Capital market regulator SEBI has issued 50 warning letters to mutual funds (MFs) in the last 3 years for violations of norms & actions have been taken against 5 entities. Besides, adjudication proceedings are underway in 7 cases and settlement has been reached through c…
Showing posts with label Mutual Fund Companies. Show all posts
Showing posts with label Mutual Fund Companies. Show all posts
India: Number of Fund Houses Reach 50
The number of SEBI registered AMCs (asset management companies) in India has reached 50, with the addition of PPFAS Mutual Fund on 10th October, 2012. According to the latest list of capital market regulator SEBI registered AMCs in India as on October 31, there are 50 AMCs a…
DSP BlackRock Investment Managers: Signed MF Distribution Agreement with Syndicate Bank
DSP BlackRock Investment Managers have signed a distribution agreement with Syndicate Bank as part of its initiative to expand retail distribution of DSP BlackRock Mutual Fund (MF) schemes. Syndicate Bank will distribute DSP BlackRock Mutual Fund schemes through its strateg…
MFs Discontinue More than 100 Multiple Plan Schemes
Mutual funds (MFs) will stop accepting fresh investments in more than 100 schemes with SIP (systematic investment plan) option, as Indian stock market regulator SEBI (Securities and Exchange Board of India) has asked fund houses to move to one plan, one scheme structure. Mul…
HDFC Mutual Fund announces distribution tie-up with Syndicate Bank
HDFC Mutual Fund, one of the leading Mutual Fund House in India, and Syndicate Bank, one of the oldest and most trusted public sector banks in India, recently announced that they have entered into an alliance to offer the entire bouquet of HDFC Mutual Fund's schemes thr…
L & T MF: Appoints Shriram Ramanathan as Fixed Income Head
L & T MF ( Mutual Fund) had announced the appointment of Mr. Shriram Ramanathan as Head - Investment - Fixed Income. Prior to joining L & T Mutual Fund, Mr. Shriram was Portfolio Manager - Fixed Income with Fidelity Worldwide Investment's India business from Decem…
Indian Mutual Fund Industry: Mergers and Acquisitions
The Major Mergers and Acquisitions in Indian MF (Mutual Fund) Industry. Indian MF Companies have been busy shopping since the beginning of the year 2008 April 2012: Schraders Plc buys 25% stake in Axis AMC (Asset Management Company) March 2012: L&T Finance acquires Fidelit…
UTI MF Partners with Ministry of Overseas Indian Affairs: MGPSY
Ministry of Overseas Indian Affairs (MOIA), Government of India has launched a special scheme named Mahatma Gandhi Pravasi Suraksha Yojana (MGPSY) for overseas Indian migrant workers. The scheme aims to encourage, enable and assist the overseas Indian migrant workforce to v…
Mutual Fund : AUM Rise First Time in Four Quarters
The Indian MF (mutual fund) industry posted a growth in quarterly average AUM (Assets under management) for the first time in the last 4 quarters. AUM rose by 4% to Rs. 6.92 lakh crore in the June ( April to June 2012) quarter from Rs. 6.65 lakh crore in the previous quarte…
Sundaram Scion, Mr. Harsha Viji, takes over as MD of Sundaram MF
Sundaram Scion, Mr. Harsha Viji, has taken over as Managing Director of Sundaram Asset Management Company , the investment manager of Sundaram Mutual fund, areputed and major fund house in the industry. Mr.Harsha Viji succeeds Mr.T.P.Raman who relinquished the post of Managi…
Mutual Fund New Advertising Norms: Help to Investors
MF New Ad Norms: Help to Investors By Mr. Dhirendra Kumar, CEO, Value Research Till now, mutual fund advertising in India has typically devoted a greater area to statutory warnings than cigarette advertising used to, or liquor advertising does in parts of the world where it&#…
LIPPER AWARDS 2012: A Brace of Awards for ICICI Pru. AMC
ICICI Prudential AMC scooped 2 Group awards at the Gulf Lipper Fund Awards 2012, which was held at the Jumeirah Emirates Towers hotel in Dubai on recently. India-based ICICI Prudential AMC was honoured with the Best Fund Group Overall and the Best Bond Fund Group in the Gulf…
Reliance to become most profitable Mutual Fund Company
Reliance MF (Mutual Fund) has overtaken HDFC MF to become the India's most profitable mutual fund company. For the last financial year 2010-11, PAT (Profit After Tax) of Reliance MF stood at Rs, 261 Crore, While that of HDFC MF was Rs. 242 Crore. On this period Reliance …
Largest Mutual fund house in India: HDFC overtakes Reliance
HDFC Mutual Fund with an average asset base of Rs 91,827.11 crore has overtaken Reliance MF to become the country’s largest AMC (Asset Management Company. This is the first time since 2009 that the average assets under management (AUM) of Reliance MF fell. At the end of Sep…
