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  • Top 10 Mutual Funds in India 2018

  • By Kavya Balaji | December 11, 2018

    Top 10 Mutual Funds
    Top 10 Mutual Funds

    SNAPSHOT: In this article, we have summarised the top mutual funds by picking one from each of the categories, so as to suit the risk appetite and investment goals of most of the investors.

    • ICICI Prudential Focused Bluechip Equity Fund
    • Aditya Birla Sun Life Small & Midcap Fund
    • Tata Equity PE Fund
    • HDFC Monthly Income Plan – MTP
    • L&T Tax Advantage Fund
    • SBI Nifty Index Fund
    • Kotak Corporate Bond Fund
    • Canara Robeco Gilt PGS
    • DSP BlackRock Balanced Fund
    • Axis Liquid Fund

    Top 10 Large Cap Equity Funds

    Listed below are some of the top performing large cap equity funds, as on 8 November 2018:

    Fund Name 1-Year Returns 3-Year Returns

    ICICI Pru Bluechip Inst I-G

    -0.37%

    12.71%

    ICICI Prudential Bluechip Fund Direct-Growth

    -0.36%

    12.70%

    HDFC Top 100 Direct-G

    -1.66%

    12.57%

    Reliance Large Cap Direct-G

    0.42%

    12.54%

    IDBI Nifty Junior Index Direct-G

    -10.07%

    12.22%

    Axis Bluechip Direct-G

    5.11%

    12.16%

    Indiabulls Bluechip Direct-G

    -1.90%

    11.93%

    Motilal Oswal Focused 25 Fund Direct-Growth

    -4.01%

    9.52%

    HDFC Top 100-G

    -2.43%

    11.74%

    Canara Robeco Bluechip Equity Direct-G

    3.18%

    11.46%

    Top 10 Small Cap Equity Funds

    Listed below are some of the top performing small cap equity funds, as on 8 November 2018:

    Fund Name 1-Year Returns 3-Year Returns

    L&T Emerging Businesses Direct-G

    -9.46%

    19.43%

    Reliance Small Cap Direct-G

    -7.56%

    16.07%

    HDFC Small Cap Fund Regular-Growth

    -0.77%

    17.25%

    Aditya Birla SL Small Cap Direct-G

    -19.93%

    12.63%

    Franklin India Smaller Companies Direct-G

    -12.28%

    11.45%

    Kotak Small Cap Direct-G

    -12.64%

    10.40%

    SBI Small Cap Direct-G

    -9.50%

    17%

    DSP Small Cap Direct Plan-Growth

    -17.79%

    9.18%

    HSBC Small Cap Equity Direct-G

    -20.15%

    9.01%

    Sundaram Select Micro Cap Series VIII Direct-G

    -20.21%

    9.50%

    Top 10 Multi Cap Equity Funds

    Listed below are some of the top performing multi cap equity funds, as on 8 November 2018:

    Fund Name 1-Year Returns 3-Year Returns

    Axis Focused 25 Direct-G

    2.74%

    15.45%

    Mirae Asset India Equity Fund Direct-Growth

    -0.96%

    14.54%

    Principal Multi Cap Growth Fund Direct-Growth

    -8.03%

    14.12%

    Aditya Birla SL Equity Direct-G

    -4.22%

    13.63%

    Kotak Standard Multicap Direct-G

    -2.19%

    13.28%

    Reliance Capital Builder Fund II Ser B Direct-G

    -4.28%

    13.16%

    Sundaram Value Fund Sr II Direct-G

    -3.41%

    13.13%

    SBI Equity Opportunities Fund Series IV Direct-G

    -11.03%

    13.12%

    IDFC Focused Equity Direct-G

    -7.07%

    13%

    ICICI Pru Multicap Direct-G

    2.43%

    12.34%

    Top 10 Sectoral – Infrastructure Funds

    Listed below are some of the top performing sectoral - infrastructure funds, as on 8 November 2018:

