Mutual Fund Newsletter – August 12 to August 16, 2013

The AMCs investment in IT companies rose to three-month high in June.

August 16, 2013 7:13 IST | India Infoline News Service
Top Stories

MFs assets falls over 6% to Rs. 7.61 trillion in July
Assets under management (AUM) of liquid mutual funds declined 21% or Rs. 453 billion to Rs 1.29 trillion in the month of July due to huge redemption following the recent liquidity-tightening measures taken by the RBI (Reserve Bank of India) to strengthen the depreciating rupee.
The Indian mutual fund industry's AUM also fell by over 6% or Rs. 506 billion to Rs. 7.61 trillion in the month of July, according to the monthly data released by the Association of Mutual Funds in India (AMFI)... Read more

SEBI set for major overhaul of role, vision
In order to attract household savings into stock market and to strengthen its supervisory functions, SEBI (Securities and Exchange Board of India) has decided to go for a drastic change of its role, vision and organisational set-up with a stronger workforce and greater IT resources.

SEBI had engaged an independent consultant to revisit the structural and organizational issues, re-prioritise areas of focus and to look at the technological and manpower needs of SEBI, the regulator said in its board meeting on Monday... Read more 

Unauthorised investment schemes are fraudulent, unfair: SEBI
To stop growing instances of lay investors getting defrauded by money pooling schemes, SEBI (Securities and Exchange Board of India) has decided to declare illegal mobilisation of funds as a "fraudulent and unfair trade practice".

“The Board has approved the proposal to declare illegal mobilization of funds without obtaining a certificate under the SEBI (Collective Investment Schemes) Regulations, 1999 as a fraudulent and unfair trade practice, SEBI said in its board meeting in Mumbai on Monday... Read more

Domestic News  

AMCs investments in IT stocks rise 3-month high in June
Asset management companies (AMCs) exposure to IT (information technology) stocks increased 10.21% to Rs. 184.3 billion at the end of June out of their total equity assets under management (AUM) of Rs 1.8 trillion, according to SEBI (Securities and Exchange Board of India) data.

The AMCs investment in IT companies rose to three-month high in June. In March, the AMCs' total value of mutual fund investments in the IT sector stood at Rs. 191.96 billion... Read more

Reliance General focuses on SME sector
Reliance General Insurance, a part of Reliance Capital, is focusing to service the SME (small and medium enterprise) sector through the sale of health insurance products as parts of its plans to achieve full-year profitability this fiscal.

According to the private insurer, SME sector is a highly under-penetrated, widespread and unorganised with most organisations in the country not providing health insurance cover to their employees... Read more

ICICI Pru MF reports net profit of Rs. 1.1 billion for FY13
ICICI Prudential Mutual Fund net profit increased to Rs. 1.1 billion for the financial year ended 31 March 2013 as against Rs. 880 million in FY11-12.

The company's gross income increased to Rs. 3.89 billion in FY13 from Rs. 3.51 billion in FY12. The average assets under management (AUM) of the fund house stood at Rs. 878 billion in FY13... Read more

HDFC Mutual Fund launches HDFC CPO - I – 36M
HDFC Mutual Fund announced the launch of HDFC CPO - I - 36M August 2013, a Plan under HDFC Capital Protection Oriented Fund - Series I, a close-ended capital protection oriented income scheme.

The objective of the scheme, HDFC Capital Protection Oriented Fund – Series I is to generate returns by investing in a portfolio of debt and money market securities which mature on or before the date of maturity of the Scheme... Read more

MFs opposed only 1.5% resolutions in 2012-13
Indian mutual funds are still largely passive and/or indifferent while voting at investee company shareholder meetings. Only 1.5% of total resolutions put forth by investee companies have been voted against by mutual funds, according to a report titled “Mutual Funds Voting Pattern 2013 Analysis”.

The report—by InGovern—said that an analysis of the voting patterns of the mutual fund houses indicates that most Indian mutual funds have either voted in favor of proposals or have decided to largely abstain from voting in resolutions put forth by their investee companies... Read more


How to achieve financial independence
Financial freedom is necessary for each one of us so that we are not dependent on other people to support us for our requirements... Read more

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