CASH FUNDS
Canara Robeco Mutual Fund launches Balanced Advantage Fund
Canara Robeco Mutual Fund has launched Canara Robeco Balanced Advantage Fund, an open-ended dynamic asset allocation fund aiming to generate alpha when markets are doing well and reduce downside risk in times of bad market periods.
Why does China's central bank have a new cash management tool?
China's central bank unveiled a new cash management tool through temporary bond repo agreements and reverse repos, expanding its monetary policy framework. Market participants see these as crucial steps by the People's Bank of China (PBOC). The move aims to establish a new interest rate benchmark and manage risks amid a bond rally and yuan weakness.
Quant Mutual Fund had over Rs 9,000 crore cash pile to face redemption pressure after Sebi's investigation
Quant Mutual Fund, in the midst of a front-running investigation, holds substantial cash reserves. Financial Radiance recommends against hasty liquidation, highlighting potential market opportunities for investors.
Cash strapped Stability AI raises $80 million with new CEO and board
According to a person familiar with the matter, Stability AI has raised about $80 million in funding from a group of investors including Coatue Management, Lightspeed Venture Partners, and former Google CEO Eric Schmidt. The firm also released AI models to generate audio and video using text prompts and named former Facebook President Sean Parker as executive board chairman of its board.
Byju’s challenges NCLT order restricting fund use in Karnataka High Court
Byju’s faces protests from investors over $200 million rights issue conducted at 99% discount. Lenders within consortium loaned $1.2 billion to Byju’s file bankruptcy petition in US court.
These mutual fund houses were sitting with over Rs 10,000 crore cash in May
Around four mutual fund houses had cash allocations of more than Rs 10,000 crore in their portfolio as of May 2024. Here is the break-up, according to data from ACE MF.
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Mutual funds were sitting with Rs 1.42 lakh crore cash just before election results
Mutual funds held Rs 1.42 lakh crore cash before election results, up from Rs 1.36 lakh crore in April. Cash as a percentage of total AUM was 4.67% in May. Total equity AUM increased by Rs 32,936 crore from April to May, with SBI Mutual Fund holding the most cash.
Top funds houses held low cash levels during run-up to general elections
To a great extent, preparing an investment strategy well before general elections determines how a fund manager outperforms in a volatile phase resulting after the election results are out.
IMF lauds Sri Lanka for strong progress
Sri Lanka's macroeconomic policy reforms are showing positive results as the IMF anticipates agreements with external commercial creditors soon, signaling progress towards the country's $2.9 billion bailout program. The International Monetary Fund praised Sri Lanka's advancements in debt restructuring, highlighting the nation's strong efforts in addressing its financial challenges.
Prosus stake in Byju’s worth zero: HSBC
This comes at the time of Byju's controversial $200 million right issue at 99% discount to its peak valuation of $22 billion, meaning any investor not investing in the rights issue will see its holding wiped off.
How Unacademy board tweaked targets for founders’ voting rights
Edtech unicorn Unacademy has changed the target for its cofounders Gaurav Munjal and Hemesh Singh to access additional voting rights through bonus shares issued to them in 2022. Industry sources said this move throws light on Unacademy’s changing ambitions as well as the broader sluggishness in the startup funding ecosystem.
Oyo posts maiden annual net profit of Rs 100 crore in FY24: founder Ritesh Agarwal
Oyo reported its first profitable fiscal year in 2023-24 with a net earning of nearly Rs 100 crore. Founder Ritesh Agarwal highlighted growth prospects in key markets like Nordics, South East Asia, US, and UK. Fitch Ratings upgraded Oyo's credit rating, acknowledging its strong performance.
Lesson for entrepreneurs: What are the common mistakes startup founders make and how to avoid them?
India has the third largest startup ecosystem in the world, with 1.17 lakh entities (DPIIT), nearly 1,710 venture capital funds, 794 accelerators and incubators (Tracxn), and several government initiatives like Startup India. Despite this fervour and support, financial and otherwise, the startup journey is extremely difficult.ET Wealth lists the typical mistakes most founders make and tell you how to tackle these
Govt's cash balance surges, banks starve
The ongoing general elections have led to a surplus in government cash balances, impacting the banking sector due to reduced spending. The Centre's adoption of efficient fund management practices has resulted in over ₹3 lakh crore in cash balances, affecting borrowing costs and liquidity in the market.
Apple not the only company to grapple with cash payments in India; cash also figures prominently in car sales
With customers continuing to stream in with wads of notes to buy mobile phones or computers, payments for 7-9% of the American firm's sales in the two stores in India are made with cash, compared to less than 1% or even nil in its stores in the US or Europe, according to people with knowledge of the matter.