    Fund Name 1-Year Returns 3-Year Returns

    Taurus Infrastructure Direct-G

    -6.28%

    13.75%

    L&T Infrastructure Direct-G

    -13.58%

    15.83%

    IDFC Infrastructure Direct-G

    -23.73%

    10.68%

    Sahara Infrastructure Variable Pricing-G

    -14.65%

    13.39%

    Franklin Build India Direct-G

    -10.56%

    11.95%

    Reliance Power & Infra Direct-G

    -17.76%

    10.43%

    Kotak Infra and Eco Reform Direct-G

    -17.68%

    9.38%

    DSP T.I.G.E.R Direct-G

    -16.76%

    8.07%

    SBI Infrastructure Direct-G

    -15.15%

    7.67%

    ICICI Pru Infrastructure Direct-G

    -13.89%

    7.56%

    Top 10 Equity Linked Saving Schemes

    The best performing equity linked savings schemes (ELSS) as on 15 November 2018 are as follows:

    Fund Name 1-Year Returns 3-Year Returns

    Quant Tax Plan Direct-G

    -1.16%

    16.62%

    Motilal Oswal Long Term Equity Fund Direct-Growth

    -2.57%

    15.48%

    DSP Tax Saver Direct Plan-Growth

    -4.18%

    12.70%

    Principal Tax Savings Fund Direct

    -6.21%

    13.94%

    Aditya Birla Sun Life Tax Relief 96-Growth

    -1.78%

    12.48%

    IDFC Tax Advantage (ELSS) Fund Regular-Growth

    -3.88%

    12.84%

    HDFC LT Advantage Direct-G

    -1.09%

    14.38%

    SBI Tax Advantage Series II-G

    -8.81%

    14.34%

    L&T Tax Adv Direct-G

    -1.75%

    14.13%

    Invesco India Tax Plan Direct-G

    2.68%

    13.28%

    Top 10 Debt - Dynamic Bond Funds

    Listed below are the best performing debt - dynamic bond funds as on 15 November 2018:

    Fund Name 1-Year Returns 3-Year Returns

    Franklin India Dynamic Accrual Direct-G

    6.99%

    9.30%

    ICICI Pru All Seasons Bond Direct-G

    5.06%

    9.08%

    Kotak Dynamic Bond Direct-G

    5.17%

    8.60%

    DSP Strategic Bond Direct Plan-Growth

    3.34%

    6.53%

    DHFL Pramerica Dynamic Bond Direct-G

    4.32%

    8.31%

    Baroda Pioneer Dynamic Bond Direct-G

    5.44%

    8.15%

    UTI Dynamic Bond Direct-G

    3.32%

    8.04%

    SBI Dynamic Bond Direct-G

    3.55%

    7.94%

    L&T Flexi Bond Direct-G

    4.39%

    7.85%

    Quantum Dynamic Bond Direct-G

    2.77%

    7.74%

    Top 10 Debt - Liquid Funds

    The top 10 debt - liquid mutual funds in India (as of 15 November 2018) are as indicated below:

    Fund Name 1-Year Returns 3-Year Returns

    IDBI Liquid Direct-G

    7.39%

    7.30%

    BNP Paribas Liquid Direct-G

    7.38%

    7.28%

    Baroda Pioneer Liquid Direct-G

    7.44%

    7.42%

    DSP Liquidity Direct-Growth

    7.36%

    7.32%

    Franklin India Liquid Direct-G

    7.34%

    7.33%

    HSBC Cash Direct-G

    7.36%

    7.28%

    Edelweiss Liquid Direct-G

    7.39%

    7.03%

    Reliance Liquid Fund-Growth

    7.27%

    7.25%

    Sundaram Money Direct-G

    7.32%

    7.29%

    UTI Liquid Cash Inst Direct-G

    7.34%

    7.29%

    Top 10 Debt - Short Duration Funds

    The top 10 debt - short duration mutual funds in India (as of 16 November 2018) are as listed below:

    Fund Name 1-Year Returns 3-Year Returns

    Franklin India ST Income Direct-G

    7.19%

    8.70%

    Baroda Pioneer Short Term Bond Direct-G

    6.76%

    8.57%

    Indiabulls Short Term Direct-G

    7.05%

    8.23%

    DSP Short Term Direct Plan-Growth

    5.08%

    7.41%

    Aditya Birla SL Short Term Opportunities Direct-G

    5.67%

    8.21%

    ICICI Pru Short Term Direct-G

    5.44%

    8.18%

    DHFL Pramerica Short Maturity Direct-G

    5.33%

    8.17%

    BOI AXA Short Term Income Direct-G

    5.68%

    8.08%

    Principal Short Term Debt Direct-G

    5.56%

    7.76%

    Axis Short Term Direct-G

    5.75%

    7.75%

    Top 10 Debt - Medium Duration Funds

    The top 10 debt - medium duration mutual funds in India (as of 16 November 2018) are as listed below:

