MF News

The population of ultra HNHs is expected to increase to 2.94 lakh by FY21.

SEBI has granted in-principle approval to YES Bank to start its AMC.

India hits the bottom in the retirement index with an overall score of 44% among 43 nations.

Central KYC, which paves way for a single KYC to invest across all financial products regulated by different regulators, went live from July 15.

Apart from the main exchange, Sovereign Gold Bond was also available on NSE MF II distributor platform where it received about 20 kg worth of bids.

Distributors are facing problems registering National Automated Clearing House (NACH) mandates for SIPs.

Most of the IFAs whom Cafemutual spoke to believe that mutual fund retirement schemes are better than NPS to save for retirement.

With net assets of US $ 5.2 trillion, India now ranks 7th in the world HNI wealth index.

Distributors will continue to play an important in guiding investors and technology will help them increase their productivity, say MF CEOs.

The number of distributors whose application for Investment Adviser (IA) license is pending with SEBI is 95 as on June 2016. However, the trend is not encouraging, say advisers.

A majority of applications were pending for Category II AIFs which include private equity funds, debt funds and fund of funds.

The term ‘freezing of accounts in mutual fund parlance merely means permitting further transactions in the account only after the requirement is fulfilled, which in the context of FATCA compliance, is to provide a self-certification about one’s tax residency,” clarifies AMFI.

This will pave way for a single KYC which will suffice to invest in all financial products.

More than one third of total high net worth individual (HNWI) assets is in liquid assets. About 18% is sitting in retail bank accounts while another large chunk (15%) exists in the form of liquid cash.

With 2 lakh high net worth individuals (HNWIs) in 2015, India’s HNWI wealth is estimated to grow by 13.40% by 2025.