Asset Management

Govt may deal a tax blow to debt mutual funds; AMC stocks under pressure

If the proposed amendment to the Finance Bill gets cleared, investments across durations will be taxed as STCG

MFs, AMCs get more time to submit applications for empanelment of auditors

Capital markets regulator Sebi on Tuesday extended time till March-end for submission of applications for empanelment of forensic auditors for mutual funds, asset management companies (AMCs) and trustee entities. Earlier, the interested entities were required to submit applications by March 6. "It has been decided to extend the last date for submission of application and the revised date for submission of application is March 31, 2023," the capital markets regulator said in a public notice. On February 11, the Securities and Exchange Board of India (Sebi) had invited applications from eligible firms for empanelment of forensic auditors for MFs, their AMCs and trustee companies. After being empanelled, the auditors would take up assignments related to forensic audit of mutual funds, their AMCs and trustee companies or board of trustees. The applicants are required to undertake acquisition, extraction and analysis of digital evidence from mobile, computers, tablets, hard drives and

Wealth of prosperous Asians to reach $4.7 trillion by 2026: McKinsey report

A McKinsey analysis has revealed that the wealth pool of this group is projected to hit $4.7 trillion by 2026, up from $2.7 trillion in 2021, thanks to the rise in their incomes

GQG Co-founder Rajiv Jain is creating an investing empire in Florida

In 2022, when most asset managers watched clients yank cash from their funds as markets cratered, GQG thrived

Stock of this AMC has zoomed over 100% in one week

The BSE said that the exchange sought clarification from Shriram Asset Management Company on January 12, 2023, with reference to Movement in price, however, the reply is awaited.

BSNL waiting for NLMC to prepare land asset monetisation strategy

All land properties nominally valued above Rs 100 crore being monetised by NLMC, but it has been slow to formulate a plan; DoT will handle assets of lower value

UTI AMC soars 15% on heavy volumes, trades at 4-mth high on Tata deal buzz

According to media reports, Tata Group is in talks to buy majority stake in the company from PSU finance entities.

UTI, HDFC AMC top bets among asset managers; charts hint up to 17% rally

The overall trend for asset management shares continues to remain bullish, say charts.

Consistency should be key criterion when choosing NPS fund manager

Asset allocation to NPS should depend on age, risk appetite and asset mix in existing investments

UTI AMC, Punjab National Bank shares jump on the stake sale plans

The stake is valued at around Rs 1,437 crore at UTI AMC's last closing price of Rs 743.5

HDFC Bank awaiting RBI reply on subsidiary stake forbearance: Parekh

According to HDFC's latest annual report, the mortgage lender has over 10 subsidiaries, including HDFC Life Insurance, HDFC Ergo General Insurance, and HDFC Asset Management

Passive fund race: Bigger players steal the show over smaller counterparts

Over 95% passive AUM is with top 10 AMCs; experts say opportunities still exist in the smart beta space

Motilal Oswal AMC to accept fresh investments in international schemes

The AMC had suspended fresh subscriptions to these schemes in Jan after the MF industry came close to breaching global investment limit

Invest 80%, keep rest of corpus aside for corrections: Mirae's N Surana

Indian markets are holding on despite ongoing global chaos, thanks to supportive cyclical and structural factors, says Surana

Canada pension fund's Indian arm acquires Peripheral Expressway

Deal for Rs 6,267 cr is the largest road acquisition under government's asset monetisation programme this year

BOI Q2 net down 8.65% YoY on rise in provisions for standard assets

Earnings, asset quality profile improve for public sector lender

ICICI Securities Q2 PAT down 14% to Rs 300 cr; total income up marginally

ICICI Securities on Thursday reported a 14 per cent decline in profit after tax to Rs 300 crore in the three months ended September 2022 In comparison, the company had posted a Profit After Tax (PAT) of Rs 351.2 crore in the same quarter preceding fiscal, ICICI Securities, a subsidiary of ICICI Bank, said in a statement. The company's total income rose to Rs 865.63 crore in the second quarter ended on September 30, 2022 from Rs 856.56 crore in the year-ago period. "We had a satisfactory quarter and are progressing well on our articulated strategy of pursuing long-term sustainable growth by continuing to diversify in favour of non-broking business. For this, we are investing in right kind of products, services, partnerships. Today, broking revenue is about a third of our overall revenue, against two thirds a couple of years back," Vijay Chandok, Managing Director and CEO of ICICI Securities, said. The board has declared an interim dividend of Rs 9.75 per share in first half of FY23

HDFC AMC second quarter PAT rises 6% to Rs 364 cr; total income up 7%

HDFC Asset Management Company (AMC) on Wednesday reported a 6 per cent growth in profit after tax (PAT) at Rs 364.1 crore for the July-September quarter of the current financial year. In comparison, the asset management firm had a PAT of Rs 344.5 crore in the same quarter of preceding fiscal, HDFC AMC said in a filing to stock exchanges. Total income rose 7 per cent to Rs 648.9 crore for the quarter ended on September 30, 2022 from Rs 608.4 crore in the year-ago period. HDFC AMC, an investment manager to HDFC Mutual Fund, has a diversified asset class mix across equity and fixed income. The fund house managed an average assets under management (AAUM) of Rs 4.29 lakh crore for the quarter ended September 30, 2022 compared to Rs 4.38 lakh crore in the same quarter of preceding fiscal, registering a drop of 2.2 per cent. Its market share was 11 per cent in quarterly AAUM of the mutual fund industry. HDFC AMC stock rose 1.34 per cent to settle at Rs 1,960.20 on the BSE.

What is insider trading?

Sebi recently levied about Rs 6 lakh fine on three individuals for violating the insider trading norms in the shares of PVR Ltd. But what exactly is insider trading? Let's find out more in detail

Stay invested in US funds even if returns aren't attractive currently

It helps to diversify geographically; while YTD returns of Indian markets are positive and US markets negative, the opposite will also happen at some other time