MF UNITS
Dividend received from shares and MF is taxable; Here’s how to reduce your tax outgo from dividend income in your ITR
Dividend from shares and MF: You have to pay income tax on all dividend received, however there is a way using which you can reduce the net tax outgo on dividend income. "Only interest expenses are allowed as a deduction from dividend income," says Neeraj Agarwala, Partner, Nangia & Co LLP.
SBI loan against mutual funds: How to avail, interest rate, processing fee
State Bank of India (SBI) launches an online loan facility against mutual fund (MF) units via Internet Banking (INB) and the YONO App. The new loan facility is extended at attractive interest rates to mutual fund schemes of all Asset Management Companies (AMCs) registered with CAMS.
United Spirits shares up 2.14% as Nifty gains
The stock quoted a 52-week high price of Rs 1334.05 and low of Rs 891.05.
Groww user alleges 'fraud', says app shows mutual fund investment but can't redeem, company denies; what are lessons for MF investors?
Groww faces 'fraud' allegation: A customer's complaint against Groww, has sparked concerns over investment safety via execution-only platforms (EOPs). The investor alleged via social media that investments made through Groww could not be withdrawn despite the app showing them as invested. Groww responded, asserting no deduction occurred and the mutual fund transaction did not take place. The incident underscores broader worries among investors about data reliability on fintech apps. ET Wealth delves into the details surrounding the incident. What could mutual fund investors learn from this incident?
United Spirits shares up 1.27% as Nifty falls
The stock quoted a 52-week high price of Rs 1334.05 and low of Rs 878.5.
ET Explainer: NAV of a mutual fund
Mutual fund schemes declare the NAV daily, representing the market value per unit. It is calculated by dividing total assets by liabilities, updated at 11 pm for most schemes. NAV is crucial for investors in buying or selling units through the fund house.
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Why your MF purchases on June 4 did not go through the same day?
Investors rushed to invest lump sums in equity mutual fund schemes on June 4 after the stock market fell post the electoral verdict. They expressed disappointment on social media as they received the units at the NAV of the next day, missing out on taking advantage of the market rebound.
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.
Quantum MF files suit against ICICI Securities delisting, cites loss in share swap deal, valuation
Amidst the tussle between ICICI Bank and retail shareholders over the delisting of its unit ICICI Securities from the Indian bourses, Quantum Mutual Fund has filed a suit against the delisting in the National Company Law Tribunal (NCLT), Mumbai branch.
United Spirits shares drop 0.05% as Sensex rises
A total of 52,426 shares changed hands on the counter till 01:53PM (IST)
Know Your Fund Manager | Sanjay Chawla, CIO – Equity, Baroda BNP Paribas Mutual Fund
"I am directly managing some of the flagship and strategic products. All the funds are sector-agnostic and across market cap. These include Balanced Advantage Fund, Flexi cap Fund, Large & Midcap Fund and Focused Fund. This accounts for close to 1/3rd of the fund’s AUM"
ET Mutual Funds explains: 5 key differences between index funds and index ETFs in India
Index funds and Index ETFs vary in investment requirements and cost structures, with ETFs requiring a demat account and having lower expense ratios compared to index funds.
United Spirits share price up 1.35 per cent
A total of 54,827 shares changed hands on the counter till 10:25AM (IST).
Awfis IPO subscribed over 108 times
Awfis Space Solutions, an office-sharing company, wrapped up its hugely popular IPO on Monday. Investor demand was through the roof, with subscriptions exceeding the offered shares by over 108 times.
Factor ETFs: Why you should invest for long-term returns
Historical data suggests portfolios constructed on quality, value, growth, alpha, momentum, volatility were able to reward investors with better returns than that offered by market-cap based indices. Mutual fund houses are keen to launch ETFs that track the performance of the factor indices.
LIC Mutual Fund changes exit load for four equity schemes
LIC Mutual Fund alters exit load structure for four equity schemes, notified via notice-cum-addendum. Effective from May 27, the duration shifts from 12 to three months
United Spirits shares gain 0.45% as Sensex falls
A total of 17,332 shares changed hands on the counter till 10:55AM (IST)
United Spirits shares down 0.05% as Sensex rises
A total of 13,113 shares changed hands on the counter till 10:40AM (IST)
Sebi mulls facilitating MFs to invest in overseas funds with exposure to Indian securities
The Sebi caveat is such overseas funds should not be more than 20% of their net assets. The move would help keep Indian fund of funds (FoFs) true to their label, coupled with cost effectiveness, for investors.
United Spirits shares down 0.44% as Sensex rises
A total of 8,262 shares changed hands on the counter till 01:08PM (IST)
MF investors get KYC relief as Sebi withdraws PAN-Aadhaar link norm
The Securities and Exchange Board of India (Sebi), in a circular on May 14, removed the requirement for investors to link the permanent account number (PAN) with Aadhaar to obtain the 'KYC registered' status for mutual fund transactions. This means all investors can continue putting money into mutual funds without putting up additional documents for the time being.
What is the advantage of borrowing against mutual fund units?
Borrow against equity or hybrid mutual fund units for immediate liquidity at 9-11% interest rates. Advantages include short-term monetary support without selling units, maintaining financial plan, and quick capital raise. Apply online through NBFC websites for a paperless process.
Should investors be contra buyers in IT? Rajeev Thakkar answers
In each bull market, there will be pockets of exuberance, but there will be some other pockets which will be out of favour and that is where we tend to look for opportunities.
Nomination now optional for joint mutual fund portfolios; what MF investors must know
The deadline for all current individual unit holders who own mutual fund units, either alone or jointly, nominate or opt out of nomination is June 30, 2024; otherwise, the folios will be blocked for debits.
Liquidity in mutual funds: 5 things to know
If the fund has investments that are less commonly traded, it might impact the liquidity of the fund.
Thinking of KBC, stumped by KYC? Some answers for MF investors
While the process of doing KYC once again looks simple, investors, distributors, and investment advisors have been complaining that even after submitting the required documents for KYC, there are delays in updating them at the KRAs' end. Unless the KYC is approved, the AMC could reject your application for fresh investments.
Mirae Asset’s thematic mutual fund outperforms category in January-March quarter
Mirae Asset NYSE FANG+ETF FoF-Reg(G) outperforms in Jan-Mar quarter, exceeding domestic and overseas funds. 160 thematic funds by March end. Notable performers include Franklin India Feeder and Mirae Asset S&P 500 Top 50 ETF FoF-Reg(G).
Trideep Bhattacharya on 3 sectors with comfortable valuations and good earnings growth prospects
Trideep Bhattacharya discusses the market's growth, telecom and cement sectors, real estate dynamics, and power supply chain components. He emphasizes sector-specific developments, policy impacts, and future prospects, highlighting the resilience and potential re-rating of various sectors. IT services, power supply chain and real estate are the 3 sectors from where he picked stocks in the last 3 months due to their comfortable valuations and good earnings growth prospects.
Invesco plans to exit MF business in India
IIHL - the Mauritius-based investment company of the mobility-to-chemicals conglomerate that owns IndusInd Bank and Anil Ambani-promoted Reliance Capital, which it bought recently in a bankruptcy resolution - has valued Invesco Asset Management India at Rs 2,100-2,500 crore.
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