    Fund Name 1-Year Returns 3-Year Returns

    SBI Magnum Medium Duration Direct-G

    5.55%

    9.84%

    Axis Strategic Bond Direct-G

    6.03%

    8.76%

    Franklin India Income Opportunities Direct-G

    7.12%

    8.71%

    DSP Bond Direct-Growth

    3.63%

    7.35%

    Kotak Medium Term Direct-G

    4.77%

    8.52%

    Reliance Strategic Debt Direct-G

    4.52%

    8.44%

    UTI Medium Term Direct-G

    4.94%

    8.26%

    Aditya Birla SL Medium Term Direct-G

    5.07%

    8.25%

    Indiabulls Income Direct-G

    8.43%

    7.99%

    ICICI Pru Medium Term Bond Direct-G

    4.78%

    7.98%

    Top 10 Debt - Medium to Long Duration Funds

    The top 10 debt - medium to long duration funds as of 18 November 2018 are as listed below:

    Fund Name 1-Year Returns 3-Year Returns

    ICICI Pru Advisor Series-Debt Management Direct-G

    6.05%

    8.19%

    SBI Magnum Income Direct-G

    3.78%

    7.97%

    UTI Bond Direct-G

    2.32%

    7.26%

    IDFC Bond Income Direct-G

    3.68%

    7.25%

    Canara Robeco Income Direct-G

    4.02%

    7.08%

    Reliance Income Direct-G

    3.30%

    7.07%

    Aditya Birla SL Income Direct-G

    2.99%

    6.94%

    Tata Income Direct-G

    2.42%

    6.69%

    Kotak Bond Direct-G

    3.04%

    6.45%

    HDFC Income Direct-G

    1.72%

    6.22%

    Top 10 Debt - Gilt Funds

    The top 10 debt - gilt mutual funds in India (as of 16 November 2018) are as listed below:

    Fund Name 1-Year Returns 3-Year Returns

    Reliance Gilt Securities Direct-G

    4.98%

    9.20%

    ICICI Pru Gilt Direct-G

    4.35%

    8.35%

    Aditya Birla SL Government Securities Direct-G

    2.79%

    8.22%

    Canara Robeco Gilt Direct-G

    2.78%

    8.12%

    L&T Gilt Direct-G

    3.96%

    7.93%

    SBI Magnum Gilt Direct-G

    2.34%

    7.81%

    UTI Gilt Direct-G

    3.06%

    7.77%

    Kotak Gilt Inv Direct-G

    3.73%

    7.60%

    DSP Government Securities Direct-G

    3.89%

    7.50%

    IDFC GSF Investment Direct-G

    3.96%

    7.49%

    Top 10 Hybrid - Dynamic Asset Allocation Funds

    The best performing hybrid - dynamic asset allocation funds as of 18 November 2018 are as listed below:

    Fund Name 1-Year Returns 3-Year Returns

    Aditya Birla SL Balanced Advantage Direct-G

    2.95%

    12.79%

    HDFC Balanced Advantage Direct-G

    -1.69%

    11.85%

    HSBC Dynamic Asset Allocation Direct-G

    3.75%

    10.89%

    ICICI Prudential Balanced Advantage Direct-Growth

    3.92%

    10.60%

    Reliance Balanced Advantage Direct-G

    3.21%

    10.82%

    SBI Dynamic Asset Allocation Direct-G

    10.79%

    10.77%

    Invesco India Dynamic Equity Direct-G

    -2.18%

    10.43%

    DSP Dynamic Asset Allocation Fund Direct-Growth

    4.25%

    8.50%

    Franklin India Dynamic PE Ratio FoF Direct-G

    5.31%

    9.87%

    L&T Dynamic Equity Direct-G

    5.16%

    7.17%

    Top 10 Hybrid - Conservative Hybrid Funds

    The best performing hybrid - conservative hybrid funds as of 18 November 2018 are as listed below:

