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Mutual Fund Newsletter - 06 May to 09 May, 2013

India Infoline News Service/ Mumbai 17:31 , May 09, 2013

Mutual funds reported net outflow of Rs. 1.08 trillion in the month of March 2013 compared to net inflow of Rs. 35.84 billion in February 2013, according to the latest SEBI (Securities and Exchange Board of India) data.

Top Stories

MF folios decline 4.5% to 2 million in six months: AMFI

The number of retail folios in mutual fund schemes declined around 4.5% to 2 million in the past six months, according to Association of Mutual Funds in India (AMFI) data.

MFs have around 43 million retail folios at the end of March 2013, the data added.

Folios in equity-oriented schemes decreased 6.7% to over 2.4 million folios to around 33.2 million at the end of March, AMFI data showed… Read more

MFs offload equities worth Rs. 16.14 billion in March

Mutual Funds made net investment of Rs. 665.01 billion in the secondary market in March 2013 against Rs. 392.44 billion in February 2013, according to the latest SEBI (Securities and Exchange Board of India) data.

During March 2013, mutual funds net sold Rs. 16.14 billion in equity compared with Rs. 8.48 billion in February 2013.

Further mutual funds net invested Rs. 681.14 billion in debt market in March 2013 compared to Rs. 400.92 billion invested in February 2013… Read more

FIIs invest Rs. 91 billion in equity in March

Foreign institutional investors (FIIs) reported net inflow of Rs. 149.19 billion in March 2013 compared to Rs. 284.41 billion in February 2013, according to the latest SEBI (Securities and Exchange Board of India) data.

FIIs invested Rs. 91.24 billion in equity in March 2013 against Rs. 244.39 billion in February 2013, the SEBI data added… Read more

MFs report net inflows of Rs. 765 billion in FY13: SEBI

Mutual funds reported net outflow of Rs. 1.08 trillion in the month of March 2013 compared to net inflow of Rs. 35.84 billion in February 2013, according to the latest SEBI (Securities and Exchange Board of India) data.

Private sector mutual funds reported a net outflow of Rs. 840.02 billion, while public sector mutual funds saw outflow of Rs. 240.44 billion in March 2013, SEBI added…
Read more

Special Stories

NSE gets SEBI approval for debt trading segment

National Stock Exchange on Tuesday said that it has received approval from SEBI (Securities and Exchange Board of India) for setting up and operating debt segment.

However, the date of commencement of live trading in the segment would be announced later.

There would be separate order books for retail and institutional investors. The platform would also help in enabling all kinds of debt securities including corporate and wholesale debt under one roof… Read more

SEBI releases paper on co-location; proximity facility offered by bourses

Market regulator SEBI (Securities and Exchange Board of India) has proposed to bring in parity between the brokerages operating through systems placed within exchange premises and those at other locations.

The move is aimed to avoid any undue benefits to certain brokers due to physical proximity of their systems with that of the stock exchanges…
Read more

IMG to control fraudulent ponzi schemes

The Finance Ministry on Monday said that it has set up an inter-ministerial group to suggest ways to tackle fraudulent money pooling activities and protect the interest of investors, according to a media report.

The IMG has been set up through the Department of Financial Services, under the Finance Ministry.

The members of IMG will include representatives from the Finance and Corporate Affairs Ministries, Reserve Bank of India (RBI) and Securities and Exchange Board of India (SEBI), the report added… Read more

Domestic News

PFRDA appoints Axis as trustee bank from July 1

Pension Fund Regulatory and Development Authority (PFRDA) has appointed Axis Bank as a new trustee bank in place of Bank of India (current trustee bank) for National Pension System (NPS) from 1 July 2013.

Accordingly, all NPS related funds are to be remitted to the designated accounts of Axis Bank from 1 July 2013. The offices will continue to remit funds to the designated NPS Trust accounts being maintained with Bank of India till 30 June 2013, PFRDA said on 30th April… Read more

UTI MF tops Crisil fund ranking in Jan-March period

UTI Mutual Fund topped the tally of CRISIL Fund Rank 1 schemes with seven of their funds in the top cluster as per the latest CRISIL Mutual Fund Rankings for the quarter ended March 2013.

This was followed by SBI Mutual Fund with six funds. The rankings saw 46 out of 470 funds in the top cluster followed by 93 funds in the second cluster. During the quarter under review, top ranked funds from large cap, diversified and small & mid-cap categories beat their benchmarks on the back of allocations in information technology (IT), telecom and fast moving consumer goods (FMCG). On the other hand, lower ranked funds had a higher exposure to banks, construction, capital goods and metals which gave negative returns… Read more

Birla Sun Life MF plans to open more branches in FY14

Birla Sun Life Mutual Fund on Sunday said that it will focus on enhancing its equity segment in the overall portfolio along with building up duration products in the debt segment the financial year 2013-14, according to a media report.

The company also plans to expand its reach through increasing branch network and distributors, the report added.

At present, the company has over 88 branches and is planning to add another 22-25 branches this fiscal.

Birla Sun Life MF has average assets under management of around Rs. 770.47 billion as of FY13.

Templeton India Treasury Mgmt A/C Fund revises asset allocation pattern

Franklin Templeton Mutual Fund has proposed to change the asset allocation pattern of the scheme Templeton India Treasury Management Account (TITMA) with effect from 12 June 2013, to allow greater flexibility for the investment team, which will help them take advantage of the opportunities in the fixed income / money market space… Read more 

Learning

What is advance tax?

As the name suggests, advance tax refers to paying a part of your taxes before the end of the financial year. Also called ‘pay-as-you-earn’ scheme, advance tax is the income tax payable if your tax liability is more than Rs. 10,000 in a financial year. It should be paid in the year in which the income is received… Read more

International News

Vanguard forays into Hong Kong retail market

Asset management company Vanguard on Tuesday said it has launched its intermediary business in Hong Kong to strengthen its base in Asia.

In Asia, Vanguard provides institutions and intermediaries with access to its global management capabilities through ETFs (exchange traded funds), separately managed accounts and mutual funds.

The Hong Kong office also serves as the Asian hub for the company, which established a site in Japan in 2000 and in Singapore in 2003.

 



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