Reliance Money launches e-magazine Reliance Money has launched an online magazine “Money Advisor” on mutual funds as a part of its investor education drive, it is reported. The magazine aims to cover the mutual fund industry, latest trends in AUMs, overview and recommendations on equity and debt funds, said reports. Mr Sudip Bandyopadhyay, CEO and [...]
Fortis India names fund managers Fortis India, the Indian mutual fund arm of Belgian-Dutch financial group Fortis, has appointed Mr Sameer Narayan as Head of Equity and Mr Alok Singh as Head of Fixed Income, it is reported. They replace Mr K C Reddy, who quit as Chief Investment Officer of the company in November. [...]
Reliance MF named India’s best fund house Reliance Mutual Fund has been named the country’s best fund house for 2008 by Hong Kong-based journal Asia Asset Management, it is reported. The publication tracks institutional fund markets in the Asia Pacific region. Asia Asset Management was to have reported that the Anil Ambani group entity Reliance [...]
mutual fund round-up MFs might make less through tax plans Media reports say that mutual fund industry might make less collections through its tax plans in the March quarter because of weak stocks and deep losses in 2008. Money managers have not had a steady flow of equity assets, which earn maximum fees of about [...]
IDFC India GDP Growth Fund launched IDFC Mutual Fund has launched IDFC India GDP Growth Fund, an open-ended equity scheme, which aim at generating long term capital appreciation by investing in equity and equity related instruments, said a press release. The scheme aims to capture the growth in India’s Gross Domestic Product (GDP). It would [...]
Shariah Benchmark Exchange-traded scheme launched Benchmark Mutual has launched the first Shariah Benchmark Exchange-traded scheme in India. It’s an open-ended listed index scheme, it is reported. The scheme will be benchmarked against the S&P CNX Shariah index, launched by Standard & Poor’s and India Index Services & Products. Each unit is priced at 1/10th of [...]
Mutual Fund industry assets up by 9.5% The Mutual Fund industry’s assets under management (AUM) have risen by about 9.5 per cent in January when compared with the figures for December 2008, it is reported. This rise comes after a series of downfalls witnessed in the last quarter of 2008. AUMs had risen by around [...]
Less erosion in open-ended funds With the downturn in the economy, open-ended funds are proving problematic to seasoned fund managers as they are faced with the pressure of redemptions; investors exiting from the fund. Open-ended MFs allow investors to exit at any point, so fund managers keep higher levels of cash for redemptions. While top [...]
Gilt funds record worst fall in January Debt funds investing in government securities tumbled in January on rising bond yields. Nine out of every ten actively-managed stock funds fell more than the benchmark share index, said media reports, quoting from data provided by fund tracker Lipper. Gilt funds, investing in government bonds, recorded a 4.15 [...]
