Page 17 - Mutual Funds
Top investor association objects to Franklin's voting process on six funds
Seeks proportional representation of unitholders in letter to regulator
 "Top investor association objects to Franklin's voting process on six funds")
Mutual Funds prune BFSI and FMCG exposure in December, shows data
In December, MFs sold equities worth about Rs 37,000 crore, while FPIs bought Rs 50,000 crore worth of equities in the secondary market
 "Mutual Funds prune BFSI and FMCG exposure in December, shows data")
Trust MF launches maiden new fund offering: All you need to know
It will remain open for subscription from January 15-27, and be managed by Anand Nevatia along with Sandeep Bagla, CEO of Trust AMC
 "Trust MF launches maiden new fund offering: All you need to know")
Worried about valuations? Go for a balanced advantage fund, say experts
Investors who run an asset-allocated portfolio with periodic rebalancing can manage without them
 "Worried about valuations? Go for a balanced advantage fund, say experts")
ICICI Prudential MF floats open-ended scheme based on business cycle
The fund will employ a top-down approach using macro indicators such as inflation, growth, and deficit, and scout for opportunities in the Nifty 500 universe. The NFO closes on January 12
 "ICICI Prudential MF floats open-ended scheme based on business cycle")
Equity schemes see outflow for 6th month on surge in profit-booking
Outflows surpassed Rs 33K crore between July and December
 "Equity schemes see outflow for 6th month on surge in profit-booking")
Aditya Birla Sun Life MF expects Nifty to grow 10-12% over 3 years
A weak dollar and strong commodity prices augur well for emerging markets (EMs)
 "Aditya Birla Sun Life MF expects Nifty to grow 10-12% over 3 years")
Union AMC aims to double assets base to Rs 10,000 crore this year
The fund house has more branches, workforce, and number of customers at its disposal thanks to the amalgamation of Andhra Bank and Corporation Bank with Union Bank of India (UBI) last year
 "Union AMC aims to double assets base to Rs 10,000 crore this year")
Foreign portfolio investors accounted for 55% of IPO mop-up in 2020
The Indian anchor list was dominated by mutual funds, with just one insurance firm HDFC Life Insurance in the top 15; it contributed Rs 109 crore
 "Foreign portfolio investors accounted for 55% of IPO mop-up in 2020")
SBI Mutual Fund raises stake in private lender CSB Bank to over 5%
Private sector lender CSB Bank on Tuesday said SBI Mutual Fund has increased its stake in the bank to over 5 per cent
 "SBI Mutual Fund raises stake in private lender CSB Bank to over 5%")
Securities transaction tax collection increases 42% despite Covid-19 crisis
Tax payouts from mutual fund unit holders shoot up by 84%
 "Securities transaction tax collection increases 42% despite Covid-19 crisis")
Tax parity with ULIPs tops Afmi's wish list ahead of Union Budget
Amfi has reiterated its long-standing demand of bringing parity in tax treatment between MFs and unit-linked insurance plans (ULIPs), both of which are investment products and invest in securities
 "Tax parity with ULIPs tops Afmi's wish list ahead of Union Budget")
Mutual fund industry in a bind over Sebi's new rules for executing trades
The regulations, which were notified in late October and lay down a code of conduct, have raised privacy concerns and may lead to longer working hours for fund managers
 "Mutual fund industry in a bind over Sebi's new rules for executing trades")
One must retrieve unclaimed dividend of MFs or shares at the earliest
Mutual fund investors stop getting the benefit of any appreciation after three years
 "One must retrieve unclaimed dividend of MFs or shares at the earliest")
India, US mutual fund industry earns 'top' grade for disclosure: Report
The mutual fund industry of India and the US received "top" grade for robust disclosure practices in areas such as fees and transparency of fund holdings
 "India, US mutual fund industry earns 'top' grade for disclosure: Report")
Consider well-diversified credit risk funds with limited exposure
Investors should observe a few precautions, despite the likely higher returns
 "Consider well-diversified credit risk funds with limited exposure")
'No' vote could mean emergency liquidation of securities: Sanjay Sapre, FT
President of Franklin Templeton India Sanjay Sapre speaks ahead of the vote on whether the fund house should be allowed to wind up troubled schemes
 "'No' vote could mean emergency liquidation of securities: Sanjay Sapre, FT")
Mutual fund assets likely to touch Rs 50 trillion by 2025, says Crisil
At the end of last month, it stood at Rs 30 trillion
 "Mutual fund assets likely to touch Rs 50 trillion by 2025, says Crisil")
Fintech to wealthtech
Opening mutual funds for more players will broaden the market
 "Fintech to wealthtech")
Mutual fund SIP inflows hit 31-month low at Rs 7,302 cr in November
Investment in mutual funds through systematic investment plans dropped to a 31-month low of Rs 7,302 crore in November amid challenging economic environment. However, investment through the Systematic Investment Plans (SIPs) route had risen in October after six months of continuous decline. The 44-player mutual fund industry witnessed an inflow to the tune of Rs 7,302 crore through SIPs in November as compared to Rs 7,800 crore in the precedingmonth, data from the Association of Mutual Funds in India (Amfi) showed. This was the lowest-level since April 2018, when the investment through the route wasRs 6,690 crore. Since the last three days of November were non-business days, a significant amount of SIP flows might not be reflected in the official numbers. It is also significant to note that there has been a healthy addition of 3.39 lakh SIP accounts in November. Fund collection through SIP was Rs 7,788 crore in September, Rs 7,791 crore in August and Rs 7,831 crore in July. It dr
 "Mutual fund SIP inflows hit 31-month low at Rs 7,302 cr in November")
