Mutual Fund Newsletter – August 26 to 30, 2013

India Infoline News Service | Mumbai |

The market regulator directed the CRAs to devise their policies and procedures for effective implementation of these guidelines by October 01, 2013.

Top Stories

FDs, mutual funds take shine off gold: RBI

Household investments in mutual funds and fixed deposits have grown, while investments in gold has come down, according to RBI's (Reserve Bank of India) annual report 2012-13.

The report highlighted that financial savings has increased by 20 basis points i.e. from 7.5% of GDP to 7.7% on account of investments in mutual funds and fixed deposit whereas household investments in valuables, especially gold, declined from 2.4% of GDP to 2%, a fall of 40 basis points compared to the corresponding period last year... Read more

Amendments to the SEBI Act get Lok Sabha approval

Lok Sabha on Tuesday approved amendments to the SEBI (Securities and Exchange Board of India) Act providing for appointment of presiding officer at the Securities Appellate Tribunal (SAT).

The Securities and Exchange Board of India (Amendment) Bill, 2013 to amend SEBI Act, 1992 was introduced in the House in August by Minister of State for Finance Namo Narain Meena.

The new Bill seeks to replace the ordinance regarding appointment of SAT presiding officer. According to the proposed law, a retired and sitting High Court judges can also be appointed as head of the Tribunal... Read more

SEBI tightens conflict of interest norms for market entities

The Securities and Exchange Board of India (SEBI) issued guidelines for dealing with conflict of interest for investment/trading in securities by credit rating agencies (CRAs) and their employees involved in rating of securities.

The market regulator directed the CRAs to devise their policies and procedures for effective implementation of these guidelines by October 01, 2013.

“These guidelines will be applicable in case of investment/trading by CRAs and access persons connected to CRAs and in case of disclosures to all employees of CRAs,” SEBI said in a circular on Wednesday... Read more

Leader Speak

We plan to condense our business in small markets: RiddiSiddhi Bullions

“Consumers nowadays consider jewellery not only as a fashion/status statement but also a form of investment,” Prithviraj Kothari, Managing Director, RiddiSiddhi Bullions says... Read more

Domestic News

Anil Ambani betting on banking licence

Reliance Capital, which applied for a banking licence in June, is adequately capitalised for the next three years.
Addressing shareholders at the Company's AGM, Anil Ambani, Chairman, Reliance Capital stated inter alia: “Apart from the long term growth potential of the proposed bank as a profitable institution in itself, the immediate benefit to your company will be the reduction in our consolidated debt from approx. Rs. 20,000 crore to Rs. 5,000 crore, upon transfer of our commercial finance business to the proposed bank. This will improve our debt to equity ratio to a most conservative 0.5:1, far lower than industry standards.”... Read more

ICICI Sec, 10 others to act as investment advisers

The Securities and Exchange Board of India (SEBI) has authorised 11 entities to act as investment advisers under the new guidelines, which aim to provide more transparency in the stock market.

Earlier this year, SEBI had issued norms making it mandatory for any person or company seeking to advise investors to be registered with the market regulator for such activities.

Among the 11 entities include ICICI Securities IFMR Investment Adviser Services, Sensage Financial Services and Valuefy Solutions.

LIC Nomura MF, LIC introduce auto premium payment system

LIC Nomura Mutual Fund announced an auto premium payment system (APPS) in collaboration with LIC of India for investors to ensure timely payment of their LIC insurance premiums.

It is for the first time in India that mutual fund investors will have a facility of paying their premium on time without any hassles. Through APPS, the premium amount of the investor on due date will be remitted to LIC by LIC Nomura Mutual Fund, out of the investors fund... Read more

ICICI Pru AMC, Nordea AMC launch Global Stable Equity Fund

ICICI Prudential AMC has announced the launch of ICICI Prudential Global Stable Equity Fund which would be investing in units/shares of Nordea 1—Global Stable Equity Fund—Unhedged managed by Nordea Asset Management Company. It is an open-ended fund of funds scheme that seeks to provide adequate returns by investing in the some of the largest global companies that are business leaders in their domain.

The product will be an opportunity to derive benefit of diversification over markets and sectors, and positive growth projections which have low correlation to Indian equities. This fund seeks to invest in stable companies globally with a view to outperform the market over a full market cycle, with a focus on risk control... Read more

Learning

Five common investment mistakes to avoid

Ever noticed how most investment advice is centred around telling investors what they must do. But the opposite i.e. what investors must refrain from doing is as relevant. In this article, we list five common investment mistakes that investors must avoid... Read more
 

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