MF News

CIOs recommended introduction of mutual fund linked retirement plan and sought an additional exemption of Rs.50,000 for ELSS.

MFU will never popularize direct plan by writing to investors or by giving prominent positions in the website or through any means, states a communication sent by MF Utility to distributors.

While AMCs are happy to share the unutilized IAP corpus accrued till March 2015 with AMFI, some AMCs not ready to give away one basis point of IAP corpus which will be accrued from April 2016.

In its Budget wish list sent to the Ministry of Finance, AMFI has sought relaxation on service tax for distributors earning less than Rs. 10 lakh commission annually.

AMFI has requested SEBI to replace the term ‘risk’ with ‘fluctuation’ in MF advertisement disclaimers.

The recent correction in market has come as a good opportunity for investors to invest in ELSS.

The market regulator is said to have nudged fund houses to disclose the commission structure in account statement.

Of the Rs. 1.70 lakh crore which remained invested in equity funds for over two years as on December 2015, 71% or Rs. 1.21 lakh crore was held by retail investors.

A survey conducted by DBS-Manulife shows that 89% seek formal advice on retirement planning out of which 63% depend on financial advisors.

The survey shows that people set aside 26% of their monthly income, an average of Rs. 22,437 to save for retirement.

Despite 11% drop in Sensex last calendar year, retail equity folios jumped from 2.96 crore in December 2014 to 3.35 crore in December 2015.

Robert P. Browne, Executive Vice President and Chief Investment Officer for Northern Trust talks to Cafemutual on the sidelines of CFA India Investment Conference held in Mumbai recently. While he says that it is important to learn from past market crisis, he cautions that the future will not be same as the past.

Jorg Sunderman, Chief Operating Officer and Chief Financial Officer of Canara Robeco Mutual Fund talks to Cafemutual about his favorite Indian cuisine, his love for Bollywood movies and more.

SEBI has asked AMCs to start giving one basis point of their AUM to AMFI from April 2016 for conducting investor awareness programs.

AMFI board met and decided to go back to SEBI to explain the ramifications of this commission disclosure proposal.