MF News

Incorporated in August 1995, the industry body has 44 members.

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Latest AMFI data shows that 1514 individual MFDs have renewed their ARN in July. This exceeds the pre-lockdown levels of March when 1371 individual MFDs renewed their ARN.

In the large cap fund category, most funds have delivered an annual return of just 5.8% over the past 5 years and 8.3% over the past decade. For multi cap funds, the 5-year returns stands around 5.3% and 10 year returns around 9%.

SEBI will no longer entertain email complaints and urged investors to use SCORES to lodge their grievances.

Overall, the average folio assets of investors has gone up by 19% to Rs 2.94 lakh in July from Rs 2.48 lakh in March.

A report by Motilal Oswal Financial Services shows that the MF industry’s top 20 fund houses have exposure of Rs 11.01 lakh crore in equities. Fund houses like Mirae Asset, Canara Robeco and Invesco have seen the highest increase in their equity exposure.

Yes MF had Rs 56.97 crore of average AUM in June quarter, significantly down from Rs 2,000 crore in March 2019.

Overall, average monthly spending of Indians reduced by 40% over the last 4 months, says ET Money report.

Recently, AMFI specified more monthly disclosure norms in debt funds to increase transparency.

Sourabh Jain’s first book narrates financial concepts such as the importance of goal-based planning, behavioural science, investment discipline and so on in a cinematic way.

While close to 17% taxpayers earn between Rs.5 lakh and 10 lakh, 7% of the total taxpayers fall in the income range of Rs.10 lakh - Rs.50 lakh. Only 1% of taxpayers declare an income over Rs. 50 lakh a year.

While A Balasubramanian of Aditya Birla Sun Life was adjudged the CEO of the year, Ajay Tyagi of UTI MF bagged the best equity manager.

Krishnamurthy Subramanian, Chief Economic Advisor to the Government of India believes that these are extraordinary times and they require extraordinary measures.

IDFC Mutual Fund enables video KYC facility for investors.