Mutual fund folio count rises 9.5 mn in 8 months to all-time high of 65 mn
Enthused by strong participation from retail investors, the number of mutual fund folios has grown by over 9.5 million in the first eight months of the current financial year to an all-time high of 65 million at November-end 2017. According to data from the Securities and Exchange Board of India (Sebi) on total investor accounts with 42 active fund houses, the number of folios rose to a record 64,921,686 at the end of November from 55,399,631 at March-end -- a jump of 9.522 million.
Edelweiss Mutual Fund announces change in the fund management responsibility
Edelweiss Mutual Fund has announced change in the fund management responsibility of number of funds with effect from Dec 11. Among the changes announced, Mr. Rahul Kedia and Mr. Gautam Kaul will be jointly managing Edelweiss Liquid Fund, Edelweiss Ultra Short Term Fund, Edelweiss ASEAN Equity Offshore Fund, Edelweiss Emerging Markets Opportunities Equity Offshore Fund, Edelweiss Europe Dynamic Equity Offshore Fund, Edelweiss US Value Equity Offshore Fund, Edelweiss Greater China Equity Off-Shore Fund, Edelweiss Fixed Maturity Plan - Series 14, 20, 35, 38 and 41.
DHFL Pramerica MF allows unit holders to get unclaimed funds via phone
DHFL Pramerica Mutual Fund has enabled unit holders of DHFL Pramerica Insta Cash Plus Fund to get their due funds under unclaimed redemptions and dividend using their mobile phones with effect from December 18, the fund house said. Unit holders can claim the amount by availing the 'anywhere transact facility' provided by the fund house wherein the unclaimed amount can be credited through a call or shortmessage service. All other features of the scheme remain unchanged.
SEBI plans discussion paper on MF expense ratio
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Capital market regulator SEBI plans to bring out a discussion paper on mutual funds expense ratio with the focus on ways to bring it down even as the inflows been growing leaps and bounds in last few months. The market regulator is also examining the Uday Kotak Committee report on Corporate Governance for relevant recommendations that can be implemented in mutual fund industry.