MF News

A recent study of SEBI shows that distributors active in small cities giving a larger contribution in industry AUM for a rupee spent on them in terms of distribution costs by AMCs.

19 AMCs have net worth of less than Rs. 50 crore.

IREDA and IIFCL are offering tax free yield of 8.80% to retail investors for 15 and 20 year tenure whereas EPL has announced tax free yield of 9% to retail investors for the same tenure.

ICICI Prudential is the third fund house to cross Rs. 1 lakh crore AUM.

The organizers are educating advisors and investors about volatility through fun and games.

Market regulator SEBI has recommended to the government that Navratna and Miniratna Central Public Sector Enterprises (CPSEs) be allowed to invest in private sector mutual funds also.

Sunil Subramaniam, Director - Sales and Global Operations, Sundaram Mutual Fund talks to Cafemutual about the AMC’s expansion plans and more.

While some fund houses laud SEBI’s intention behind introducing seed capital, others doubt whether it will instill confidence among investors.

Tax authorities were demanding AMCs to pay tax on redemptions and on issue of bonus units.

The regulator has asked AMCs to invest 1% of the amount raised (subject to a maximum of Rs.50 lakh) in all open ended schemes during its life time.

After US and Europe Funds, AMCs are looking to provide a broader geographic diversification through funds which invest in emerging as well as developed markets.

Mirae Asset Mutual Fund has launched its first FMP called Mirae Asset Fixed Maturity Plan - Series - I - 368 Days. The NFO will open for subscription on February 13, 2014 and closes on February, 20 2014. The tenure of the FMP is 368 days.

The group companies and promoters holdings in Religare Mutual Fund’s AAUM stands at Rs. 143 crore.

The first two series of the fund mopped up close to Rs 560 crore.

Thanks to fewer redemptions and new fund launches, mutual fund industry recorded a dip in equity folio closures in January, shows the latest SEBI data.