FOLIOS
Sebi suspects front-running at Quant MF, launches probe
Quant Mutual Fund is one of the fastest-growing funds with 80 lakh folios, small-cap scheme returned 68% in the last year, managing assets worth ₹93,000 crore.
Groww faces social media ire over allegations of false folio creation
A Groww user alleged fraud for money deducted without investment. Hanendra Pratap Singh on social media accused Groww of not investing in a mutual fund despite deduction, citing a false folio number. Singh later deleted the post but updated that Groww resolved the issue.
Groww offers user refund after allegations of fund deduction without investment emerge
A Groww user alleged that the platform deducted money without making an investment, prompting Groww to issue a refund and clarification. The company acknowledged an error in the user's dashboard and confirmed no transaction took place. They credited the claimed amount back to the user as a goodwill gesture and requested his bank statement for verification. Groww assured users of its commitment to resolving such issues promptly and transparently, emphasizing no money was deducted. An expert advised careful research before using newer investment platforms.
Quant Mutual Fund issues clarification on Sebi probe in front-running case
Sebi suspects that either a dealer from Quant or a broking firm through which the fund house places orders was leaking information about the trades. The regulator has conducted search and seizure operations in Quant's Mumbai headquarters and at the address of the suspected beneficiaries in Hyderabad.
Gold ETFs add over 1.36 lakh new folios in May, fastest in 60 months. AUM per folio 3rd best in 2 years
Gold ETF schemes added 136,772 folios in May, a 12.5% year-on-year increase. Investors are increasingly choosing Gold ETF mutual schemes for reasons like easy availability and low investment ticket size.
Multi asset allocation funds saw highest folio addition in May
The hybrid mutual funds have added around 1.67 lakh folios on a month on month basis from 1.36 crore in April to 1.38 crore in May. Here is the break up of folio addition in the hybrid mutual fund categories, according to data released by Prime Database.
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Children’s mutual fund AUM surge 142% in last 5 years to Rs 20,081 crore in May: ICRA Analytics
The AUM of children’s mutual funds surged by 142% in the last five years to reach Rs 20,081.35 crore in May. This growth is attributed to the disciplined savings habit enforced by the 5-year lock-in period, which encourages long-term investments for children's education.
Mutual funds industry adds 81 lakh new investor accounts in Apr-May FY25
The mutual fund industry has added over 81 lakh investors' accounts in the first two months of the current fiscal (FY25), mainly due to consistent marketing efforts, celebrity endorsements and dedicated work of the distribution network.
Sectoral/Thematic mutual funds’ AUM grows 80% YoY in May, folios rise 56%. What is brewing?
In May, investors showed significant interest in sectoral/thematic funds, injecting over Rs 19,200 crore in net inflows. This amount marks the highest among its 10 other equity-oriented mutual fund peers. Experts suggest that the increasing influence of this category stems from investors' attraction to themes promising higher growth potential.
Large, mid and smallcap stocks that mutual funds bought and sold in May
Mutual funds bought stocks worth Rs 477 billion in the Indian secondary market in May. They added largecap stocks like HDFC Bank, Kotak Mahindra Bank, Infosys, and reduced stakes in Bajaj Finance and Hindustan Aeronautics.
15 lakh new folios added in sectoral/thematic mutual funds in May
Around 15 lakh new folios added in sectoral/thematic mutual funds in May, as per AMFI data. Total equity mutual fund folios increased by 33.94 lakh. Small cap category added 4.29 lakh shares in May.
Sebi rules on nomination in mutual funds, demat accounts. 10 things to know
Sebi has announced simplification of compliance for investors by lifting freeze on demat accounts and mutual fund folios due to non-submission of nomination.
Demat, MF A/cs won't be frozen for not filing nomination
Sebi announced it won't freeze demat accounts and mutual fund folios for existing investors without nominations. New investors must provide mandatory nominations, ensuring smoother processes and compliance in the market.
Sebi junks rule to freeze Demat a/cs, MF folio rule for non-submission of nomination
The regulator said dividend, interest or redemption payment withheld presently by listed companies and registrar and transfer agents for want of nomination should be processed accordingly.
Demat and mutual fund accounts won't be frozen for not filing nomination: Sebi
In a circular, the markets regulator said, based on representations received from participants, for ease of compliance and investor convenience, non-submission of 'choice of nomination' shall not result in the freezing of demat accounts as well as MF folios. In a circular dated December 27, 2023, Sebi extended the deadline for submitting "choice of nomination" for demat accounts and mutual fund folios to June 30, 2024. Accounts and folios without nomination details by this date will be frozen for debits.
