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MF Weekly: Mutual funds pump Rs30,000-cr into stock markets in April-July - IndiaNotes.com
MF Weekly: Mutual funds pump Rs30,000-cr into stock markets in April-July
SMC | Published: 23 Aug, 2017  | Source : IndiaNotes.com

Highlights:


Mutual funds pump `30,000-cr into stock markets in April-July


Mutual funds managers pumped more than 30,000 crore in the stock markets during April-July of the current fiscal due to strong participation from retail investors. In comparison, foreign portfolio investors (FPIs) bought equities worth 21,000 crore during the period under review. Mutual fund managers invested a net sum of 30,264 crore in April-July period of the current financial year, as per data released by the SEBI. Month-wise, fund managers invested a net sum of 11,244 crore in stock markets in April, 9,358 crore in May, 9,106 crore in June and 11,800 crore in July. The inflow is in line with BSE's benchmark Sensex rising around 10 per cent during the first four months of the current financial year. At present, the mutual fund industry is managing an asset base of about 20 lakh crore mark.


Birla Sun Life MF to perfix 'Aditya' for all legal entities, scheme names


Birla Sun Life Mutual Fund renames all legal entities, prefixes 'Aditya', with an immediate effect. The name change will also be applicable for all the scheme names of the fund house. Subsequently, Birla Sun Life Asset Management Company will be called Aditya Birla AMC, Birla Sun Life Trustee Company to be called Aditya Birla Sun Life Trustee, and Birla Sun Life Mutual Fund as Aditya Birla Sun Life Mutual Fund. The name change is pursuant to receipt of fresh Certificate of Incorproation from Ministry of Corporate Affairs and SEBI Registration Certificate.


7 schemes of UTI Mutual Fund to invest in REITs and InvITs


UTI Mutual Fund has modified the asset allocation pattern for seven of its schemes after the Securities and Exchange Board of India allowed mutual funds to invest in REITs and InvITs, a notice from the fund house said. The seven schemes are UTI Smart Woman Savings Plan, UTI Retirement Benefit Pension Fund, UTI Children's Career Balanced Plan, UTI Unit Scheme for Charitable & Religious Trust and Registered Societies, UTI Income Opportunities Fund, UTI Medium Term Fund, and UTI Dynamic Bond Fund. As per the applicable limits set by SEBI, at the mutual fund level, the company will allocate not more than 10 percent of units issued by a single issuer of REIT and InvIT. Moreover, at a single mutual fund level, not more than 10 percent of its net asset value in the units of REIT and InvIT and not more than 5 percent of its net asset value in units of REIT and InvIT issued by a single issuer. Other features of these schemes will remain unchanged.


NPS AUM inches closer to 2 lakh crore: PFRDA


Thanks to the joint efforts of the government and the pension fund regulator, the assets of National Pension System (NPS) have reached closer to Rs. 2 lakh, says PFRDA. The total AUM of NPS witnessed a significant growth of over 67% from 1.18 lakh crore in FY 2015-16 to 1.98 lakh crore as per latest data. Similarly, the number of subscribers increased by a whopping 71% in the corresponding period from 97.5 lakh in FY 2015-16 to 1.66 crore in FY 2016-17. To expand the distribution footprint, PFRDA has allowed IFAs to add retirement products to their investment gamut. However, the response of retirement advisors has not been up to the mark as there were very few takers. Contractor said, “There have been just 35 IFAs registered as retirement advisors with us so far.” PFRDA has asked NISM and FPSB to encourage professionals to become retirement advisors. Advisors can cross-sell NPS to their existing clients. Intermediaries registered with SEBI and IRDAI can also consider adding NPS to their offerings to grow business.

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