Currently, domestic mutual funds have about 2.29 crore active SIP accounts
The scheme will invest in a combination of diversified equity and equity related instruments, arbitrage and derivative strategies
The markets regulator said it will also frame warehousing norms for non-agriculture commodities and will consider allowing 'indices' once its robustness is established by the bourses.
The scheme will remain open for subscription until Aug 3. The scheme will deploy 65-80% of its corpus in equities and 20-35% in debt
UTI Healthcare Fund will now be solely managed V.Srivatsa
Invesco India Midcap Fund will be co-managed by Pranav Gokhale and Neelesh Dhamnaskar
Mutual funds attributed the increased interest in SIPs to investor education and robust performance of equity schemes
The fund house will levy an exit load of 0.5 percent if investments are exiting or switching out within two years of the allotment date
When you invest in an equity mutual fund there is no impact on tax immediately unless there is a deduction to be claimed.
The deal value is not yet known but generally, fund houses are valued at 6-7 percent of the total asset under management.
Kohlberg Kravis Roberts and Co (KKR), a global private equity (PE) firm is an investor in Avendus Capital. Avendus Capital has raised Rs 1,000 crore in the last two years.
To play safe, institutional and retail investors preferred large caps with a promising profitability potential and robust fundamentals, whereas mid and small caps bore the brunt of selling pressures.
According to Association of Mutual Funds of India (Amfi) data, the inflow has also helped in pushing the assets base of the 42-player MF industry to Rs 23.40 lakh crore at the end of June this year, an increase of 20 per cent from Rs 20.40 lakh crore in June-end 2017.
The scheme will follow a multi-cap approach for an equity allocation and dynamic bond approach for debt allocation
In addition to being the strategic leader for all equity activities, Balasubramaniam will also manage some of the funds on a hands-on basis
Never forget that you are investing because you have to achieve your financial goals. Investing without a goal is akin to travelling without a destination.
When the instrument matures after a month or two, or when the fund gets fresh subscriptions, that quantum is invested at the then prevailing yield levels.
SEBI had asked AMFI last year to rank stocks based on their market capitalisation for the convenience of mutual funds
The scheme will deploy at least 65 percent of its corpus in equity and equity-related instruments of small cap companies
The fund house has has lowered the minimum application amount for lump sum investments, systematic investment and transfer plans under two schemes.
Earlier, all three schemes were managed by V Balasubramanian
With the reclassification of mutual funds, there will be a change not only in basis of arriving at performance ratings by rating agencies, but also in the method of analysis to be adopted by the investors while reviewing the performance of the schemes for making investment decisions.
SIPs continue to be strong contributor with the monthly SIP numbers currently standing at Rs 7,300 crore.
Nilesh Shah of Kotak Mutual Fund expects some expects balanced advantage funds to start shifting money from debt to equity market soon
Of the total, Rs 23.40 lakh crore quarterly AUM as of 43 mutual fund players, Rs 22 lakh crore was managed by top 20 fund houses