    Fund Name 1-Year Returns 3-Year Returns

    SBI Magnum Children’s Benefit Fund Direct

    4.49%

    14.84%

    ICICI Pru Advisor Series-Thematic Direct-G

    1.60%

    10.94%

    DSP Regular Savings Direct Plan-Growth

    -1.86%

    6.45%

    Tata Retirement Savings Conservative Direct-G

    2.35%

    9.84%

    Aditya Birla SL Regular Savings Direct-G

    -1.10%

    9.71%

    Kotak Asset Allocator Direct-G

    4.73%

    9.59%

    Axis Hybrid Series 24 Direct-G

    7.22%

    9.50%

    BNP Paribas Conservative Hybrid Direct-G

    4.45%

    9.43%

    DHFL Pramerica Hybrid Debt Direct-G

    6.63%

    9.18%

    Franklin India Life Stage FoF 40s Direct-G

    2.20%

    8.55%

    Top 10 Hybrid - Aggressive Hybrid Funds

    The most popular hybrid - aggressive hybrid funds as of 18 November 2018 are as listed below:

    Fund Name 1-Year Returns 3-Year Returns

    Principal Hybrid Equity Fund Direct-Growth

    0.45%

    15.28%

    Mirae Asset Hybrid Equity Direct-G

    4.43%

    14.45%

    Tata Retirement Savings Moderate Direct-G

    -0.11%

    13.84%

    ICICI Pru Equity & Debt-G

    0.78%

    12.13%

    Sundaram Equity Hybrid Direct-G

    6.83%

    12.10%

    HDFC Hybrid Equity Direct-G

    -0.36%

    11.86%

    Reliance Equity Hybrid Direct-G

    -1.26%

    11.07%

    Canara Robeco Equity Hybrid Direct-G

    4.66%

    11.06%

    ICICI Pru Child Care Gift Direct

    5.09%

    11.03%

    DSP Equity & Bond Direct-Growth

    -1.41%

    10.34%

    Top 10 Hybrid - Arbitrage Funds

    The best performing hybrid - arbitrage funds as of 18 November 2018 are listed below:

    Fund Name 1-Year Returns 3-Year Returns

    Axis Arbitrage Direct-G

    7.20%

    7.04%

    Reliance Arbitrage Direct-G

    7.56%

    6.99%

    Edelweiss Arbitrage Direct-G

    6.93%

    6.96%

    ICICI Pru Equity Arbitrage Direct-G

    7.01%

    6.91%

    Indiabulls Arbitrage Direct-G

    6.53%

    6.88%

    Kotak Equity Arbitrage Direct-G

    6.98%

    6.85%

    L&T Arbitrage Opportunities Direct-G

    6.93%

    6.83%

    IDFC Arbitrage Direct-G

    7.15%

    6.78%

    Aditya Birla SL Arbitrage Direct-G

    6.76%

    6.73%

    Invesco India Arbitrage Direct-G

    6.85%

    6.70%

    What are mutual funds?

    Mutual Funds are professionally managed investment schemes. They represent a pool of funds that are professionally managed by expert Mutual Fund managers. The fund managers keep a record of the performance and growth of these funds and make required alterations so that the funds perform well and the investors receive the best possible returns.

    Mutual Funds are controlled by an Asset Management Company (AMC) that collects funds from a group of investors and invest these funds in bonds, stocks, and securities. When you purchase units of a Mutual Fund, these units denote the holdings of your share in a certain fund scheme. You can purchase or even redeem a Mutual Fund at the prevailing Net Asset Value (NAV).

    We have elaborated on the best-performing schemes based on categories in the sections below. More often than not, schemes from a specific category will perform the best each season. This could confuse a novice investor and bring about doubts on whether his/her investments were made in the most suitable funds.

    In order to get healthy returns from mutual fund investments, it is advisable to keep the following points in mind:

    • Do not start new SIPs targeting short-term gain. Continue on the SIP for a minimum period of 5 years to see substantial returns.
    • Do not stop your existing SIPs when the returns are low.
    • Opt for growth option of mutual funds for increased returns through compounding.
    • Do not put lump sum amounts in peak performing equity mutual funds for short-term gains by capitalising on the bull run. It should be noted that the bull run may reverse any time and you may not get the chance to exit the fund with significant gains. In fact, you may have to book losses instead. Hence, you should invest a lump sum amount in equity mutual funds only after the markets correct from their peaks.
    • It is not advisable to move from debt funds to fixed deposits (FDs) for assured returns. This is primarily because the complete interest earned from FDs get added to the taxable income of the individual and is taxed as per his/her tax slab. This effectively means that the people in the highest tax bracket will get low returns from fixed deposits. On the other hand, there are significant tax savings on debt funds that are held for a duration of 3 years or more.