Mutual fund SIPs cross Rs 20,000 crore mark for second month
May saw a record-breaking surge in MF SIP contributions, hitting Rs 20,904.37 crore, a 3% rise from April and a significant increase from a year ago. MF SIP accounts reached 8,75,89,485, while MF folios hit 18,59,68,222. 49,74,400 new SIPs were added, with SIP AUM reaching Rs 11,52,801 crore.
Rs 15,000 crore gone! Check out 3 reasons why a weaker Modi 3.0 still won't scare FIIs
Around Rs 15,000 crore has been withdrawn by FIIs from India in the last four days amid election uncertainties, causing concern on Dalal Street about the impact of a weaker Modi 3.0 mandate on further outflows.
FPIs take out Rs 25,586 cr from equities in May on poll jitters, attractive valuations in China
GDP growth numbers released on Friday painted a very optimistic picture. Q4FY24 GDP growth came in at 7.8 per cent surpassing the 6.7 per cent expectation, while the full-year FY24 growth stood at 8.2 per cent
Mutual fund SIP inflows jumped over 2 times in Narendra Modi's second term as PM
According to the Association of Mutual Funds in India, the number of SIP accounts has more than tripled from 2.73 crore in June 2019 to 8.70 crore in April 2024, while the number of mutual fund folios has surged by 118% from 8.32 crore in May 2019 to 18.14 crore in April 2024.
Modi 2.0: Gold ETFs’ AUM jumps 565% to Rs 32,800 crore in 5 years, folios rise by 1,483%
Gold ETFs in India experienced a staggering 565% increase in assets under management (AUM) between June 2019 and April 2024, coinciding with the Modi government's second term. The surge in AUM, from Rs 4,930.44 crore to Rs 32,789 crore, correlates with a 1,483% rise in folios, indicating growing investor interest. This uptick is driven by factors like perceived safety, attractive returns, and the convenience offered by ETFs.
Equity mutual fund folios increase by 2.2% in April
Total equity mutual fund (MF) folios (open-ended) as of April 30, 2024, stood at 12.55 crore, a 2.2% uptick. The category added 27.31 lakh folios in April, according to Geojit.
Buy Apple iPad for just Rs 30,000 with special bank discounts: Check offers, eligibility, specs
Croma is offering the Apple iPad 10th generation at a discounted price of Rs 30,000 for ICICI and SBI credit card holders, down from the listed price of Rs 33,900. Key features of this model include a sleek flat-edge design, 5G support, a Type-C port, a 10.9-inch display with slim bezels, a 12-megapixel rear camera, and an A14 Bionic chipset. The device is compatible with the Magic Keyboard Folio and supports regular software updates.
Gold folio additions surge in April even as smart investors book profits
The assets under management (AUM) of gold ETFs rose by 43% YoY to a record Rs 32,789 crore while the total folio count reached 51 lakh, the data from Association of Mutual Funds in India (AMFI) showed. The total inflow in the past 12 months was Rs 5,248 crore.
3% mutual fund accounts have ‘KYC Hold’ status: AMFI
After mutual fund KYC (know your customer) rules came into effect from April 1, around 3% of MF accounts have ‘KYC Hold’ status, stated the Association of Mutual Funds of India (AMFI) on Thursday.
Mutual fund SIPs cross Rs 20,000 crore milestone, doubling in less than 2 years
The monthly SIP contribution has doubled from Rs 10,000 crore in September 2022 to Rs 20,000 crore in about one-and-a-half years. The number of MF SIP accounts stood at the highest ever at 8.70 crore in April 2024 versus to 8.39 crore in March 2024.
What are the benefits of adding a nominee?
The new deadline is June 30, 2024. Investors need to have a nomination in place for their mutual fund schemes held in their folios or opt out of it by this date.
Sebi makes nomination optional for joint mutual fund portfolios
"Accordingly, it has been decided that the requirement of nomination ....for mutual funds shall be optional for jointly held mutual fund folios," the Securities and Exchange Board of India (Sebi) said in a circular.
Hybrid mutual funds stage comeback; see Rs 1.45 lakh crore inflows driven by arbitrage investments
"Anticipating a reversal in the interest rate hike cycle in FY24, market participants strategically allocated funds to capitalize on higher rates, while continuing a favourable stance towards equities, real estate, and gold. However, the rate cuts never materialized and bond yields continue to be higher, retaining the interest of investors," Gopal Kavalireddi, Vice President - Research at FYERS, said.
Share of women mutual fund folios and assets in B-30 cities reflects growth: AMFI report
The report titled ‘Mutual Growth’ underscores significant strides women have made in mutual fund participation. The report is backed by recent industry insights from AMFI data, curated by CRISIL.
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