MF News:

  • ICICI Prudential Mutual Fund has launched NFO – ICICI Prudential Mutual Fund Bharat 22 ETF with issue size of Rs. 8000 cr. NFO will open from 15 to 17th Nov. 3.00% discounts offers to retail clients.
  • Mutual funds registered a staggering inflow of Rs. 2.86 lakh crore in the past 11 months bolstered by the ban on high value currency notes.
  • ICICI Prudential Mutual Fund has launched NFO – ICICI Prudential Mutual Fund Bharat 22 ETF with issue size of Rs. 8000 cr. NFO will open from 15 to 17th Nov. 3.00% discounts offers to retail clients.
  • Mutual Fund Equity Folios climbed to an all-time high of 46.63 mn new equity accounts, helping it supass previous peak of 41.10 mn thouched in 2009.
  • ICICI Prudential Mutual Fund has launched NFO – ICICI Prudential Mutual Fund Bharat 22 ETF with issue size of Rs. 8000 cr. NFO will open from 15 to 17th Nov. 3.00% discounts offers to retail clients.
  • AMFI is likely to approach SEBI requesting modification of certain regulations of the scheme consolidation guidelines. Among other things, AMFI is planning to request the market regulator on modification of norms related to market capitalization, Macaulay duration and inclusion of gold as an asset class in the multi asset funds. On debt funds, AMFI will request the market regulator to consider modified duration instead of Macaulay duration.
  • Post-acquisition of Peerless Funds Management in Aug 2017, Essel Finance, a part of the conglomerate Essel Group announced its entry to the mutual fund industry.
  • HDFC Mutual Fund has launched NFO HDFC Housing Opportunities Fund – close ended Thematic Equity Fund. NFO will open 16th to 30th Nov 2017.
  • The ‘Bharat 22’ Exchange Traded Fund (ETF), comprising 22 scrips of public sector units, will hit the capital market to mop up over Rs. 8000 crore for the government. NFO will open from 15th to 17th Nov 2017.
  • Axis Mutual Fund has launched Axis Multicap Fund, an open-ended equity scheme that would invest in a diversified portfolio of stocks from across the market-cap spectrum. The NFO opens from 30th Oct & closes on 13th Nov.
  • AMFI has announced the appointment of Mr. N S Venkatesh as its Chief Executive Officer, effective from 24th Oct. Prior to joining AMFI, he was the Executive Director at Lakshmi Vilas Bank. He had also served IDBI for over 19 years.
  • Edelweiss Mutual Fund will introduce monthly dividend option under the regular and direct plans of Edelweiss Equity Savings Advantage Fund, with effect from 1st November.
  • HDFC Mutual Fund increases stake in S Chand by 3.06% to 6.52%.
  • ICICI Prudential Mutual Fund has announced the fund management allocation for a number of funds. Accordingly, Mr. Rahul Goswami will be the co fund manager with Mr. Rohan Maru and Ms. Chandni Gupta for ICICI Prudential Ultra Short Term Plan. The changes are applicable with immediate effect.
  • Tata Mutual Fund has announced 27th Oct as the record date for the merger of suspended plans of Tata Dynamic Bond Fund, Tata Money Market Fund, Tata Gilt Securities Fund, Tata Mid Cap Fund, Tata Medium Term Fund, Tata Long Term Debt Fund, Tata Liquid Fund and Tata Corporate Bond with the regular/direct plans of the respective funds. The fund house has also approved merger of quarterly dividend plans Tata Gilt Mid Term Fund with the periodic dividend option of the respective fund.
  • AMFI data shows SIP monthly collection touches Rs. 5516 cr in September.
  • Equity mutual funds registered an inflow of over Rs. 80,000 crore in April-September 2017, a three-fold growth from the year-ago period, mainly due to the ongoing shift of household savings from real estate and gold to such financial products.
  • The mutual fund industry has added 7846 new distributors for the period Jan to Aug 2017. The total number of mutual fund distributors registered with AMFI including non individual ARN holders increased by 9684 to 92,565 in 2017.
  • The government introduced a new Central Public Sector Enterprise (CPSE) ETF named as Bharat 22 ETF (B22E), which will be managed by ICICI Prudential Asset Management Co. Ltd. It is expected to be launched in Oct 2017 and it will track the performance of 22 select companies disinvested by the central government of India.
  • SEBI has requested the Supreme Court to allow them to commence the appointment of self-regulatory organization (SRO) for mutual fund distributors.
  • In 2017, domestic mutual funds have picked up shares worth over Rs. 75,000 crore while FIIs invested Rs. 38,000 crore in the stock market.
  • Exit Load revised to Nil in Reliance Growth Fund and Reliance Vision Fund w.e.f. 3rd Oct, 2017.
  • Reliance Mutual Fund has appointed Mr. Manish Gunwani as the fund manager of Reliance Growth Fund, Mr. Sanjay Parekh as the fund manager of Reliance Banking Fund and Mr. Ashutosh Bhargava as the fund manager of Reliance Quant Plus Fund, effective from 16th Sep, 2017.
  • NSE could sell its 45% stake in mutual funds transfer agency Computer Age Management Services (CAMS). The sellout could happen ahead of NSE’s proposed initial public offering.
  • Reliance Mutual Fund has decided to modify certain features in the Reliance SIP Insure that are currently offered in the eligible schemes of RMF with effect from 9th Sep. Accordingly, the minimum monthly SIP amount is revised to Rs. 500 per month, in case of quarterly SIP, the amount is Rs. 1500 per quarter and in case of annual frequency, the minimum SIP amount is Rs. 6000 per year.
  • Reliance Mutual Fund has announced resignation of Mr. Sunil Singhania as the CIO- Equity investment, he is replaced by Mr. Manish Gunwani with effect from 5th Sep.
  • The mutual fund industry has crossed 6 crore milestone to reach 6.08 crore folios as on Aug 31. During the month, the industry has added 14.29 lakh folios. The equity funds have added more than 10 lakh folios in Aug.
  • AUM of the mutual fund industry increased to Rs. 20.59 lakh crore in Aug 2017, from Rs. 19.97 lakh crore in Jul 2017.
  • SEBI is set to introduce rules that will require the mutual fund industry to introduce asset categories, a move that will spark scheme mergers & is aimed at helping investors identify the right platform within the product heap.
  • ICICI Prudential Balanced Fund Monthly Dividend record date is 1st Sep. The dividend amount is 0.24 p.u. NAV is 24.85.
  • With mutual funds gaining traction among retail investors, AMC have filed draft offer documents with SEBI for 85 new schemes so far this year.
  • According to media reports, one of the whole time members of SEBI said that the capital market regulator do not wish to abolish the mutual fund distributor category. However, the market regulator wants investors to invest in mutual funds through advisory route (i.e. Registered Investment Advisors).
  • HDFC Mutual Fund has revised the provisions under the Weekly Interval transfer frequency offered under the STP facility of the schemes of HDFC Mutual Fund with effect from Aug 28, 2017.
  • Karvy Computershare has launched a web-based workflow for independent financial advisors (IFAs) called ‘GST Invoice Management Workflow Solution’. The facility will help mutual fund distributors to raise and submit GST invoice, verify, and e-sign it online

