PGIM India mutual fund: PGIM looks for domestic AMC acquisition to grow faster

Prudential Global Investment Managers (PGIM), which has set a target of being among the top 10 fund houses over the next five years in the country, is looking for an acquisition to drive its mutual fund business here, a top company official has said. With a mutual fund AUM of …

Read morePGIM India mutual fund: PGIM looks for domestic AMC acquisition to grow faster

UTI AMC IPO: UTI AMC raises Rs 644.64 cr from 67 anchor investors ahead of the IPO

UTI Asset Management Company Limited, the second largest asset management company in India in terms of Total AUM, allotted 1,16,36,124 equity shares to 67 anchor investors and raised Rs 644.64 crore ahead of the company’s proposed IPO at an upper price band of Rs 554 per equity shares. The anchor …

Read moreUTI AMC IPO: UTI AMC raises Rs 644.64 cr from 67 anchor investors ahead of the IPO

Franklin asks unitholders not to believe unsubstantiated rumours

Franklin Templeton President Sanjay Sapre has asked unitholders not to believe unsubstantiated rumours and baseless accusations made by CFMA . “The press release issued by CFMA citing the FIR, is replete with various misleading and baseless allegations, besides being inappropriate, as the matter is currently subjudice. We are not aware …

Read moreFranklin asks unitholders not to believe unsubstantiated rumours

RBI says MPC meet rescheduled; new dates to be announced soon

Mumbai: The Reserve Bank of India (RBI) on Monday said the meeting of the Monetary Policy Committee (MPC) that was scheduled to start on Tuesday is being rescheduled, and the new dates will be announced shortly. The central bank did not provide any reason for such rescheduling. However, the reason …

Read moreRBI says MPC meet rescheduled; new dates to be announced soon

large cap funds: Principal Asset Management launches large cap fund

Principal Asset Management has launched the Principal Large Cap Fund. The NFO is open for subscription from 28th September to 12th October. According to the SID, the fund will allocate 80-85% of its corpus to the top 100 Indian large cap stocks and actively invest up to 15% in US …

Read morelarge cap funds: Principal Asset Management launches large cap fund

Mirae Asset mutual fund: Mirae Asset launches ultra short duration fund

Mirae Asset Investment Managers India has announced the launch of ‘Mirae Asset Ultra Short Duration Fund’. According to the fund house, the debt fund is suitable for investors looking at making investments for a short period of 3 to 6 months. The NFO is open and will close for subscription …

Read moreMirae Asset mutual fund: Mirae Asset launches ultra short duration fund

Tata Mutual Fund launches “contact-less” on boarding for first time investors

Tata Mutual Fund has launched “contact-less on boarding” for first time investors in mutual funds. This process will make the account opening experience paper-less. It empowers the investor to open an account without waiting for anyone to show up at the door, a press release the from the fund house …

Read moreTata Mutual Fund launches “contact-less” on boarding for first time investors

Axis Global Alpha Equity Fund of Fund NFO mobilises Rs 1,200 crore

The new fund offer of Axis Global Alpha Equity Fund of Fund has mobilised Rs 1200 crore with about 70,000 applications. The new fund offer closed on September 18 and it will reopen for subscriptions from September 29. Financial planners believe the need for geographical diversification is one of the …

Read moreAxis Global Alpha Equity Fund of Fund NFO mobilises Rs 1,200 crore

Sebi plans a slew of measures to tackle issues of debt MFs

Mumbai: The Securities and Exchange Board of India (Sebi) is planning to bring in a slew of measures for debt mutual funds including stress testing, minimum asset allocation in liquid assets and liquidity risk management, aimed at bringing in structural changes to the system. The regulator is also planning to …

Read moreSebi plans a slew of measures to tackle issues of debt MFs