New Delhi: The Enforcement Directorate has registered a case against senior officials of Franklin Templeton in a money laundering case. This is the first case filed by an investigating agency against him in April 2020 following the unexpectedly discontinued 3 date schemes by Franklin Templeton. The Enforcement Directorate has registered...
Mutual funds: 72 million folios added in 2020
The entire 2020 Covid passed under the shadow of 19. It would not be wrong to call the past year the year of the epidemic. Despite the Corona virus epidemic, investment in mutual funds and new investors continued to be added in 2020. Mutual fund companies added 72 lakh folios...
Mutual fund asset base increased 7.6% in December quarter
New Delhi: In the third quarter (October-December) of the current financial year 2020-21, mutual funds asset base has increased by 7.6 percent. After this increase due to the boom in the equity market, the mutual fund asset base increased to 29.71 lakh crore. According to the Association of Mutual Funds...
Axis Mutual Fund renamed Multicap Fund to Flexicap Fund
Axis Mutual Fund has renamed its Multicap scheme to Flexicap Fund due to new directives from market regulator Securities and Exchange Board of India (SEBI). After this change, Axis Mutual Fund will not be compelled to follow the market cap rules in the new category. That is, the fund house...
Mutual Fund houses on selling spree, Rs 30k cr eased out
New Delhi: With this, net withdrawal by mutual funds (MFs) has reached to over Rs 28,000 crore in the first 11 months of the ongoing year (January-November), data available with the Securities and Exchange Board of India (SEBI) showed. The markets, despite the withdrawals from mutual funds in the last...
Mutual funds add 4 lakh folios in Oct
New Delhi: The contribution to debt scheme for the month of October totalled to 4 lakh investor accounts, taking the total tally to 9.37 crore, according to the mutual fund industry. Market experts said the addition of folios suggests that investors were undeterred by the market volatility. Besides, it indicates...
Navneet Munot set to become MD, CEO of HDFC MF
New Delhi: Navneet Munot, the chief investment officer of SBI Funds Management, will succeed the present managing director Milind Barve, HDFC Mutual Fund, the latter said in an exchange filing. Milind Barve has been MD and CEO at HDFC AMC from its inception in 2000. SBI Mutual Fund became the...
Basics of Mutual Funds
For the people who are not much into finance or commerce would know the only definition of mutual funds is the ad that says 'Mutual funds are subject to market risks'. So, here are some basic understanding of mutual funds beyond what you heard in the television advertisement so far....
Franklin Templeton MF’s six shut schemes generate Rs 8,302 cr since closure
New Delhi: Franklin Templeton Mutual Fund has said its six shut schemes have received Rs 8,302 crore from maturities, pre-payments and coupon payments since closing down in April. Franklin Templeton MF shut six debt mutual fund schemes on April 23, citing redemption pressures and lack of liquidity in the bond...
Can SIPs be the answer to your early retirement?
Right before the pandemic struck, India was witnessing a growing consumer spending. In fact, in the past few years India saw the double-digit growth in credit cards which became one of the fastest growing retail credit segments. All this has been on the back of rising discretionary spends of millennials...