Skip to main content

Featured Post

How to Pick Mutual Funds That Beat the Market

  Smart Strategies for Investing in Mutual Funds: A Guide to Maximising Your Returns One of the most well-liked investing options for people looking for expert management and diversification without having to choose individual equities is a mutual fund. One of the easiest ways for people to accumulate wealth over time is through mutual fund investments. Mutual funds combine the capital of numerous individuals to invest in a diverse portfolio of stocks, bonds, and other securities, in contrast to direct stock market investing, which necessitates considerable time, study, and risk tolerance. Mutual funds are a well-liked option for both new and experienced investors due to their expert management and diversification. But merely investing in a mutual fund and crossing your fingers seldom yields the best outcomes. A comprehensive approach that matches the appropriate fund selection and management strategies with your financial objectives, risk tolerance, and investment timeline is nece...
Post a Comment

The asset base of mutual fund industry grew 12% in September quarter


The asset base of mutual fund industry grew 12% in September quarter



The asset base of the mutual fund industry reached Rs 27.6 lakh crore in the second quarter ended September, a 12 per cent increase from the previous quarter. The main reason behind this is being said to be a surge in the stock markets. According to the Mutual Fund Association of India (AMFI), assets of 45 companies of the mutual fund industry were under the management of Rs 24.63 lakh crore under various funds in the April-June quarter, which increased 12 per cent to Rs 27.6 lakh crore in the July-September quarter. In the April-June quarter, there was a drop of eight per cent.

 

All the 10 major mutual fund companies recorded growth in assets under management during the July-September quarter. These include SBI Mutual Fund, HDFC Mutual Fund, ICICI Prudential Mutual Fund, Aditya Birla Sunlife Mutual Fund, Nippon India Mutual Fund, Kotak Mutual Fund, Axis Mutual Fund, UTI Mutual Fund, IDFC Mutual Fund and DSP Mutual Fund.

 

It is worth noting that Axis Mutual Fund, UTI Mutual Fund, SBI Mutual Fund and Kotak Mutual Fund have registered an average growth of 14 per cent to 16 per cent over the average growth of the entire industry during this period. Experts believe that the mutual fund industry has grown on a quarter-on-quarter basis due to the market boom, otherwise, the withdrawal of funds from equity funds has shown a lack of confidence in retail investors.

 

Investors also felt better to keep their money in cash than the uncertainty caused by Kovid-19. The asset base of SBI Mutual Fund, the country's largest mutual fund, rose 15.6 per cent to Rs 4,21,364 crore in the second quarter from Rs 3,64,363 crore in the previous quarter. At the same time, the asset base of HDFC Mutual Fund rose 5.4 per cent to Rs 3,75,516 crore in the September quarter as compared to the June quarter. Similarly, ICICI Prudential Mutual Fund's asset base rose 10.3 per cent to Rs 3,60,049 crore. The asset base of Aditya Birla Sunlife Mutual Fund and Nippon India MF grew by 11 per cent to a little over Rs 2,38,674 crore and Rs 2 lakh crore respectively.


Labels:

Comments

Post a Comment

Popular posts from this blog

Know All About Sovereign Gold Bond Scheme (SGB)

    The first time Sovereign Gold Bond Scheme was first introduced by the Government of India in the Union Budget of 2015-16. It was introduced by the Government of India to reduce the demand for the physical gold form and a part of this physical gold is bought every year in the form of gold bands for the purpose of invest in SGB.   Latest on Sovereign Gold Bond Scheme    A tenth tranche of the buy SGB Series – The Sovereign Gold Bond Scheme 2021-22 - Series X in which the Reserve Bank of India (RBI) sell gold bonds linked to the market price of gold on behalf of the government made available for investment will be open for buy SGB for the period from February 28th to March 4th.   What is Sovereign Gold Bond?   The Sovereign Gold Bond is an initiative taken by the Government of India to reduce the demand for physical gold as per the Reserve Bank of India as the increasing import of gold is affecting the growth and investment of India. Large quantities ...
Post a Comment
Read more

Know that senior citizens get many special concessions in income tax

  People above 60 years of age, i.e., senior citizens, not only get the benefit of income tax exemption but also receive special relief from income tax on investments and returns. Elderly citizens do not have to pay any income tax on income up to Rs 3 lakh.   Exemption in tax limit under 80C limit: The tax exemption limit for old citizens in a financial year is Rs 3 lakh, while a common man gets tax exemption only up to Rs 2.5 lakh. For very senior citizens who are above 80 years of age, it is Rs 5 lakh. That is, if the annual income of a senior citizen is up to Rs 3 lakh and TDS has not been deducted, then he need not file an income tax return. Similarly, very senior citizens need not file income tax returns if they do not have an annual income up to Rs 5 lakh.   If the age is more than 75 years then no return is required: Those above 75 years of age are not required to file tax returns. There is no any need to file ITR for people above 75 years of age who are ...
Post a Comment
Read more

SEBI introduces a new category of funds flexi-cap in mutual funds

  Securities and Exchange Board of India (SEBI) has introduced a new fund category, Flexi-cap, in mutual funds. According to the circular, mutual funds in this category need to invest at least 65 per cent of the portfolio in equities. However, there is no restriction in terms of allocation to market capitalization range and they can dynamically shift across large-cap, mid-cap and small-cap. So, effectively, the new category of the fund in a mutual fund is how SEBI used to define the multi-cap category until it changed the category's mandate.   On September 11, 2020, SEBI issued a circular informing about the change in the mandate of the multi-cap fund's category. According to the new guidelines of SEBI, multi-cap funds need to allocate 25 per cent of the portfolio to each-large-cap, mid-cap and small-cap stocks, increasing the minimum equity allocation to 75 per cent. AMC has been given time until January 2021 to make the required changes in the portfolios of their multi-c...
Post a Comment
Read more