Page 2 - Amc

Top AMCs see share of less-profitable passive schemes double in 3 years

Of every Rs 100 AUM of top 10 fund houses, ETFs and index funds accounted for Rs 14 in the first quarter of FY23

Kotak AMC rejigs management; Iyer made CEO of investment advisory business

Fund manager Deepak Agrawal has been appointed as the new CIO, debt. Another fund manager, Abhishek Bisen has been elevated to the position of head, fixed income position

Breach of cross-holding norms: Fairfax seeks consent settlement with Sebi

Canadian billionaire Prem Watsa's firm holds over 10% stake in two AMCs

In catch-up game, LIC MF aims to enter big boys' club in next 5 yrs

LIC AMC, which has been stuck with fixed income schemes for long, has filed for three new schemes in the debt equity and money market spaces and has 26 schemes running now

India adds 5.1 million new mutual fund investor accounts in June quarter

Asset management companies added 51 lakh investor accounts in June quarter, taking the total tally to 13.46 crore, on increasing awareness and ease of transactions through digitisation

Axis Bank reappoints Rajiv Anand as Dy Managing Director for three years

Anand joined Axis AMC in 2009 and was its founding MD and CEO. He subsequently went on to become the President (Retail Banking) of Axis Bank in 2013 and then joined the bank's board in 2016

Amazon Prime Video partners with AMC Networks for content in India

Amazon Prime video will provide access to advertisement-free subscription service AMC+ and AMC's streaming service Acorn TV on Prime Video Channels in India on a subscription basis

Listed AMCs see a muted January-March quarter due to pressure on yields

UTI AMC saw its profit after tax drop 60 per cent year-on-year (YoY), while Aditya Birla Sun Life AMC saw its profits increase just 1 per cent

Number of asset management companies dip even as assets swell, shows data

The number of asset management companies (AMCs) - managing at least some AUM - have declined from 45 to 42

Sebi directs AMCs to set up audit committee with minimum three directors

At least two-third of the directors will be independent directors of the AMC

BFSI Insight Summit: MF institutional structure needs rethink, says Thorat

Under the current framework, an MF has three main pillars -- sponsor, trustee, and AMC

Should you subscribe to AB Sun Life AMC IPO? Here's what analysts say

Analysts recommend subscribing to the issue given the company's reasonable valuations, strong return on equity, diverse product portfolio and well recognised promoter group.

Sebi tweaks MF compensation circular ahead of implementation on Oct 1

Sebi has also replaced the nomenclature 'key employees' - used in the original circular - with 'designated employees'

Zerodha gets in-principle approval from Sebi to start mutual fund business

In February 2020, the broking company had applied for the AMC license

Sebi allows AMCs to offer instant access facility in overnight MF schemes

Also, the regulator has tweaked the framework with respect to treatment of unclaimed redemption and dividend amounts

HDFC AMC reports 14% surge in profit after tax to Rs 345.45 crore in Q1

HDFC Asset Management Company (AMC) on Friday reported over 14 per cent surge in profit after tax to Rs 345.45 crore for the three months ended June 30. The asset management firm had posted a profit after tax (PAT) of Rs 302.36 crore in the same quarter preceding fiscal, HDFC AMC said in a regulatory filing to the stock exchanges. The company's total income rose to Rs 607.99 crore in the June quarter, from Rs 491.31 crore in the year-ago period. The company's average assets under management increased 17 per cent to Rs 4,16,900 crore as of June-end 2021, compared to Rs 3,56,200 crore in June 2020, giving it a market share of 12.6 per cent. HDFC AMC, investment manager of HDFC Mutual Fund, has a diversified asset class mix across equity and fixed income/others. It also has a countrywide network of branches along with a diversified distribution network comprising banks, independent financial advisors and national distributors.

Regressive regulation

New compensation rule for AMCs is illogical

Fund houses to press for modifications to Sebi compensation circular

Among the most important tweak sought by the industry will be to reduce the ambit of 'key employees'

UTI AMC hits 52-week high as firm returns to profit in March quarter

The shares of the company have gained nearly 16 per cent over its issue price of Rs 554

Mismatch between valuations and fundamentals glaring for AMCs: Analysts

March historically a good month for savings products across categories, for reasons such as tax incentives