BUSINESS
Got Rs 10 lakh to invest? India’s largest MF distributor suggests to go for equities
NJ India Invest’s Neeraj Choksi believes that despite the volatility in equity markets, this is a good time to enter. In an interview with Moneycontrol, he listed out options for people who had Rs 10 lakh to invest to consider.
BUSINESS
Mrin Agarwal managed IT czars', cricketers' money, now she arms young India with financial knowledge
Advising retail and high networth individuals on mutual funds in the late 90s when mutual fund was a bad word prepared Mrin Agarwal for tougher questions on new-age money matters such as cryptocurrencies and buy-now-pay-later by youngsters today.
BUSINESS
These 3 wealth managers want to re-write rules of financial advice. Will they succeed?
Dezerve., a newly set-up wealth management firm doesn’t want to go where robo-advisors went earlier and failed. Despite offering curated portfolios, it wants to build in the human element. Its challenge: how to retain high-ticket customers with just an online presence.
TRENDS
Served rare: Is the underarm a strategy, drama or tennis maverick’s hallmark?
The serve is perhaps the most crucial weapon in men’s tennis. Every once in a while, though, players surprise their opponents with the underarm. That doesn’t guarantee a point, but the crowds love it.
TRENDS
Nadal, Djokovic or Federer? Who is the real GOAT?
The US Open gets under way today (Aug 29, 2022) at New York. With 22 Slams already under his belt, Rafael Nadal will stake claim to be the greatest of all time, if he picks up another title. But there is also Novak Djokovic, who is not far behind, and Roger Federer, who has more titles than the other two.
BUSINESS
Meet the new fintech that helps calculate your crypto tax liability
The new cryptocurrency tax of 30 percent has thrown investors into a tizzy over how to calculate their tax liability. Calculating taxes on past transactions is a bigger problem if you have been trading frequently. And income-tax notices to many investors haven’t made things easy
BUSINESS
See the next Neeraj Chopra, Mithali Raj, Allu Arjun in your kid? Get your finances in order first
A career in sports, arts, music or culture can bring fame and money for your child. But competition is tough, the money doesn’t come fast and swift, and the success rate is low. Make sure you budget for your child’s expenses and know when to draw the line.
BUSINESS
Kotak Mutual Fund, PGIM India move SAT against SEBI order
In separate orders, SEBI had penalised PGIM India MF and Kotak MF for transactions and investment decisions taken post-IL&FS crisis
BUSINESS
Just started working? Here’s how to become financially independent
After you get health insurance and an emergency corpus in place, make sure you invest in equities. Avoid fads of the day. As India gets ready to celebrate its 75th year of Independence, it’s important for her citizens to also be financially free. Save, invest and spend, but do not overspend.
BUSINESS
I-T department questioned two Axis MF executives in frontrunning case
The tax department interrogated Jinesh Gopani, head of equity at Axis AMC, and Pawan Jhangiani, a dealer at Axis AMC, during search operations carried out over the past month, according to people aware of the matter.
BUSINESS
On a buying binge, wealth-tech platform Scripbox picks up Wealth Managers in 10th M&A deal
Succession-planning by smaller distribution and advisory practices are nudging them to come together to ensure continuity for clients. Larger firms are only too happy to welcome them, with an eye on increasing revenues.
BUSINESS
Where to invest Rs 10 lakh today? PGIM Mutual Fund chief says chase financial goals, not returns
Ajit Menon, chief executive officer of PGIM India Mutual Fund, says investing must continue, irrespective of market levels. A tilt towards equities helps to meet financial goals, but one should diversify across asset classes.
BUSINESS
Beyond Prashant Jain: How HDFC AMC has built its succession plan
The fund house has consistently added new fund managers with varying fund management styles to ensure diversity in its fund management team and performance. After its erstwhile managing director Milind Barve’s exit in 2021, Prashant Jain’s exit is another important turn in HDFC Mutual Fund’s life cycle.
BUSINESS
Z Funds: Selling mutual funds to Bharat
Although mutual funds have become popular in recent years, the challenge of penetrating rural India remains, with bank fixed deposits and life insurance policies being the biggest competitors. Z Funds, a start-up mutual fund distribution firm, wants to change the narrative. And it is using YouTube in a big way.
BUSINESS
The problem with SEBI including mutual fund units in insider trading rules
SEBI’s consultation paper proposes to bring mutual fund units under the ambit of insider trading regulations. And it wants to include lawyers, auditors, bankers, credit rating agencies and others associated with the fund house.
TRENDS
Advantage, coach: How mid-match coaching in men’s tennis could ruin the beauty of the game
Off-court coaching benefits only the top-ranked players, who have an entourage. But lower-ranked players, who on some days hit the zone and beat the very best players in the world, will be at a disadvantage. That’s because many of these players cannot afford full-time coaches, so on-court and off-court coaching is out of bounds for them.
TRENDS
Advantage, coach: How mid-match coaching in men’s tennis could ruin the game
Off-court coaching benefits only the top-ranked players, who have an entourage. But lower-ranked players, who on some days hit the zone and beat the very best players, will be at a disadvantage.
BUSINESS
Sebi fines PGIM AMC, its CEO, fund managers for inter-scheme transfers during credit crisis
The cases pertain to an inspection carried out on inter-scheme transfer for the period August 2018 to February 2019. Sebi fined the AMC Rs 25 lakh, CEO Ajit Menon Rs 5 lakh, and three fund managers for Rs 2 lakh each
BUSINESS
Axis MF front running case | Sacked fund manager Viresh Joshi sues MF house alleging wrongful termination
In its reply to Moneycontrol, Axis AMC has rubbished Joshi's allegations and stands by its decision to sack him. Any compensation or damages payable to him is out of question, says the fund house. The investigations are still underway into the alleged case of front-running.
BUSINESS
Advertising watchdog catches violations in crypto ads by influencers
After a big splash of cryptocurrency advertisements by Bollywood stars and celebrities last year, the Advertising Standards Council of India issued guidelines, effective April 1. Nearly 29 violations have been processed so far
BUSINESS
When crypto prices fall, Ayushmann Khurrana, Disha Patani, Ranveer Singh are of little help
In 2021, many celebrities, including Bollywood stars, advertised cryptocurrencies, on the back of a bull-run in virtual currencies. But since November 2021, crypto prices have seen a massive crash leaving retail investors high and dry, especially, those taken in by the celebrity advertisements.
BUSINESS
Axis MF frontrunning case: Axis Bank awaits probe report; will not take action against mutual fund officials for now
The bank is standing by Axis Mutual Fund CEO and MD Chandresh Nigam after suspending two other fund house officials in connection with frontrunning allegations, say sources. But Nigam’s continuance might run afoul of the regulator.
BUSINESS
Axis Mutual Fund makes fund manager changes in 7 schemes as it probes irregularities
Axis MF said that it has been conducting a suo-moto investigation over the last two months
INDIA
Simply Save podcast | Will investors, distributors and investment advisors invest with Franklin Templeton again?
Simply Save is a weekly personal finance podcast from Moneycontrol. Here, we talk money and everything around money management, mutual funds, insurance, estate planning, how to make your next 1 crore rupees and such interesting conversations. Everything that helps you become a better saver and investor.
