FUNDING NEWS
Sensex at 80,000: Why mutual fund investors need to tone down expectations
Sensex reaches 80,000 milestone, prompting mutual fund investors to reassess equity allocation. Experts recommend diversification and systematic investment plans for navigating market fluctuations.
Best large & mid cap funds to invest in July 2024
As per the Sebi mandate, large & mid cap schemes are open-ended equity schemes that invest a minimum of 35% of total assets in large cap companies, and a minimum of 35% of total assets in mid cap stocks.
These 5 equity mutual funds have more than Rs 1,500 NAV. Here is the performance
Around 5 equity mutual funds have crossed Rs 1,500 NAV, according to ata by ACE MF. Three flexi cap and two mid cap funds featured on the list. Here is how these equity mutual funds have fared since their inception.
Two sectoral, thematic mutual funds offer over 35% return so far in 2024
Two sectoral/thematic mutual fund categories delivered more than 35% return in 2024 so far, an analysis by ETMutualFunds showed.
SBI Contra Fund turns Rs 10,000 monthly SIP to Rs 7 crore in 25 years
SBI Contra Fund marks 25 years with impressive returns, outperforming its benchmark consistently. Managed by Dinesh Balachandran and Pradeep Kesavan, the fund offers a diversified portfolio for long-term capital appreciation. With assets of Rs 34,366 crore, it caters to investors seeking a contrarian investment strategy.
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These unlucky 13 equity mutual funds lost upto 20% in the first half of 2024
In the first half of 2024, 13 international equity mutual funds had negative returns. HSBC Brazil Fund lost 19.65%, Mahindra Manulife Asia Pacific REITs FOF 14.27%, Kotak International REIT FOF 8.71%, Mirae Asset Global Electric & Autonomous Vehicles ETFs FoF 8.11%, DSP World Agriculture Fund 4.27%, DSP World Energy Fund 3.42%, DSP World Mining Fund 1.
Best small cap mutual funds to invest in July 2024
Small cap schemes invest in very small companies or their stocks. According to the Sebi mandate, small cap schemes must invest in companies that are ranked below 250 in terms of market capitalisation. These schemes also will have to invest at least 65% in small cap stocks.
Sebi allows passive funds to invest in listed securities of sponsor's group companies beyond 25%
Earlier, mutual fund schemes were not allowed to invest more than 25 per cent of their net asset value (NAV) in group companies of the sponsor.
7 equity mutual funds offer over 20% return in both three and five years
Around seven equity mutual funds have offered more than 20% return based on daily rolling returns in the last three and five years, according to the data from ACE MF.
These 3 smallcap mutual funds contributed 61% to total inflows in six months
Around three smallcap mutual funds have contributed 61% to the total inflows in the last six months (December 2023 to May 2024), according to a report by ICICI Direct Research.
NFO Tracker: These 8 new mutual funds are open for subscription now
Around eight new mutual fund NFOs are open for subscription this week, according to the data from ACE MF.
Quant Mutual Fund raises bet on HDFC Bank shares, top holding in most schemes
Geojit Financial Services' Dr. V K Vijayakumar anticipates HDFC Bank's augmented Nifty weight to fuel additional delivery based buying, boosting the stock under active funds' support.
Aditya Birla Sun Life Quant Fund NFO collects over Rs 2,400 crore
Aditya Birla Sun Life Quant Fund's NFO raised Rs 2,416 crore, attracting 1,23,762 investors. It's an open-ended equity scheme based on Quant themes. NFO ran from June 10-24, with allotment on June 28 and reopening for subscription on July 1.
Best mid cap mutual funds to invest in July 2024
Mid cap schemes invest in mid cap stocks or in stocks of medium-sized companies. As per Sebi norms, mid cap schemes are mandated to invest in companies that are between 101 and 250 in the market capitalisation. These companies can be leaders of tomorrow. That’s what makes them great bets. If these companies live up to the promise, the market will reward the investors handsomely.
