Leo Puri resigned as MD and CEO of UTI Mutual Fund as his five-year contract ended on August 13
The fund will follow a blend of both value and growth style of investing to suitably align the portfolio depending on the market and opportunities
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.
Strong inflow pushed the asset base of equity mutual funds (MFs) by more than 10 percent to Rs 8.3 lakh crore by July-end from Rs 7.5 lakh crore at end-March.
Close to 15 equity schemes from various mutual funds have sought the Securities and Exchange Board of India’s approval to launch equity schemes in the current financial year
Leo Puri resigned as Managing Director and Chief Executive of UTI Mutual Fund as his five-year contract came to an end on August 13
All other features of the scheme will remain unchanged
T Rowe Price had filed a petition last week in the High Court seeking an extension of the term of Managing Director and Chief Executive Officer Leo Puri, whose tenure ended on Aug 13.
The minimum number of instalments under all plans to be counted as eligible investments under systematic investment and transfer plans will be six
The open-end debt scheme will allocate at least 80 percent of its corpus in securities issued by the Centre or state governments or any security that is unconditionally guaranteed by the Centre or any state governments
Hybrid funds, which invest in equities and debt securities, were sold aggressively by fund houses after demonetisation
The scheme will allocate at least 95% of its assets in equity and equity-related instruments listed on US stock exchanges and belonging to IT, internet and allied sectors
Liquid funds added 41,454 accounts last month. Fund managers attributed the addition in folios of liquid funds to a reversal of June outflows
The open-ended equity scheme will deploy at least 65 percent of its corpus in equities and equity-related securities of small-cap companies
Iyengar replaces Akshay Gupta who resigned from the position on August 4
As per SEBI norms, all open-ended and debt-oriented schemes must maintain a minimum of Rs 20 crore worth of assets under management at all times
The scheme was earlier jointly managed by Kasera and Neelesh Surana
Fund officials attributed the drop in equity investments to slowing inflows into equity schemes
The stake of HDFC AMC MD Milind Barve is worth Rs 212.35 crore.
Today, HDFC AMC stock was listed at Rs 1,738 on the NSE, up 58 percent as compared to the issue price of Rs 1,100 per share
The scheme will invest in equity and equity related securities, equity derivatives and arbitrage opportunities
The open-ended hybrid scheme will deploy 65-80 percent of its corpus in equities and equity-related securities
Prior to joining IIFL Mutual Fund, Maheshwari was with DSP BlackRock Investment Managers as chief investment officer (equities) since July 1997.
JM Dynamic Debt Fund will now be managed by Vikas Agrawal, while Shalini Tibrewala will oversee JM Money Market Fund
Parijat Agrawal and Hardick Bora will be co-managing Union Equity Savings Fund