At least five fund houses have voted against appointing politically connected persons to PSU boards, flagging governance and disclosure concerns. All resolutions got through
It is difficult to gauge the direction of the market in the near term as there are so many transient factors that are pulling markets in opposite directions, says Tyagi.
Imtaiyazur Rahman is a UTI veteran, but the mutual fund's assets under management has reduced by nearly 9% in the past two years.
Kshitij Anand and Sanjay Dongre talk about quality companies, increasing equity assets
The allocation would also depend on net worth, cash flows as well as end goals for him which will decide the exact allocation strategy which can be tailor-made with the help of a professional financial advisor.
In a statement, UTI AMC said its board of trustees approved the creation of segregated portfolio in five schemes -- UTI Credit Risk Fund, UTI Bond Fund, UTI Regular Savings Fund, UTI Dynamic Bond Fund and UTI Medium Term Fund.
In FY19, SBI MF, Reliance MF, HSBC AMC, ICICI Securities Primary Dealership and UTI AMC were fund managers of the EPFO.
Puri was the Managing Director of UTI Asset Management Company until September 2018
PSU banks have seen huge rerating, which tells you that valuations have factored in some amount of NPA resolution, said V Srivatsa of UTI MF.
In an interview to CNBC-TV18, V Srivatsa, EVP & Fund Manager at UTI MF shared his readings and outlook on specific stocks and sectors.
V Srivatsa, Executive VP & Fund Manager, UTI MF believes the government should have gone the ETF way instead of stake sale of PSUs to reduce the impact on stock prices.
Pharma looks good from a valuation perspective and so the house is increasing its exposure to the space, said Ajay Tyagi of UTI Mutual Fund.
"We are not expecting any action on the rates from RBI, but there is a very strong case for RBI to at least address excess liquidity in the system", Amandeep Chopra, Group President and Head of Fixed Income at UTI MF told CNBC-TV18.
The tyre industry is getting disciplined and we see structural growth ahead over 3-5 years, said V Srivatsa of UTI MF.
Market in yesterday‘s trade rallied owing to the gains from healthcare stocks. Swati Kulkarni of UTI MF said that pharma companies are going through the remediation process and after they US FDA approvals, the pharma stocks will perform well.
Speaking to CNBC-TV18 he said that in the coming quarters there will be revival in the pharmaceutical sector and the pent up demand due to demonetisation is likely to play its part in the automobile space.
Given the type of competition now, specially on the data front, it is quite clear that players with stretched balance sheets will have problem if this continues for a while, says Swati Kulkarni, of UTI MF on the Indian telecom industry.
It is going to be a volatile year and in the near term we are keeping an eye out for the Union Budget, Trump policies and the impact of Brexit. But India's macro fundamentals continue to look good, says Lalit Nambiar Fund Manager and Head of Research at UTI MF
The Budget is going to be the biggest market trigger for the next 3-6 months, says V Srivatsa, EVP and Fund Manager at UTI MF.
Analyst believe that destination tax, if it goes through in US then it will impact many emerging markets significantly. On the other hand, Ajay Tyagi of UTI MF says India will be relatively less impacted because 70 percent of the country's GDP is domestic consumption.
Today's expected trading range for the 10-year benchmark yield would be 6.4-6.5 percent, says Amandeep Chopra, UTI MF.
Due to the cash crunch the recovery in earnings is likely to get postponed to FY18 and uncertainty is likely to cloud the domestic potential in the near term, says Swati Kulkarni, Executive Vice President and Fund Manager of UTI MF.
Speaking to CNBC-TV18 Lalit Nambiar of UTI MF said that he is sticking with his portfolio. The broad thrust won‘t change because of what has happened, he said, referring to the demonetisation drive.
The Reserve Bank of India (RBI) hiked the cash reserve ratio (CRR), the percentage of cash deposits that banks have to maintain with RBI – at 100% of the deposits (NDTL) accrued between September 16 and November 11 as incremental cash reserve ratio.
As global volatility continues on account of factors such as US Presidential elections, Swati Kulkarni of UTI MF says any correction can be used as a good entry point by investors.