Mutual Funds Newsletter - Sept 30 to Oct 04, 2013
MFs invest Rs. 1,607 crore in equities in August
Mutual Funds made net invested of Rs. 5,359 crore in the secondary market in August 2013 compared to net sale of Rs. 25,909 crore in July 2013, according to SEBI data.
Mutual funds invested Rs. 1,607 crore in equity in August 2013 against Rs. 2,169 crore sold in July 2013. Mutual Funds invested Rs. 3,752 crore in debt market in August 2013 as against of Rs. 23,740 sold in July 2013, SEBI added.
As on August 30, 2013 there were a total of 1,248 schemes under mutual funds of which Income/Debt oriented schemes were 813 (65.1 percent), Growth/ equity oriented scheme were 345 (27.6 percent), Exchange Traded Funds were 37 schemes (2.4 percent), Balanced schemes were 38 (3.0 percent) and Fund of Funds investing Overseas schemes were 22 (1.8 percent)... Read more
Pvt mutual funds report net inflow of Rs. 27,299 cr in Aug
During August 2013, mutual funds saw a net inflow of Rs. 23,713 crore as compared to an outflow of Rs. 50,067 crore during July 2013, according to SEBI data.
Private sector mutual funds reported net inflow of Rs. 27,299 crore in August 2013, while public sector mutual funds saw outflow of Rs. 3,586 crore. In July 2013, private sector mutual funds registered outflows of Rs. 51,625 crore, whereas public sector mutual funds saw inflow of Rs. 1,558 crore.
During the financial year 2013-14 so far, mutual funds net mobilised Rs. 69,252 crore as compared to Rs. 1,53,781 crore mobilized in corresponding period of 2012-13. The market value of assets under management stood at Rs. 7,66,103 crore as on August 30, 2013 as compared to Rs. 7,60,833 crore as on July 31, 2013, indicating an increase of 0.69 percent.
CDSL launches TRUST
Rajeev Kumar Agarwal, whole-time-member, SEBI inaugurated Central Depository Services (India) Limited (CDSL)’s “TRUST” (Transactions Using Secure Texting) facility at a function held at the BSE International Convention Hall last week in the presence of PK Bindlish, CGM, SEBI.
Currently, due to the short period of time available to submit delivery instructions in a T+2 settlement, many investors sign blank slips, which could result in misuse. CDSL has, therefore, introduced TRUST -TRansactions Using Secured Texting as an alternative channel to submit delivery instructions, for trades done on a stock exchange. TRUST enables investors to give SMS confirmation of delivery instructions submitted by their brokers through their easiest login, CSDL said in a statement... Read more
PMS assets rise just 0.6% to Rs. 6.27 trillion in August
Total assets under management (AUM) of Portfolio Management Services (PMS) industry have increased by 0.6 percent from Rs. 6,27,996 crore in July 2013 to Rs. 6,32,075 crore in August 2013, according to SEBI data.
As on August 30, 2013, AUM of discretionary PMS constitute 83.2 percent of the total AUM of PMS followed by advisory PMS (11.9 percent) and non discretionary PMS (4.8 percent), it added
In terms of number of clients, discretionary services category ranks first with total of 48,118 clients, out of 64,369 clients in PMS industry, followed by advisory services with 11,128 clients and nondiscretionary category with 5,123 clients... Read more
AMFI appoints Sundeep Sikka as chairman
Reliance Mutual Fund President and Chief Executive Officer Sundeep Sikka has been appointed Chairman of the Association of Mutual Funds in India (AMFI). AMFI has also appointed Sandesh Kirkire, CEO of Kotak Asset Management Company, as its vice-chairman. The decisions were taken at the annual general body meeting of AMFI and were communicated to fund houses by the association CEO H N Sinor. Sikka and Kirkire have been elected by the AMFI members and would hold their positions till the next AGM in 2014, the association said in a statement issued on 26th September.
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... Read more
MF assets declines by $8.51bn to $2.68tln for latest week
Total money market mutual fund assets in US decreased by $8.51 billion to $2.685 trillion for the week ended Wednesday, October 2, the Investment Company Institute reported on Thursday.
Taxable government funds decreased by $40 million, taxable non-government funds decreased by $11.29 billion, and tax-exempt funds increased by $2.82 billion... Read more
Financial Literacy & Education Commission Meeting on Oct 23
The next public meeting of the Financial Literacy and Education Commission is at the U.S. Department of the Treasury on October 23 at 9 a.m. This meeting will focus on higher education decision-making, including improved information for student loan borrowers and tools that can help students understand their choices. Registration will close on October 16. All registrations are subject to approval based on capacity limitations.
Stanford GSB Pension to launch course on retirement planning
Stanford Graduate School of Business will launch its first massive open online course (MOOC) in October, The Finance of Retirement and Pensions, led by finance professor and pension expert Joshua Rauh. The course, which runs for eight weeks starting October 14, 2013, will help participants become more informed decision makers about their own retirement portfolios and about related government programs and policies. Prospective participants may find more information, including a video overview, and register for the course at: http://online.stanford.edu/course/rauh-finance.
This inaugural Stanford GSB MOOC is part of the school’s initiative to explore the most productive ways to use educational technology... Read more
US-based bond mutual funds attract $1bn in latest week: ICI
Total estimated outflows from US long-term mutual funds were $1 billion for the week ending Wednesday, September 25, 2013, the Investment Company Institute reported on Wednesday. Flow estimates are derived from data collected covering more than 95 percent of industry assets and are adjusted to represent industry totals... Read more