Sebi moots relaxation in valuation norms for alternative investment fund
Capital markets regulator Sebi on Thursday proposed providing relaxation on the framework pertaining to valuation of investment portfolio of alternative investment fund (AIF).
Smallcap-based PMS funds held 21.25% of their portfolios in cash; here’s the breakdown
Funds keep cash in their portfolios to repay investors in case they liquidate their investments or any good investment opportunities arise. Here is the breakdown of how much cash different categories of PMS funds were holding in their portfolios, according to the data by Finalyca.
Nvidia rallies nearly 500% in 18 months. Take a look at 15 Indian MFs that own it
Around 8 MFs had an exposure of less than Rs 100 crore. SBI Mutual Fund, the largest fund house based on assets managed, had a total exposure of Rs 49 crore. Bandhan Mutual Fund had the lowest exposure of Rs 23 crore as of April 2024.
Sebi proposes relaxation in valuations of AIFs' investment portfolio
These easing of norms relate to change in valuation methodology on material change, computing valuation of investment portfolio of AIFs, eligibility criteria of independent valuers to be appointed by AIFs and timeline for reporting valuation of investment portfolio by AIFs to performance benchmarking agencies.
With Ukraine losing ground, allies debate how to squeeze cash for Kyiv out of frozen Russian assets
Ukraine's allies are debating how to use frozen Russian assets to support Kyiv's war effort amid Russia's territorial gains. The issue of $260 billion in Russian assets frozen abroad is a key concern at the G7 meeting in Italy.
Max Healthcare to widen reach via acquisitions, says Abhay Soi
Max Healthcare, a leading Indian hospital chain, is assessing acquisition opportunities in tier-2 and tier-3 cities, primarily funded through internal accruals and debt. The company's chairman and managing director, Abhay Soi, believes there is great opportunity in these areas. Max Healthcare currently has a presence in Mohali, Bathinda, Dehradun, Lucknow, and Nagpur. The company is comfortable raising debt funding of up to 2.5 times the earnings before interest, tax, depreciation, and amortisation (EBITDA) if there are compelling acquisition opportunities.
Liquidity deficit surges to four-month high
The shortfall of funds has pushed up the weighted average call rate (WACR), which represents banks' overnight cost of borrowing and functions as a determinant of other borrowing costs in the economy too. On Wednesday, the WACR closed at 6.75%, the same rate as the RBI's Marginal Standing Facility (MSF).
Cash flow struggles, access to finance continue to be major barriers for India’s small businesses: CPA Australia survey
On access to finance, the survey revealed that 42% of respondents said it was easy to seek funds in 2023, a sharp decline from 69% in 2022.
These 10 mutual funds together held over Rs 1 lakh crore cash in April
Around 42 mutual funds were sitting on Rs 1.36 lakh crore cash in April, according to data by ACE MF. Here are the top 10 mutual funds that had the highest cash holding.
ASK Property Fund exits from Naiknavare’s Pune project with 21% IRR, 2x multiple
ASK Property Fund exits Rs 156 crore investment from Pune's Naiknavare Developers' Avon Vista project with 21% IRR and plans for more investments in Pune and Mumbai.
Metal, PSU & pharma to lead market; FMCG showing signs of bottoming out: Sandeep Tandon
Sandeep Tandon identifies metal, pharma, PSU as emerging market leaders. Recommends buying dips for growth potential. Holds significant positions in Jio, Reliance, and Adani Power. Tandon says: "India tended to suffer a bit from a very near term or short term perspective, but from a long-term perspective, I think India is a structural bull run story for them also."
India is a buy-on-dips market; we have raised a lot of cash unlike in ‘14 & ‘19 elections: Sandeep Tandon
Sandeep Tandon of Quant Mutual Fund analyzes market volatility, emphasizing buying on dips and sector rotation. He discusses India's unique asset class status and anticipates a ferocious market correction with sector resurgences.
Indus Towers confident of cash flow boost in FY25
Indus Towers expects cash flows to improve in FY25 as it’s confident of quickly recovering its backlog of past dues from key customer, Vodafone Idea (Vi), especially as the latter has recently raised Rs 18,000 crore via the follow-on public offer (FPO) route.
These 7 mutual funds held over Rs 5,000 crore cash in March
At the end of March, the total cash holding of all equity-based mutual funds stood at Rs 1.33 lakh crore, at 4.71%. Here is the list of seven mutual funds who were sitting on over Rs 5,000 crore cash pile, according to data by ACE MF.
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