  • AMFI has discontinued the practice of accepting the mark sheet issued by NISM for the purpose of renewal of ARN of the mutual fund distributors.

  • Birla Sun Life Mutual Fund renames all legal entities, prefixes ‘Aditya’, with an immediate effect. The name change will also be applicable for all the scheme names of the fund house.
  • Axis Mutual Fund seeks SEBI’s approval for NFO launch Axis Growth Fund.
  • UTI Mutual Fund has modified the asset allocation pattern for seven of its schemes after SEBI allowed mutual funds to invest in REITs and InvITs.
  • Led by an over 41% surge in inflows from small towns or the B15 cities, Mutual Fund Industry AUM 30.35% to Rs 19.97 trillion in July.
  • UTI Mutual Fund has changed the exit load of UTI-Dynamic Bond Fund, effective from 9th Aug, 2017. As per the change, no exit load will be charged.
  • Birla Sun Life Mutual Fund has appointed Mr. Jayesh Gandhi and Mr. Chanchal Khandelwal to jointly manage Birla Sun Life Resurgent India Fund – Series 4, effective from Aug 10, 2017.
  • Mutual Fund Industry AUM is at Rs. 19.97 lakh cr in July against Rs. 18.96 lakh cr in June.
  • Investors poured Rs. 12727 cr into Equity Mutual Funds in July. This is the second-highest monthly inflow recorded by the industry.
  • Bank sponsored mutual fund houses have paid gross commission of Rs. 800 crore to their banking channel distributors in FY16-17. The commission paid by the asset management companies to their sponsor banks increased by Rs. 362 crore or 83% in the FY16-17.

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