India’s mutual fund industry continues to exhibit robust growth, with its Assets Under Management (AUM) reaching a new milestone of ₹66.70 lakh crore in August 2024, according to data from the Association for Mutual Funds in India (AMFI). This substantial increase reflects a surge in investor interest driven by factors such as India’s burgeoning economy …
ICICI Prudential Mutual Fund has filed a scheme information deed (SID) for the ICICI Prudential Nifty EV & New Age Automotive ETF. This open-ended Exchange-Traded Fund tracks the Nifty EV & New Age Automotive Index. The scheme’s performance would be benchmarked against the Nifty EV & New Age Automotive TRI. Since the scheme is an …
The mutual fund industry’s assets achieved a new high, with an asset base of Rs. 66.70 lakh crore at the end of August 2024. The folio count surpassed 20 crores, and the positive inflows reflect investor trust and confidence in mutual funds as a preferred route for wealth creation. The overall AUM of the mutual …
The Enforcement Directorate (ED) has seized 1.29 million rupees ($15,360) in raids conducted in Mumbai and Kolkata as part of an ongoing investigation into front-running allegations at Axis Mutual Fund. The probe was initiated last year after the Securities and Exchange Board of India (SEBI) identified wrongful gains of 305 million rupees stemming from suspected …
Kotak Mutual Fund has filed a Scheme Information Deed with the market regulator SEBI to launch the Kotak Energy Opportunities Fund. This open-ended equity scheme follows the Energy theme. The performance of the Kotak Energy Opportunities Fund is measured against Nifty Energy TRI. The new fund offer (NFO) open and close date is yet to …
Contra funds are equity mutual funds that follow a contrarian investment approach. This strategy involves investing in stocks that are currently out of favor or underperforming in the market but possess strong fundamentals and potential for long-term growth. The essence of this approach is to buy undervalued stocks at low prices and hold them until …
Net flows into mutual funds took a notable hit in August, registering a decline of 42.8% primarily due to reduced inflows into debt-oriented schemes. The total net inflows for the month stood at Rs 1.08 lakh crore, a steep drop from Rs 1.89 lakh crore recorded in July. However, equity mutual funds showed resilience, with …
Quantum Mutual Fund has submitted a draft document to the Securities and Exchange Board of India (SEBI) for its upcoming Quantum Ethical Fund, an open-ended equity scheme designed to follow a comprehensive ethical theme. This fund aims to provide long-term capital appreciation by investing primarily in equity and equity-related instruments of companies adhering to specific …
Over the past year, a little over 40% of large-cap mutual funds have managed to outpace their benchmarks. Out of 42 large-cap funds, 18 schemes succeeded in beating their respective benchmarks. For comparison, the NSE benchmark Nifty50 has gained 24.94% in the past year. Large-cap mutual funds generally benchmark their schemes against indices like Nifty …
Axis Mutual Fund Limited has filed a scheme information deed (SID) for a new exchange-traded fund (ETF), Axis Nifty500 Value 50 ETF. It is an open-ended ETF replicating/tracking Nifty500 Value 50 TRI. The investment objective of the scheme is to provide returns before expenses that correspond to Nifty500 Value 50 TRI, subject to tracking errors. …
