Mutual Fund Newsletter - July 22 to July 26, 2013

India Infoline News Service | Mumbai |

Mutual fund industry is going through a tough phase.

Top Stories

Portfolio Managers' AUM rises to Rs. 7 trillion in June

Assets under management of portfolio managers rose to Rs. 7.01 trillion at the end of June from Rs. 6.17 trillion in the previous month, according to SEBI (Securities and Exchange Board of India) data. Portfolio managers individually managed assets worth Rs. 5.15 trillion for discretionary services in June besides Rs. 781.98 billion for advisory services and another Rs. 292.55 billion for non-discretionary investments. Read more...

AMFI proposes SEBI to increase borrowing limit for MFs

Mutual fund industry body AMFI (Association of Mutual Funds of India) has written to SEBI (Securities and Exchange Board of India) to consider an increase in the current borrowing limit for mutual funds, according to a media report. Read more...

Leader Speak

Expect further steps by govt to rein in CAD: Union KBC MF

Mutual fund industry is going through a tough phase. Investing at all possible market dips is an ideal situation, which can be availed by investing systematically, G Pradeep Kumar, CEO, Union KBC Mutual Fund, says... Read more
Special Stories

Banks to collect EMIs through electronic transfers: RBI

The Reserve Bank of India (RBI) advised banks that no fresh or additional post dated cheques (PDC) or equated monthly instalment (EMI) cheques should be accepted at locations where electronic clearance service (ECS) is available. Read more...

SEBI warns PSE for negligence in discharge of duty

Securities and Exchange Board of India (SEBI) issued warning to Pune Stock Exchange (PSE) for being "negligent in discharge of its duties". However, the regulator did not impose any monetary penalty. Read more...

Domestic News

Reliance Life initiates drive against spurious callers

Reliance Life Insurance Company (RLIC), part of Reliance Capital, has embarked upon a pan-India drive to fight against spurious calling by fraudsters and miscreants. Spurious calling is a term used by the insurance industry to refer to a group of fraudsters who call customers posing as representatives or employees of a company and lure customers into buying insurance products by making false and bogus offers. Read more...

IISL appointed index provider for proposed CPSE ETF

The department of disinvestment, in consultation with Goldman Sachs AMC, has appointed India Index Services & Products (IISL) as the index provider for the proposed CPSE ETF (central public sector enterprises-exchange traded fund), according to a media report. Read more...

Learning

Which is the best performing mutual fund now?

During my TV interviews, either the anchor or one of the callers will surely ask the question, “Which is the best performing mutual fund now?” There is not a single show in which the question about best performing mutual fund is not asked. Everyone is interested in knowing which is the best performing mutual fund now. The reason behind this is they would like to check whether the scheme in which they have already invested is the part of the best performing mutual fund schemes or not. If it is not the part of best performing mutual fund, they would like to switch their investments to the current best performing mutual fund. Read more...

International News

US equity MFs report inflows of $3.84bn in latest week: ICI

US bond mutual funds report $3.49 billion of net outflows during the week ended July 17, marking their seventh consecutive week of withdrawals as investors fret about the changing tides of monetary policy, the Investment Company Institute said Wednesday. Read more...

Appointment News

Edelweiss Tokio Life appoints Venkat Krishnan as CTO

Edelweiss Tokio Life Insurance on Monday appointed Venkat Krishnan has as the company’s chief technology officer. Krishnan will be overall in-charge of technology and will report directly to Muralidharan R, Chief Operating Officer, Edelweiss Tokio Life Insurance. Read more...
 

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