With nearly 25 years of experience in investing Kunj Bansal has been in the mutual fund industry when it was in its nascent state. Learning and working with the best in the industry he talks about how professionals in the business think.
"IIFL Special Opportunities Fund and its series 2 and series 3 by IIFL Asset Management have collectively acquired 2.59 per cent of paid up equity share capital of RNLAM through secondary market purchase," IIFL said in a statement.
It's 7th of August which means it is MF-Day here at CNBC-TV18. In an interview to CNBC-TV18, Sailesh Raj Bhan, Deputy CIO - Equity Investment at Reliance Mutual Fund shared his readings and outlook on the market.
Mutual funds attributed the number of complaints to increase in folio base or investor accounts
The regulator feels instant redemption is akin to a bank account dispensing money on demand.
Equity, debt and fixed maturity plans (FMPs) are some of the themes for which the MF houses have filed the applications.
To safeguard the investors' interest, the fund houses are keeping a close watch on the developments and are looking to take a collective call on the resolutions to be moved at shareholder meetings of various listed Tata firms.
In conversation with CNBC-TV18, Sunil Singhania, Reliance MF, said the two uncertainties which have hit the market will turn out to be very positive for financial assets.
Seven asset management companies, including ICICI MF and Reliance MF, today bid for managing the second CPSE Exchange Traded Fund (ETF) comprising stocks of PSUs in the current fiscal with an estimated corpus of Rs 6,000 crore.
Ahead of its IPO, which opens on Monday, software provider Quick Heal Technologies has raised Rs 133.9 crore through issue of shares to 10 anchor investors, including BNP Paribas Advantage and Reliance MF.
The country's 44 fund houses together had an average assets under management (AUM) of Rs 11.06 lakh crore at the end of December 2014, compared to Rs 13.39 lakh crore registered in December-end last year, as per latest data available with Association of Mutual Funds in India (AMFI).
As per the latest shareholding pattern available on exchanges, Reliance MF has 5.75 percent stake in the company through two separate funds as of September 2015.
While a number of foreign players have exited the market in recent years, there would be still be 43 fund houses present in the country after Goldman Sachs' exit.
The public issue has opened for subscription today, which comprises a fresh issue aggregating up to Rs 510 crore and an offer for sale aggregating up to Rs 90 crore by Siddhartha Corporation Private Limited, a member of the promoter group.
HDFC Mutual Fund has retained its position as the most profitable fund house in 2014-15, with a profit after tax (PAT) of Rs 416 crore, while rival Reliance MF remains at the second place.
According to mutual fund industry data, retail investors held Rs 2,43,569 crore in MFs as of March 2015, higher than Rs 1,61,783 crore held by them in March last year.
Fund houses are upbeat about the industry's performance for the current fiscal (2015-16) as equity markets are expected to continue their momentum, making the segment attractive, industry insiders said.
The money was collected under Reliance Capital Builder Fund II's Series B scheme through a New Fund Offer (NFO) from January 9 till January 23, 2015.
Regulator Sebi is considering fresh checks against mis-selling of mutual funds and flouting of 'open bank infrastructure' norms for sale of these financial products, while it looks at ways to boost the market penetration through use of mobiles and internet.
The chief investment officer of one of India's top mutual funds by assets believes earnings growth is likely to pick up significantly, and clock 20 percent growth over the next five years, which would result in result in net earnings triple for companies overall by 2020.
In terms of total funds, HDFC MF remains at the top slot, Reliance MF and ICICI Prudential are at the second and third positions respectively.
The country's 44 fund houses together had an average AUM (Asset Under Management) of Rs 7,93,331 crore at the end of 2012, which increased to Rs 8,77,973 crore in 2013, as per latest data vailable with industry body AMFI (Association of Mutual Funds in India).
MF industry's assets under management hit a record high of Rs 9.58 lakh crore in August 2013 and have remained near Rs 9 lakh crore as the year draws to a close.
Reliance MF is bullish on IT and pharma, but has been moving away from FMCG.
Sunil Singhania, Head-Equities at Reliance MF said things have been changing over the last few months and though, the conditions remain challenging there is a lot of optimism in the market. Therefore, he believes the year ahead is certainly going to be interesting and positive.