These 5 mid cap mutual funds offer over 35% SIP returns in five years
Around five mid cap funds have offered more than 35% return on SIP investments in the last five years. There were around 23 mid cap funds in the said period.
Kotak Mutual Fund resumes subscription in Kotak Small Cap Fund
The fund will accept fresh subscriptions through lumpsum investment, systematic investment plan (SIP), systematic transfer plan (STP), frequency or such other special products in the units of Kotak Small Cap Fund.
Sebi proposes mutual fund lite norms for passively managed mutual fund schemes
Passively managed MF schemes replicate an underlying index such as ETFs and index funds where portfolios of index funds can be easily tracked. Active fund schemes requires expert fund managers who define investment philosophy and select securities.
Trust Mutual Fund files draft document with Sebi for small cap fund
Targeting long-term growth, this new scheme primarily invests in small-cap equities, benchmarked against Nifty Smallcap 250 TRI. Mihir Vora and Aakash Manghani will manage the portfolio.
ICICI Prudential Mutual Fund launches energy opportunities fund
This scheme focuses on achieving long-term capital growth by primarily investing in equity and equity-related instruments of companies that are involved in or benefit from the expansion of both traditional and emerging energy industries and related sectors.
London PE Finnest takes majority stake in cloud kitchen firm Kitchens@ with $160 million investment
London-based PE firm finnest has acquired a majority stake in cloud kitchen startup Kitchens@ with an investment of Rs 1,335 crore, making it the largest shareholder. This round values Kitchens@ at $305 million, post-money, sources told ET. Kitchens@ provides services like ready-made kitchen setups, as well as supply chain and hiring support to cloud kitchens.
Bandhan Mutual Fund launches Bandhan Nifty Total Market Index Fund
Bandhan Mutual Fund has launched Bandhan Nifty Total Market Index Fund, an open-ended scheme tracking Nifty Total Market Index.
Axis Mutual Fund launches Axis Nifty 500 Index Fund
Axis Mutual Fund has announced the launch of Axis Nifty 500 Index Fund, an open-ended index fund tracking the Nifty 500 TRI. The new fund offer or NFO of the scheme will open for subscription on June 26 and will close on July 09.
HDFC Mutual Fund launches HDFC NIFTY100 Low Volatility 30 Index Fund
Invest in the HDFC NIFTY100 Low Volatility 30 Index Fund to benefit from continuous sale and repurchase options. With a TER of up to 1.00%, this passively managed fund aims to track the NIFTY100 Low Volatility 30 Total Returns Index, providing investors a low-cost opportunity for wealth creation.
Specialty chemicals platform Distil raises $3.1 million funding led by Jungle Ventures
Distil, a specialty chemicals platform, has raised $3.1 million in a funding by Jungle Ventures and India Quotient. This is the first seed investment made by Jungle Ventures after launching First Cheque@Jungle. The startup will use the capital to expand its sales team, R&D and other such areas.
AI search startup Genspark raises $60 million in seed round to challenge Google
The funding is led by Singapore-based fund Lanchi Ventures and valued the startup, currently without revenue, at $260 million. Lanchi Ventures, formerly BlueRun Ventures China, rebranded last year to distance itself from its Silicon Valley origin BlueRun Ventures.
Lending startup Fibe closes $90 million financing in mix of primary and secondary transaction
Pune-based consumer lending startup Fibe is raining money at a time when fintech lending startups focusing on unsecured consumer lending are finding it difficult to raise fresh equity funding due to RBI's scanner.
Ride-hailing startup BluSmart to raise Rs 200 crore in new funding
BluSmart has raised nearly $24 million or Rs 200 crore in its latest funding round. In January this year, BluSmart had raised $25 million, while in 2023 it conducted funding rounds worth $66 million.
Elon Musk’s xAI nears funding at $18 billion value soon as this week
The size of the round hasn’t been finalised, the people said, asking not to be identified as the information isn’t public. The maker of AI chatbot assistant Grok was set to raise $6 billion in the round, whose participants include Sequoia Capital, Bloomberg News has reported.
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