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Mutual Fund Newsletter - June 07 to June 13, 2013

India Infoline News Service | Mumbai |

Domestic investors redeemed around $500mn from equity mutual funds in the last eight months till May 2013.

Top Stories

MF assets rise 5% MoM to Rs. 429bn in May

The mutual fund industry’s month-end assets under management (AUM) rose over 5% month on month or Rs. 429bn to an all-time high of Rs. 8.68 trillion in May as per the monthly numbers released by the Association of Mutual Funds in India (AMFI). The previous high of Rs. 8.26 trillion was in January 2013. AUM gains in May were led by inflows into income and liquid funds. Read more...

Investors offload equity funds worth Rs. 29bn in May

Domestic investors redeemed around $500mn from equity mutual funds in the last eight months till May 2013.

Investors offloaded equity funds worth Rs. 29.1bn due to volatility in the stock market, while buying Rs. 209.19bn in debt funds in May, according to data released by the Association of Mutual Funds in India (AMFI) on Monday. Read more...

Govt assures SEBI on meeting public float norms deadline

The Securities and Exchange Board of India (SEBI) on Thursday said that the government has assured it that the public sector units (PSUs) will meet the August deadline to bring down their promoters’ stake to 90%. Read more...

No justification for SEBI action on non-dilution of promoter equity

Special Stories

Exchanges may shift 8 cos to normal trading: SEBI

Market regulator SEBI said stock exchanges may consider transferring securities of eight firms to normal trading category from the restricted segment.

The eight companies which could be shifted are Jauss Polymers, Malti Textiles Mills, Techtrek India, Combat Drugs, Mehta Housing Finance, Essen Supplements India, Adi Rasayan and Shree Ganesh Biotech (India) Ltd. Read more...

MFs, insurers, pension funds may enter debt trading: SEBI

Market regulator SEBI (Securities and Exchange Board of India) on Thursday said that mutual funds, insurers and pension funds may be able to participate as trading members on the debt segment of exchanges. Read more...

India Inc fund raising via primary mkt dips 90% MoM in April

Fund-raising by India Inc through the primary market route dipped 90% to Rs. 1.34bn in April from Rs. 13.68bn over the previous month, according to SEBI (Securities and Exchange Board of India) data. Read more...

Pay penalty on failure to deposit TDS: I-T Dept

The Central Board of Direct Taxes (CBDT) has asked all the tax deducted at source (TDS) offices of the Income-Tax department to impose a penalty ranging from Rs. 200 to Rs. 1 lakh on failure to deposit timely and correct TDS or TCS (tax collected at source). Read more...

Cos to inform investors about restatement of accounts: SEBI

Market regulator SEBI (Securities and Exchange Board of India) asked listed companies to immediately inform the investors about any restatement of their books of accounts necessitated by points raised by the audit process. Read more...

Domestic News

Reliance General to focus on weather, liabilities insurance in FY14

Private sector Reliance General Insurance said that it expects to grow around 20% in the current financial year.

Reliance General CEO Rakesh Jain said the company would focus on enhancing its top-line and bottom-line fronts. The non-life insurer would concentrate on weather and liabilities insurance to drive growth in the current fiscal. Read more...

Cos raise Rs. 118.44bn via preferential share issue in April

Indian companies raised Rs. 118.44bn through preferential allotments in April as compared to Rs. 29.98bn in March, according to SEBI (Securities and Exchange Board of India) data. Read more...

Reliance Life launches Smart Pension Plan

UTI Mutual Fund proposes to split CMD post

1,000 MF distributors register with AMFI each month

Learning

Why MF distributors must add unique employee ID on new buys?


International News

Average 401(k) account balances rose 10%: Study

US SEC charges CBOE for regulatory failures

US investors redeem MFs worth $8.9bn in June 5-week

US SEC renames RiskFin division

New appointments

Kotak Mahindra Pension Fund appoints Sandeep Shrikhande as CEO

BNP Paribas Mutual Fund appoints Mr Shridhar Iyer as IRO

JM Financial Mutual Fund appoints Dr. R. Srinivasan

Tata MF announces change in key personnel
 

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