023. Though marginally lower than the previous month’s inflows, AMFI CEO NS Venkatesh attributes this to a shorter month.
BUSINESS
Axis MF picks B Gopkumar of Axis Securities as CEO after Chandresh Nigam steps down
In addition, the fund house also appointed Ashish Gupta to be its new chief investment officer. The fund house has been plagued by the front-running scandal that came to light last year when it suspended its former chief dealer Viresh Joshi after finding him guilty in an internal investigation
BUSINESS
Got a death claim and don’t know how to use the money? ARIA ties with up Kotak Life to offer help
The Association of SEBI-registered Investment Advisors would offer financial planning counselling to people who receive death insurance claims.
BUSINESS
SEBI tells mutual funds to not promise returns; comply with advertisement code
SEBI has come across pamphlets and brochures circulated by some distributors and mutual funds that give an impression of assured returns using a combination of SIP and SWP
BUSINESS
Where to invest Rs 10 lakh today? Avoid China, the US is a much better market internationally, says Piyush Garg of ICICI Securities
Invest 2/3rd of your money in debt markets and a third in equities at this point, says Piyush Garg, Executive Vice-President & CIO, ICICI Securities, looking at the way the markets are poised.
BUSINESS
Many youngsters have an expensive lifestyle and are in debt. It is a slippery slope: Ritesh Srivastava, CEO of FREED
Credit counselors can come to the rescue of those who are burdened with debt – as long as they have a source of income and the intent to repay.
