Page 2 - Asset Management Companies
Investors oppose Nippon Asset Management chief's remuneration offer
About 83 per cent, or 28.6 million of the 34.47 million votes polled by the public institution opted "against" the special resolution
 "Investors oppose Nippon Asset Management chief's remuneration offer")
Sebi modifies framework for limited purpose clearing corporation by MFs
Markets regulator Sebi on Tuesday tweaked its framework pertaining to contribution of asset management companies (AMCs) for setting up of limited purpose clearing corporation by mutual funds
 "Sebi modifies framework for limited purpose clearing corporation by MFs")
How one of world's greatest hidden fortunes was wiped out in days
US billionaire Bill Hwang and his private investment firm, Archegos Capital Management, are at the centre of one of the biggest margin calls of all time.
 "How one of world's greatest hidden fortunes was wiped out in days")
MFs trustees haven't done a good job, says former Sebi chief Damodaran
Every mistake that catches the regulator's attention is a mistake that has gone past the trustees, who didn't notice it or noticed but did not do anything about it, he says
 "MFs trustees haven't done a good job, says former Sebi chief Damodaran")
Sebi puts in place procedure for change in controlling interest of AMCs
This comes after Sebi, in February, relaxed profitability criteria for becoming a mutual fund sponsor with a view to facilitating innovation and expansion in the mutual funds sector
 "Sebi puts in place procedure for change in controlling interest of AMCs")
Sundaram AMC to buy Principal's core businesses for undisclosed sum
Principal Asset decided to exit the asset management business in India
 "Sundaram AMC to buy Principal's core businesses for undisclosed sum")
Wells Fargo in talks to sell asset management business to PE firms: Report
(Reuters) - Wells Fargo & Co is in exclusive talks to sell its asset management business, which manages more than $607 billion on behalf of customers, to a private equity consortium led by GTCR LLC and Reverence Capital Partners LP, according to people familiar with the matter.
 "Wells Fargo in talks to sell asset management business to PE firms: Report")
Kotak Mahindra AMC to launch ESG fund, offer open between Nov 20-Dec 4
The asset manager will use Sustainalytics ESG Risk Ratings, a leading global provider of ESG research, ratings and data, to support its Kotak ESG Opportunities Fund
 "Kotak Mahindra AMC to launch ESG fund, offer open between Nov 20-Dec 4")
Franklin Templeton case: Karnataka HC says consent of unit holders needed
The court has restrained the trustees from taking any further steps till the consent of unit holders via simple majority is obtained
 "Franklin Templeton case: Karnataka HC says consent of unit holders needed")
Trustees, asset managers in a bind over Sebi diktat on appointing officer
The August 10 circular mandates trustees to appoint a dedicated officer to assist them in their work
 "Trustees, asset managers in a bind over Sebi diktat on appointing officer")
HDFC AMC: Regulatory changes another headache apart from slowing business
HDFC AMC is looking at effective diversification in investment styles in the equity segment
 "HDFC AMC: Regulatory changes another headache apart from slowing business")
YES Bank signs agreement with White Oak to sell stake in MF arm
Private bank's mutual fund business was rudderless for while with uncertainty over bank's former leadership
 "YES Bank signs agreement with White Oak to sell stake in MF arm")
Decline in equity flows may push up asset size needed by AMCs to break even
June saw equity inflows taper to Rs 240 crore, while July saw outflows of Rs 2,480 crore, the first time in four years
 "Decline in equity flows may push up asset size needed by AMCs to break even")
Change in AUM mix a key near-term challenge for AMCs as investors turn wary
Share of high-margin equity is coming down in favour of less profitable liquid funds
 "Change in AUM mix a key near-term challenge for AMCs as investors turn wary")
Sebi modifies investment framework for asset management companies
The move is aimed at ensuring money remains within the scheme, which will provide some cushion to mutual fund unitholders in case of winding up of a scheme
Capital market disruption
Concluding the series the author says it is time the MF industry participated in the possibilities offered by the rapid advancement in technology
 "Capital market disruption")
YES Bank crisis: AMCs stare at Rs 3,345 cr exposure to equity, bonds
As per the data, SBI Mutual Fund has the highest exposure of Rs 152.83 crore, followed by Rs 67 crore by HDFC Mutual Fund in the bank's equities, as at the end of January.
 "YES Bank crisis: AMCs stare at Rs 3,345 cr exposure to equity, bonds")
Nippon Life India, HDFC AMCs: Surprise winners among financial stocks
As a result, analysts at Prabhudas Lilladher Research expect the valuation gap between the two AMCs to narrow, though HDFC AMC could retain its top position.
 "Nippon Life India, HDFC AMCs: Surprise winners among financial stocks")
Baroda, Union MFs bank on mergers to increase their market share
AUM of both companies declined in September quarter
 "Baroda, Union MFs bank on mergers to increase their market share")
Advisors push systematic withdrawal plans to curb outflows from MFs
Investors continue to pull out funds with markets making new highs, say industry players
 "Advisors push systematic withdrawal plans to curb outflows from MFs")
