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Mutual Fund Newsletter - May 31 to June 06, 2013

India Infoline News Service | Mumbai |

Mutual funds registered net inflow of Rs. 1.06 trillion in April 2013 as against net outflow of Rs. 1.08 trillion in March 2013, according to SEBI (Securities and Exchange Board of India) data.

Top Stories

MF AUMs up 17.7% MoM to Rs. 8.25 trillion in April

During the financial year 2013-14 (as on April 30, 2013) so far, mutual funds net mobilised Rs. 1.06 trillion compared to Rs. 927.46bn in corresponding period of 2012-13, according to SEBI (Securities and Exchange Board of India) data.

The market value of assets under management increased 17.7% to Rs. 8.25 trillion as on April 30, 2013 from Rs. 7.01 trillion as on March 28, 2013.
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MFs report net inflow of Rs. 1.06 trillion in April 2013

Mutual funds registered net inflow of Rs. 1.06 trillion in April 2013 as against net outflow of Rs. 1.08 trillion in March 2013, according to SEBI (Securities and Exchange Board of India) data.

Private sector mutual funds reported inflow of Rs. 844.22bn, while public sector mutual funds saw inflow of Rs. 221.52bn in April 2013.
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MFs offload equity worth Rs. 14.23bn in April

Mutual funds net investment declined to around 24% to Rs. 504.32bn in the secondary market in April 2013 from Rs. 665.01bn in March 2013, according to SEBI (Securities and Exchange Board of India) data.

Like the previous months, mutual funds sold of Rs. 14.23bn in equity compared to Rs. 16.14bn sold in March 2013. However, mutual funds invested Rs. 518.55bn in debt market in April 2013 as against of Rs. 681.14bn invested in March 2013.
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Leader Speak

Return to high growth trajectory will be gradual: Franklin Templeton
We continue to believe that the worst is behind us and growth is likely to pick up in the current financial year, Sivasubramanian KN, CIO, Franklin Templeton Investments, says… Read more

Special Stories

Offer for sale: Should retail investors rush in?

With few days left for public sector undertakings to meet the Securities and Exchange Board of India’s June deadline on minimum 25% public shareholding, expect a deluge of offer for sales. But given the rich valuations that a number of bluechips are trading at, the moot point is whether investors should subscribe at current levels. Read more...

Domestic News

SBI MF eyes schemes of Daiwa Mutual Fund

SBI Mutual Fund (“SBI MF”) has agreed to acquire all of the existing India domiciled fund schemes of Daiwa Mutual Fund (“Daiwa MF”). State Bank of India, SBI Mutual Fund Trustee Company Private Limited and SBI Funds Management Private Limited (sponsor, trustee and investment manager of SBI MF respectively) have reached an agreement with Daiwa Asset Management Co. Ltd., Daiwa Trustee Company (India) Private Limited and Daiwa Asset Management (India) Private Limited (“Daiwa AMC”) (sponsor, trustee and investment manager of Daiwa MF respectively), to take over the sponsorship, trusteeship, management and administration of all the schemes of Daiwa MF. Read more...

FIIs invest Rs. 54bn in equity in April 2013

Foreign institutional investors (FIIs) recorded net inflow of Rs. 107.49bn in April 2013 as compared to Rs. 149.19bn in March 2013, according to SEBI (Securities and Exchange Board of India) data.

FIIs invested Rs. 54.14bn in equity in April 2013 against Rs. 91.24bn in March 2013. During the period under review, FIIs invested Rs. 53.34bn in debt market as compared to Rs. 57.95bn in March 2013.
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April PMS AUMs rise Rs. 6.11 trillion

Total assets under management (AUM) of portfolio management services (PMS) industry rose just 0.9% to Rs. 6.11 trillion in April 2013 from Rs. 6.05 trillion in March 2013, according to SEBI (Securities and Exchange Board of India) data.

As on April 30, 2013, AUM of discretionary PMS constitute 82.5% of the total AUM of PMS followed by advisory PMS (12.9%) and non discretionary PMS (4.6%).
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IIFL Dynamic Bond Fund NFO opens on June 6

Learning

What is fixed income?

The debt market in India consists of mainly two categories—the government securities (g-secs) markets comprising central government and state government securities, and the corporate bond market. The g-secs are the most dominant category of debt markets and form a major part of the market in terms of outstanding issues, market capitalization, and trading value. Read more...

MF addendums, notices: Why you should not avoid them?

When an asset management company (AMC) launches a mutual fund scheme, it issues an offer document that contains details of the scheme.

An offer document covers all the relevant information to help an investor to make his/her investment decision. Draft offer document means the offer document is in the draft stage. It includes information about the AMC, its sponsor company, trustees and registrar and transfer agents. The document also includes details of the risk factors about the fund, fund manager, benchmark of the product, among other things.
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International News

Vanguard launches Total International Bond Index Fund

Vanguard Group on Friday launched an international bond fund that may appeal to investors hunting for yield in overseas markets.

The Vanguard Total International Bond Index Fund is part of the company's first effort to offer foreign bond funds. The fund can be purchased now and its ETF shares, with a ticker of "BNDX", are expected to begin trading on June 4.
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New appointments

Religare Invesco MF announces change in key personnel

Religare Invesco Mutual Fund has announced change in key personnel with effect from 24 May 2013.

Accordingly, Kedar Wilankar is designated as Head - Human Resources, while Rohit Goyal is designated as Head - Institutional Sales. Madhu Nair - Head - Institutional & Offshore Sales is re-designated as Head - Retail & Offshore Sales.
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Tata Mutual Fund appoints Ritesh Jain as CIO

Tata Mutual Fund has appointed Ritesh Jain as Chief Investment Officer (CIO) with effect from 27 May 2013. Jain is 38 years old, has experience of 14 years and has qualifications as B.Com from University of Delhi, MBE from Indore University and DCM from The Institute of Chartered Financial Analysts of India. Read more...

HSBC Global AM strengthens Asian Equity capabilities

HSBC Global Asset Management has announced appointments to strengthen the firm's Asian equity capabilities.

Subject to regulatory approval, Sanjiv Duggal, currently Investment Director at HSBC Asset Management Singapore and lead manager of the HGIF Indian Equity fund, is appointed Head of Asian and Indian Equities. Duggal has been with HSBC Global Asset Management for over 17 years in Mumbai, London and Singapore, and will move to Hong Kong in his new role. Duggal will continue to manage the HGIF Indian Equity fund.
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