Mutual Funds

MF agents want fee via forms, not cheques

Sebi seeking public comments on the same

The deadline for sending suggestions on variable entry load or fee for mutual fund agents is drawing closer and the responses so far are skewed toward one side.

Earlier, Securities and Exchange Board of India (Sebi), the country's capital markets regulator, had mooted a proposal to allow mutual fund investors to mention the commission or fee that they would like to pay the advisor or agent, thus trying to bring transparency.

Average AUM for Indian Mutual funds increase 8.68% in Feb. 2009: AMFI

Association of Mutual Funds in IndiaThe average asset under management (AUM) of country's mutual fund industry increased 8.68% from Rs 4,609,489.97 million to Rs 5,009,733.79 million for the month ended Feb 28, 2009.

The data about 35 fund houses published by Association of Mutual Funds in India (AMFI) shows that twenty three fund houses reported growth while 12 reported fall in their assets during the reporting period.

Fidelity launches ‘Wealth Builder Fund’ in Domestic Market

Fidelity launches ‘Wealth Builder Fund’ in Domestic MarketFidelity International has announced the launch of its Fidelity Wealth Builder Fund, an open ended fund of funds scheme offering asset allocation options with three Plans, in the Indian market.

The investment objective of the fund is to generate reasonable returns based on the Plan selected with minimum and maximum asset allocation between debt and equity.

The company stated in a press release that the fund manager will use a two-tier investment approach i. e. asset allocation and fund selection to invest in Fidelity's funds.

AUMs Reported 4% Growth In Dec

Assets under management (AUMs) Assets under management (AUMs) of Indian mutual funds have shown an increase of 4 per cent in December 2008. AUM had been declining since last three months according to the data released by the AMFI. The growth is caused following good performance of income funds. AUM of the mutual fund industry stands at Rs 4,18,336 crore as on December end as compared to Rs 4,02,029 crore in November 2008.

UTI Asset Management Company Eager to Divest 26% Strategic Stake

UTI Asset Management Company Eager to Divest 26% Strategic StakeIndia's oldest mutual fund, UTI Asset Management Company (UTI AMC) is in advanced stages of discussions to divest 26 per cent to a strategic partner. The potential buyers are the US firm T Rowe Price, Shinsei Bank of Japan and two European firms. The buyer is expected to pay between Rs 1,500 crore to Rs 1,800 crore, which would value the AMC at between Rs 6,000 crore and Rs 7,500 crore.

Single Entity Exposure In Debt Funds Is Cause Of Concern: Crisil

Single Entity Exposure In Debt Funds Is Cause Of Concern: CrisilA majority of the debt fund schemes have single industry exposure in India which is a cause for concern for multidimensional investments. Single company or segment exposure of funds can be affected by redemption pressures. It is said by the rating agency, Crisil in its recent release.  

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