MF News:

  • AMFI has stated that the mutual funds will soon be allowed to trade in the commodity derivatives section. Institutional investors like banks and FPIs are also likely to take trading participation trade in this segment.
  • In the wake of alleged violation of AMFI’s best practices circular on commission structure of distributors, SEBI has reportedly asked a few mutual fund houses to give details of breakup of their total expense ratio.
  • SEBI asks mutual fund houses to adopt Total Return Index (TRI) to benchmark schemes.
  • The Mutual Fund Industry AUM fell to Rs. 21.38 lakh crore in Dec 2017 from Rs. 22.79 lakh crore in Nov 2017.
  • Punjab National Bank has signed an agreement with Principal Financial Group to sell its stake in its mutual fund joint venture for an undisclosed amount.
  • Mutual funds invested Rs. 1.20 lakh crore in equities in 2017, much higher than over Rs. 48,000 crore infused last year and more than Rs. 70,000 crore pumped in during 2015.
  • Mahindra Mutual Fund has announced changes in the key provisions of Mahindra Mutual Fund Dhan Sanchay Yojana. Accordingly, the name has been changed to Mahindra Dhan Sanchay Equity Savings Yojana. The scheme is categorized as an open-ended schemes investing in equity, arbitrage and debt.
  • ICICI Prudential Mutual Fund has launched NFO – ICICI Prudential Value Fund – Series 19 – 1262 days close ended equity fund. The fund will invest across sectors which are expected to benefit from Government’s initiatives of to boost rural economy & infrastructure. NFO will close on 4th Jan 2018.
  • ICRA Management Consulting Services Limited (IMaCS), a wholly owned subsidiary of ICRA, has launched a range of Fixed Income indices for the Indian debt market. The indices have been broadly grouped into four categories – ICRA Gilt Indices, ICRA Liquid Indices, ICRA Corporate Bond Indices, ICRA Composite Debt Indices.
  • AMFI body has requested the Ministry of Finance to introduce mutual fund linked retirement plans under Section 80 CCD. AMFI has asked the government to consider extending the tax benefits provided under 80CCD of the Income Tax Act (for eg. National Pension Scheme) to mutual fund retirement plans.
  • The Mutual Fund Industry garnering around Rs. 5900 crore through SIP in November, an increase of 52.00% from the year-ago period. The total money garnered by fund houses through SIPs has touched Rs. 40,780 crore in the first eight months of the current fiscal.
  • Asset mobilisation through New Fund Offer (NFO) in the equity segment has hit a nine-year high. Mutual Fund Industry collected Rs. 16700 cr this year.

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