Mutual Fund Newsletter – July 15 to July 19, 2013

India Infoline News Service | Mumbai |

NA

Top Stories

RBI gives Rs. 250bn booster to MFs

As a contingency measure, the Reserve Bank of India on Wednesday has decided to conduct a special three-day repo at an interest rate of 10.25% for a notified amount of Rs.250 billion with a view to enabling banks to meet the liquidity requirements of the mutual fund industry. Read more...

Equity MFs accounts fall 1.1mn in April-June 2013

The number of folios fell to around 41.8 million at the end of June 2013 as against 42.8 million in the last fiscal (2012-13), according to the SEBI (Securities and Exchange Board of India) data on number of schemes and folios. Read more...

Assets of gold ETFs stand at Rs. 96bn in June

Assets under management (AUM) in exchange-traded funds (ETFs) declined to 9.2% toRs. 96.1 billion as of June 30 from a month earlier, according to the Association of Mutual Funds in India (AMFI) data. Read more...

Special Stories

RBI penalises 22 banks for violation of KYC norms

The Reserve Bank of India (RBI) on Monday  imposed monetary penalty on 22 banks for violation of its instructions, among other things, on Know Your Customer / Anti Money Laundering. Read more...

IDFs to be considered as debt instruments: PFRDA

Pension Fund Regulatory & Development Authority (PFRDA) on Thursday clarified that infrastructure deft funds (IDFs), incorporated either as mutual funds or as NBFCs are to be considered as debt instruments eligible for investments under the debt category of all NPS schemes. Read more...

Banks to strictly follow KYC rules for customers: RBI

The Reserve Bank of India (RBI) on Friday asked banks to strictly adhere to customer identification and anti money laundering (AML) rules for walk-in customers when selling insurance, mutual fund, gold and any other products above Rs. 50,000. Read more...

Non-CTS-2010 cheques to be cleared till Dec 31: RBI

Non-CTS-2010 cheques (Cheque Truncation System) will continue till December 31, 2013,the Reserve Bank of India (RBI) said. While banks have begun to issue fresh cheques in the CTS-2010 format, there is still a large volume of non-CTS-2010 format cheques being presented in image-based clearing. Read more...

Cheques containing fractions of Re not be rejected: RBI

If your bank has been refusing to accept cheques for amounts that include fraction of a rupee, it's against the rules and the bank should be penalised. In an internal circular issued earlier, the Reserve Bank of India (RBI) had warned that banks which refuse to accept cheques on such grounds from customers will be sternly dealt with. Read more...

Domestic News

RCAM increases total AUM by Rs. 7bn to Rs. 180bn

Reliance Capital Asset Management (RCAM), part of Reliance Capital Ltd,,.has increased its total Assets Under Management (AUM) by Rs 70bn in Q1FY14. The total AUM now stands over Rs 180bn across MFs, PMS, EPFO, Pensions Funds and Offshore Mandates, The Company registered a 21 per cent increase in its Average AUM In Mutual Funds to Rs 977.71bn  during Q1FY14.Read more...

MS Mutual Fund launches Morgan Stanley Ultra Short Term Fund

Reliance General to launch health insurance plan in August

JPMAMIPL launches JPMorgan US Value Equity Off-shore Fund

JPMorgan Asset Management India Private Limited (JPMAMIPL) announced the launch of JPMorgan US Value Equity Off-shore Fund, an open ended fund of funds scheme.The fund is open for subscription from 17 July 2013 to 31 July 2013. With this fund, J.P. Morgan Asset Management brings to investors an opportunity to invest in the world’s largest stock market. Read more...

Franklin Templeton announces dividend in FTDPEF

Franklin Templeton Investments (India), one of the largest* fund houses in the country has announced dividend in its open end fund of funds - FT India Dynamic PE Ratio Fund of Funds (FTDPEF). Read more...

Learning

Looking to invest in gold? Here’s some paper versions

In case you wish to avoid the hassles of storing and maintaining physical gold, you can for opt for the easier and efficient paper version. Gold exchange-traded funds and e-gold are good investment options for those looking for the comforts of physical gold yet avoiding the hassles that come with it. To buy or sell a gold one needs to hold a demat and trading account. Read more...

Advisors Don't Understand ETF Liquidity: Cerulli

According to recent research from Cerulli Associates, a Boston-based global analytics firm, exchange-traded fund (ETF) sponsors report ETF liquidity as the subject advisors understand the least. "The type of assistance advisors require from ETF sponsors varies significantly," states Alec Papazian, associate director at Cerulli Associates. "ETF sponsors view liquidity as the top growth challenge in 2013 as nearly two-thirds (63%) rated it as such. Read more...
 

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