Page 3 - Asset Management Companies
Indian AMCs log highest-ever profit in FY21; HDFC unit leads industry
Surge in equity markets, flows and lower expenses boost bottom line of companies
 "Indian AMCs log highest-ever profit in FY21; HDFC unit leads industry")
Top headlines: AMCs log highest-ever profit; no bail for Aryan Khan yet
Relief for Zee Entertainment founders; Nearly 65% of infrastructure projects delayed by Covid-induced lockdowns. More on that in top headlines
HDFC Mutual Fund lines up a slew of exchange-traded funds as ranking slips
In the past few years, HDFC MF witnessed continued erosion in its market share as its key equity funds underperformed
 "HDFC Mutual Fund lines up a slew of exchange-traded funds as ranking slips")
Sebi might soon allow PE players to snap up, set up their own AMCs
At present, PE firms are not banned from acting as a MF sponsor, however, the prerequisites make it difficult for them to acquire or run a fund house
 "Sebi might soon allow PE players to snap up, set up their own AMCs")
Sebi may dilute certain clauses in controversial MF compensation circular
Regulator, industry gets into huddle ahead of October 1 deadline
 "Sebi may dilute certain clauses in controversial MF compensation circular")
Sebi asks AMCs to disclose details of risk, performance of MF schemes
Markets regulator Sebi on Tuesday directed asset management companies (AMCs) to disclose details of risk and performance of mutual fund schemes in all disclosures, including promotional material
 "Sebi asks AMCs to disclose details of risk, performance of MF schemes")
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
Sebi's new skin-in-the-game framework for MFs likely to stretch AMCs
Currently, fund houses are required to invest a maximum of Rs 50 lakh per scheme
 "Sebi's new skin-in-the-game framework for MFs likely to stretch AMCs")
Regulator may ask asset management firms to go slow on thematic schemes
Some themes aggressively pursued by fund houses include environmental, social and governance (ESG), international funds, and other innovative ETFs in the equity, as well as debt segments
 "Regulator may ask asset management firms to go slow on thematic schemes")
NARCL headhunting for core team begins ahead of launch in July
Invites quotes from Aon to help it in the hiring process
 "NARCL headhunting for core team begins ahead of launch in July")
Listed AMCs' shares gain after Sebi's 2-year ban on Franklin Templeton MF
Shares of HDFC Asset Management Company (AMC) rose as much as 3.4 per cent, while those of UTI AMC and Nippon Life India AMC gained about 1.83 per cent and 1.33 per cent, respectively, on Tuesday
 "Listed AMCs' shares gain after Sebi's 2-year ban on Franklin Templeton MF")
India's top listed AMCs ride rising market to beat Covid pandemic in FY21
Analysts expect momentum to sustain in the current financial year as equity flows rebound
 "India's top listed AMCs ride rising market to beat Covid pandemic in FY21")
Investors oppose Nippon Asset Management chief's remuneration offer
About 83 per cent, or 28.6 million of the 34.47 million votes polled by the public institution opted "against" the special resolution
 "Investors oppose Nippon Asset Management chief's remuneration offer")
Sebi modifies framework for limited purpose clearing corporation by MFs
Markets regulator Sebi on Tuesday tweaked its framework pertaining to contribution of asset management companies (AMCs) for setting up of limited purpose clearing corporation by mutual funds
 "Sebi modifies framework for limited purpose clearing corporation by MFs")
How one of world's greatest hidden fortunes was wiped out in days
US billionaire Bill Hwang and his private investment firm, Archegos Capital Management, are at the centre of one of the biggest margin calls of all time.
 "How one of world's greatest hidden fortunes was wiped out in days")
MFs trustees haven't done a good job, says former Sebi chief Damodaran
Every mistake that catches the regulator's attention is a mistake that has gone past the trustees, who didn't notice it or noticed but did not do anything about it, he says
 "MFs trustees haven't done a good job, says former Sebi chief Damodaran")
Sebi puts in place procedure for change in controlling interest of AMCs
This comes after Sebi, in February, relaxed profitability criteria for becoming a mutual fund sponsor with a view to facilitating innovation and expansion in the mutual funds sector
Sundaram AMC to buy Principal's core businesses for undisclosed sum
Principal Asset decided to exit the asset management business in India
 "Sundaram AMC to buy Principal's core businesses for undisclosed sum")
Wells Fargo in talks to sell asset management business to PE firms: Report
(Reuters) - Wells Fargo & Co is in exclusive talks to sell its asset management business, which manages more than $607 billion on behalf of customers, to a private equity consortium led by GTCR LLC and Reverence Capital Partners LP, according to people familiar with the matter.
 "Wells Fargo in talks to sell asset management business to PE firms: Report")
Kotak Mahindra AMC to launch ESG fund, offer open between Nov 20-Dec 4
The asset manager will use Sustainalytics ESG Risk Ratings, a leading global provider of ESG research, ratings and data, to support its Kotak ESG Opportunities Fund
 "Kotak Mahindra AMC to launch ESG fund, offer open between Nov 20-Dec 4")