    Different types of Mutual Funds:

    • Debt funds: A debt fund is a type of Mutual Fund that invests in fixed-income securities. Under this fund, your money will be invested in short-term bonds, long-term bonds, securitised funds, floating rate debt, and money market instruments.
    • Equity funds: An equity fund is a type of Mutual Fund that invests money primarily in stocks. There are both actively or passively managed funds.
    • Equity linked savings schemes: This is an equity Mutual Fund that is close-funded in nature. It helps you save taxes and also helps you grow your wealth. You can enjoy tax deductions as per the Income Tax Act under Section 80C.
    • Diversified funds: This type of Mutual Fund allows you to invest your money in diverse sectors or industries. You can spread your investments across various industries in the market.
    • Gilt funds: These funds allocate money to securities that are offered by the state and central governments. These funds come without any default risk.
    • Index funds: Under this category of Mutual Funds, your money will be invested according to how a stock market index functions. The NAV for these funds will be closely follow the rise or fall in the index.
    • Liquid Mutual Funds: Liquid Mutual Funds are investment plans that will allocate funds primarily to money market instruments such as treasury bills, term deposits, certificate of deposits, commercial papers, etc. These funds come with a lower maturity period.
    • Debt-oriented hybrid funds: Under this category of Mutual Funds, your money will be primarily invested in debt and the remaining part will be invested in equity. It is a blend of both debt and equity investment.
    • Arbitrage funds: These funds are treated as equity plans for taxation purposes. These funds invest both in the cash market and the derivatives market.
    • Dynamic bond funds: Your money will be invested in debt and money-market instruments. The maturity of the fund will vary according to the investments that it makes.

    The number of Mutual Funds made available to the general public has increased significantly over the past few years. As a result, you now have an impressive number of options to choose from, and regardless of which category you wish to invest in, following are the top 10 Mutual Funds in various categories, as rated by CRISIL.

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      Mutual funds are investment schemes in which asset management companies collect money from various investors and invest in market instruments by diversifying the risks. If you are looking to invest in mutual funds, you should be aware of the objectives of the shortlisted fund, costs associated with the investment, and the overall process of investing. The importance of reviewing your investment portfolio on a regular basis and making the necessary changes cannot be overlooked. This page gives you an insight on the investment process and how you can go about making the right decisions in your investment journey. Read More..

    • Documents required for mutual fund purchase

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      This page discusses the documents that are necessary to invest in mutual funds in India. Documents for KYC compliance, the mutual fund application form, ID and address proof, and other relevant documents are listed here. Read More...

    • Investing in mutual funds for a retirement corpus

      In India, the most popular retirement plans are small savings schemes such as Employee Provident Fund (EPF), National Savings Certificate (NSC), and Public Provident Fund (PPF). The investment-savvy professional would have an account in any one (or more) of these schemes throughout their employment years.

      With the gaining popularity of mutual funds as an investment channel, one should seriously consider investing in the same for creating a substantial retirement corpus. Apart from being convenient, mutual fund investments allow you to prepare for any type of investment goal. If you are able to take some risk during your employment years, you can invest in equity-based mutual funds that provide high returns - much higher than what you would save through small savings schemes. Read More...

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    About Kavya Balaji

    A personal finance professional with over 10 years of experience in financial research. She believes financial literacy is important and is passionate about sharing her knowledge on the subject.

    News About Mutual Funds

    • NBFC sector unlikely to receive funds from the RBI

      The NBFC (Non-Banking Financial Company) sector is unlikely to see any injections of funds by the Reserve Bank of India (RBI) despite the crisis faced by the sector. As per the Deputy Governor of RBI, Mr. Viral Acharya, the central bank has already taken up various measures to ease the funding stress over the past two months and sanctioned the collection of long-term funds by the finance companies. Mr. Acharya has revealed that the RBI is working with the Securities and Exchange Board of India (SEBI) to keep an eye on the money markets over the concerns over the NBFCs.

