Mutual Funds Newsletter - 08 July to 12 July, 2013

India's equity mutual funds reported the highest net inflows over the past 21 months in June 2013.

July 12, 2013 8:13 IST | India Infoline News Service
Top Stories

MF AUM rises for 5th consecutive quarter

Indian mutual funds’ average assets under management (AUM) rose to a new high of Rs. 8.47 trillion in the April-June 2013 quarter, up by 3.68% or Rs. 300 bn from Rs. 8.17 trillion in the previous quarter (excluding fund of funds) as per the latest numbers released by the Association of Mutual Funds in India (AMFI).

It marks the industry’s fifth successive quarterly AUM gain. The rise was led by heavy inflows into debt mutual funds on the back of interest rate cuts by the Reserve Bank of India (RBI).

Assets of long-term debt and gilt funds rose in the June quarter due to continued inflows into the category with investors expecting the interest rate scenario to ease in the coming months... Read  more

Equity MFs report net inflows of Rs. 8.72bn in June

India's equity mutual funds reported the highest net inflows over the past 21 months in June 2013.

The total net inflows in equity schemes (including equity linked saving schemes) were Rs. 8.72 billion in June, according to the Association of Mutual Funds in India (AMFI) data.

The sector had witnessed redemptions for 15 of the past 21 months. There were months when net outflows from equity even surpassed Rs. 35 billion.

Special Stories

SEBI to expand reach of stock exchanges

Market regulator SEBI (Securities and Exchange Board of India) has decided to expand the reach of the arbitration centers in the country. The regulator has asked stock exchanges to double their number within a year.

The stock exchanges having nationwide terminals should provide arbitration facility (i.e arbitration as well as appellate arbitration) at least at all centres specified by SEBI from time to time, SEBI said in a circular on Friday... Read more


What are 'block deals' and 'bulk deals'?

Two parties are required for a block deal to take place, while bulk deals are market driven... Read more

Domestic News

Reliance Capital sells its 39.5% stake in DTDC for Rs. 1.58bn

Reliance Capital's private equity business has sold its entire stake in courier company DTDC to French logistics company Geopost SA. A Reliance Private Equity offloaded its entire 39.51% stake in a Rs. 1.58bn deal. Anil Ambani-led company had bought the stake in 2006 for Rs. 66 crore

Reliance Life's new business premium zooms 100% in Q1 FY14

Reliance Life Insurance Company (RLIC), part of Reliance Capital Ltd, has registered 100% increase in its new business premium at Rs. 5.14 billion during Q1FY14, compared to Rs. 2.51 billion in the corresponding quarter in last fiscal.

The company registered 48% growth in new business (individual) premium at Rs. 2.67 billion in Q1FY14, as against Rs. 1.81 billion registered in Q1FY13, Reliance Life said in a press release on Wednesday... Read more

Mirae Asset MF plans to launch fixed income schemes

Mirae Asset Mutual Fund plans to launch new fixed income schemes to expand its reach to more cities.

In April, the company had said that it may launch a balanced fund and an exchange traded fund (ETF) in future to complete its product basket.

The company's Mirae Asset India Opportunities Fund (MAIOF)—an investment fund offered to local investors in India—completed five years recently... Read more

Avg AUM of MFs rises 23% to Rs. 8.16 trillion for FY13: PWC

Amidst volatility and uncertainty in the markets, average assets under management (AUM) of mutual funds posted a growth of 23% at Rs. 8.16 trillion for the year ended March 2013, according to CII-PWC report.

This was considerably higher than the 12% growth (Rs. 6.65 trillion) reported in March 2012. The industry has grown at a compound annual growth rate (CAGR) of 18% from 2009 -2013... Read more

Karnataka Bank, RCap sign MoU for financing MSMEs

Karnataka Bank has signed a Memorandum of Understanding with Reliance Capital for financing micro, small and medium enterprises (MSMEs) through co-financing arrangement. The Bank will provide fund based/non fund based finance to the eligible MSMEs referred by Reliance Capital as per the norms of the Bank... Read more

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