Mutual fund AUM surges to ₹58.9 lakh cr in May; inflows in equity MF hit all-time high
Inflows in equity mutual funds jumped 83.42% to ₹34,697 crore in May, while contributions to SIPs touched ₹20,904 crore last month, AMFI data showed.
Inflows in equity mutual funds jumped 83.42% to ₹34,697 crore in May, while contributions to SIPs touched ₹20,904 crore last month, AMFI data showed.
Young investors are the force behind India's stock market boom, driven largely by simplified, ‘sachet’ investing and an extended bull run.
The SIP contribution for August rose to an all time high of ₹15,813 crore, while mutual fund folios touched an all time high of 15.42 crore in August 2023.
Abrdn Investment, formerly Standard Life, to sell its entire 10.2% stake in HDFC AMC via a block deal today.
At present, the regulatory framework for AMCs includes provisions relating to the code of conduct for AMCs, fund managers & dealers, and various other disclosure and reporting requirements.
Though assets under management are at a record high of ₹40 lakh crore, it seems individuals have not embraced MFs completely, which poses both a challenge and an opportunity for the industry.
The company received approval from SEBI for launching a mutual fund business.
The global equity markets will remain volatile in H1 2023, but things will improve in the second half, says Naren, ED & CIO, ICICI Prudential Mutual Fund.
Index ELSS will provide investors with the dual advantage of earning passive returns from equity as well as availing 80C benefits on investments up to Rs 1,50,000.
Shares of Punjab National Bank hit a 52-week high after the government approved the divestment of its entire stake in UTI Asset Management Company.