      The Deputy Governor has revealed that the RBI is also tracking mutual fund investments and watching over the market developments since August end. The central bank has been in constant touch with the SEBI to evaluate the rollover risks for NBFCs and HFCs (Housing Finance Companies) and the fallout in the redemptions of mutual funds. Mutual funds shunned the NBFC papers in the wake of the defaulting of the Infrastructure Leasing & Financial Services (IL&FS).

      7 December 2018

    • SBI MF launches its first Artificial Intelligence-powered voice assistant

      An artificial intelligence-powered voice assistant has been launched by SBI Mutual Fund and this is the first time that the asset management firm has launched such a service. The voice assistant has been launched in collaboration with Google and has been developed by a Mumbai-based startup known as AllinCall Research and Solutions Private Limited. At the moment, the voice assistant can be accessed via any smartphone or device that has a Google Assistant.

      The official statement revealed that the bot has been created for the assistance of investors with information concerning multiple areas including the location of the nearest branch, basic product-related particulars, check the status of their KYC, usage of the SIP calculator, retrieving account statements, and to get in touch with the customer care department. SBI Mutual Fund had earlier launched a chatbot known as YUVA which has managed to handle more than 2 million queries till date.

      6 December 2018

    • ETF Investment Proportion in UTI Mutual Funds Likely to be Increased

      The Employees' Provident Fund Organisation (EPFO) is planning to increase the fund allocation to its exchange traded fund manager UTI Mutual Funds since it has been generating better returns compared to SBI Capital on ETF investment by the pension fund. Currently, around 75% of the ETF investments of the EPFO are handled by SBI Capital. On the other hand, the remaining 25% of the ETF investments by the retirement fund body is managed by UTI Mutual Funds. According to a source, the agenda of the apex decision making body of the EPFO - the Central Board of Trustees (CBT) headed by the labour minister, contains the proposal to increase the proportion of funds for ETF investments of EPFO through UTI Mutual Funds. The source has also revealed that the UTI Mutual Funds has been offering better returns to the EPFO on its ETF investments compared the other ETF manufacturer, SBI Capital. Hence, the EPFO is looking to increase the proportion of the funds for such investment for the UTI Mutual Funds.

      Presently, the EPFO has so far invested more than Rs.550 billion in the ETFs. In line of the investment pattern followed by the EPFO, the organisation can invest 5% to 15% of its total yearly investable deposits in equity or equity-linked scheme. The total investable deposit of the body per year amounts to approximately Rs.1.5 trillion.

      5 December 2018

    • Metropolis Healthcare, Inventia, and Xelpmoc Design receive approval from SEBI to launch IPO

      The Securities and Exchange Board of India (SEBI) has given a nod for the launch of IPOs (Initial Public Offerings) by 3 companies. The companies who had submitted an application to the SEBI for launching IPOs are Xelpmoc Design and Tech, Inventia Healthcare, and Metropolis Healthcare. With this, the number of companies who received approval from SEBI to launch IPOs this year has touched 73. According to the latest update from SEBI, Xelpmoc Design was given ‘observations’ on 20 November 2018 from the market regulator while the same was obtained by Metropolis Healthcare and Inventia Healthcare on 22 November 2018.

      The draft documents for the IPO was submitted by these companies to SEBI in the period from August to September. It is mandatory for companies to obtain ‘observations’ from SEBI in order to launch public issues such as IPOs, FPO (Follow-On Public Offer), and rights issue. As per the draft papers filed, the IPO of Inventia Healthcare will comprise fresh issuance of shares (equity) worth up to Rs.125 crore while the IPO of Metropolis Healthcare will see a sale of equity shares of up to 1,02,51,816 by CA Lotus Investments and up to 50,17,868 shares by Sushil Kanubhai Shah.

      4 December 2018

    • CPSE ETF Receives Rs.3,000 Crore on the First Day Itself

      The first day retail subscription of Reliance MF’s third further fund offer of its own Central Public Sector Enterprises ETF has been reported to have been close to Rs.3,000 crore. Approximately 95% of the day one investment in the CPSE ETF investment was from large and established insurance companies and retirement funds, according to an official.

      Furthermore, it is also expected that Reliance Mutual Fund targets will rise up to Rs.14,000 crore from the third follow upon the offer of CPSE ETF, which will further incorporate a base amount of Rs.8,000 crore. This fund is essentially a part of the Government’s overall disinvestment initiative which they announced earlier, via the ETF platform. An upfront discount of 4.5% is currently being offered by the Government to investors belonging to all the categories and classifications.

