Mutual Fund Round Up – January 27 to 31, 2014

CRISIL computed the returns of equity-oriented funds for the latest quarter as well as longer time frames.

February 01, 2014 1:41 IST | India Infoline News Service
Top Stories

Small & mid-cap funds outshine other equity schemes: CRISIL
Small and mid-cap equity funds, as represented by the CRISIL – AMFI Small & Midcap Fund Performance Index, have given the highest returns among equity-oriented funds in almost all timeframes ended December 31, 2013

CRISIL computed the returns of equity-oriented funds for the latest quarter as well as longer time frames. The small and mid-cap category emerged as the chartbuster beating its large-cap, diversified and ELSS peers, and the category benchmark, CNX Midcap Index over two-year, three-year and five-year periods. In fact, for the quarter ended December, which saw all equity categories outperform their respective category benchmarks, the CRISIL – AMFI Small & Midcap Fund Performance Index generated absolute return of 19.21%, higher than not only the CNX Midcap Index’s 15.34%, but also the broader-market barometer CNX Nifty’s 9.92%...
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Investment advises to get NISM certification to advice: SEBI
Capital market regulator SEBI (Securities and Exchange Board of India) has said investment advisers and their 'associated persons' can get certification from NISM or any institution accredited by it to offer investment advice in capital markets.

According to SEBI norms, investment advisers and their associated persons, including their partners and representatives, have to obtain requisite certification from the National Institute of Securities Markets (NISM) after passing relevant examinations, for operating in the markets...
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SBI MF opens 51 branches across B-15 towns in 1 day
SBI Mutual Fund, one of India’s oldest and largest mutual fund houses, in a first of its kind initiative in the Indian Mutual Fund industry, announced the opening of a record number of 51 branches at one go, in the Beyond top 15 cities spread across 23 states and one Union Territory in the country. With this the total number of branches of SBI Mutual Fund has increased to 161 with a network spreading across 27 states and 4 Union Territories.
SBI Mutual Fund launched the branches in B15 cities with a view to channelize investible surplus available at these non metro and smaller centers. With the presence of SBI Mutual Fund branches in these cities, investors will be facilitated to keep their investment in Mutual Funds. Such an initiative will also go a long way in increasing the financial literacy of investors located in such locations...
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Special Stories

BSE launches trading in Interest Rate Futures
BSE, Asia’s first stock Exchange, launched live trading in new interest rate futures, in 10 Year Government of India (GoI) securities. As per the guidelines issued by the regulator, trading will be allowed in Cash settled  'Single bond futures'. GOI Bonds with residual maturity of 9 to 10 years on the date of expiry of futures contracts are eligible for such trading.

The BSE Interest Rate Futures (IRF) contracts on 10 year cash settled government securities was launched by the Chief Guest, SEBI Chairman, UK Sinha, and Guest of Honor Executive Director, RBI, R. Gandhi...
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Domestic News

RBI found it acceptable to target WPI inflation: Axis MF
The RBI raised rates unexpectedly, but the bond market has taken the rate increase in its stride. The market has focussed on the guidance that further rate hikes may not be required going forward. The governor indicated that if inflation falls below the indicated trajectory, the RBI may turn accommodative, that is the RBI may cut rates if inflation declines... Read more

RBI chose to act this time: FundsIndia.com
Despite lower vegetable and fruit inflation, which was keenly watched by RBI in its last meet, CPI inflation was close to double digits at 9.87% in December 2013. High core inflation, as a result of continued price rise in services, was one of the key reasons behind the RBI’s rate hike.
In other words, the RBI chose to act this time, after a wait-approach in its last meet did not provide comfort on the inflation front... Read more

ICICIdirect launches financial games online
In November 2013, ICICIdirect.com unveiled its national advertising campaign ‘Leadership at Work. For You.’ The TVC campaign established the unmatched convenience and expertise in investments provided by ICICIdirect.com. The TVC encapsulated the customers’ experience, scale of operations and sheer range of the best investment options available in India... Read more

Edelweiss Absolute Return Fund declares dividend
Edelweiss Trusteeship Company Ltd, Trustee to Edelweiss Mutual Fund, has approved declaration of dividend under Edelweiss Absolute Return Fund.
The record date of dividend is 31 January and amount of dividend is Re. 0.22 per unit. Face value of the unit is Rs. 10.

Leader Speak

Investors should start small & invest for long term: Quantum MF

“If one sticks to the fundamentals of maintaining a proper balance between risk and return, an actively managed fund has a better chance of delivering better returns than a passively managed fund,” Jimmy Patel, CEO, Quantum MF... Read more


How to manage your credit card debt smartly!

Pankaj Jain, 29, sales executive, is a happy go lucky chap. He works hard and loves to have fun too. By the middle of the month he starts running low on cash. Cash withdrawal from the credit card and payments on the credit card seem like the best option to him. Of late, he noted that he has been barely able to pay off the minimum balance due and the total amount due has been rising dangerously. Though he has reduced his spending now, each month the interest has been mounting and it was swelling the total amount due. Pankaj need some serious debt management... Read more

International News

Taxable govt funds in US rises by $5.65bn: ICI

Total money market mutual fund assets decreased by $1.82 billion to $2.706 trillion for the week ending Wednesday, January 29, the Investment Company Institute reported on Thursday. Taxable government funds increased by $5.65 billion, taxable non-government funds decreased by $4.71 billion, and tax-exempt funds decreased by $2.76 billion.  
Retail: Assets of retail money market funds decreased by $4.72 billion to $917.74 billion. Taxable government money market fund assets in the retail category decreased by $760 million to $197.73 billion, taxable non-government money market fund assets decreased by $2.33 billion to $525.19 billion, and tax-exempt fund assets decreased by $1.63 billion to $194.83 billion... Read more

NISA program could be a shot in the arm for Japan's MF industry: Cerulli
The tax-exempt Nippon Individual Savings Account (NISA) program could be a shot in the arm for Japan's mutual fund industry.

According to estimates from Nomura Research Institute, highlighted in a joint publication with Cerulli Associates titled Asset Management in Japan 2013, released in December last year, NISA could unleash about ¥3 trillion into the country's mutual fund market in the five years starting in 2014...
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ICI releases updated framework for fund industry intermediary oversight
Washington-based Investment Company Institute (ICI) has released an update to the Financial Intermediary Controls and Compliance Assessment (FICCA) framework to assist mutual funds with the oversight of financial intermediaries that service fund shareholders and that primarily use omnibus accounts for recordkeeping.

“Several omnibus intermediaries have embraced the FICCA framework as an efficient tool to report to mutual funds on the effectiveness of their internal controls,” said Kathleen Joaquin, ICI Chief Industry Operations Officer. “The framework also provides funds with independent auditor assurance that relevant controls are operating effectively for intermediaries.”...
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