      The anchor investor book of the ETF previously received a total subscription of Rs.13,000 crore against a book size of Rs.2,400 crore. It was oversubscribed by 5.57 times with around 65% of the investment coming in from foreign institutional investors, as the issue had previously opened for institutional investors.

      Among all the prominent investors, Societe Generale, Bank of America Merrill Lynch, Morgan Stanley, Nomura, ICICI Pru MF, LIC and SBI MF were included.

      3 December 2018

    • Danesh Mistry of Tata AMC to lead the PMS division of the firm

      Private asset management firm, Tata Mutual Fund has appointed Mr. Danesh Mistry to lead its PMS (Portfolio Management Services) division which will be effective immediately. The fund house has recently stiffened its PMS division and will concentrate on a niche client segment by customising portfolios. Mr. Mistry has been working with Tata Asset Management for over 9 years where he started off as a research analyst and then moved on to become a fund manager in the company. He was responsible for managing multiple equity schemes. Overall, Mr. Mistry has more than 16 years of experience across the domains of mortgage, fund management, equity research, and investment banking. Before joining Tata Asset Management, he had worked with ENAM Securities and HDFC. Tata Asset Management manages assets worth Rs. 54,824.12 crore as on Sep 2018.

      30 November 2018

    • Number of mutual fund folios touch 8 crore record high

      The rising interest of investors in mutual funds has resulted in the addition of around 77 lakh new folios in the initial 7 months of the current year. The industry recorded a record high of nearly 8 crore total folios at the end of October. This is after an addition of 1.6 crore accounts in the fiscal 2017-18, more than 67 lakh folios in the 2016-17 fiscal, and 59 lakh in 2015-16. The folios of equity and ELSS (equity-linked savings scheme) increased by 66 lakh to touch 6 crore. There was a surge of 4.4 lakh in the balanced category to touch 63 lakh folios.

      Folios are numbers assigned to individual investor accounts though multiple accounts can be held by a single investor. As per the data from the Association of Mutual Funds in India (AMFI), the mutual fund industry touched a record high of 7,90,31,596 at the end of October 2018 from the previous 7,13,47,301 at the end of March 2018. During the period between April 2018 to October 2018, the total inflows experienced by the industry was recorded at Rs.81,000 crore.

      29 November 2018

    • Indian Mutual Fund Industry May not be Consolidated, According to Official

      According to Mumbai based PPFAS Mutual Fund senior official, consolidation and mergers may remain a distant idea after the regulation of the market director of multiple reclassification of schemes.

      Further, he added that the cash-plus-arbitrage holding of his company is gradually reducing. He further added that while some of the existing players of the market are moving out of the game, various new ones are coming in. The official further emphasised on the PPFAS’ strategy of maintaining enormous cash holdings as opposed to stock investments. The reason for this, he further added, was the inevident volatility of the stock market, wherein it was thought to be a prudent move to invest in cash instead of stocks.

      28 November 2018

    • New equity hybrid fund launched by Indiabulls Mutual Fund

      A new fund offer (NFO) will be launched by private equity firm, Indiabulls Mutual Fund. The fund will be known as Indiabulls Equity Hybrid Fund and it is an open-ended hybrid scheme that will allocate its investments to equity and its related securities. Under the equity portfolio, the NFO will take sector exposure while under the debt portfolio, it will take duration call which is dependent on the CAD (Current Account Deficit) levels, the key economic indicator.

      The subscriptions for the NFO will be open till 6 December 2018. The equity markets recently saw a correction phase with a fall in the price-earnings ratio of 25 during the month of October from 28.40 in August. There was an increase in the yield of 10-year benchmarks from 6.94% in November 2017 to 7.85% in October 2018. The fund will also allocate a part of its investments in securities that have been rated AA and above. The fund will be actively managed.

      27 November 2018

    • Bid for IDFC’s broking unit made by Axis Capital and Edelweiss top executives

      Top executives from Axis Capital and Edelweiss Securities have made a bid for IDFC’s brokerage and investment banking division (IBD). These were made by the CEO and MD of Axis Capital, Dharmesh Mehta, and the former CEO of Edelweiss Securities, Vikas Khemani. IDFC decided to sell non-core assets after merging with Capital First, a non-banking finance company. It is likely that this may fetch more than Rs.500 crore for the company.

      23 November 2018

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