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PE, VC funding slows in first half of 2024; secondary deals become prominent
Secondary stake sales and buyouts are driving most of the larger deals being made by private equity (PE) and venture capital (VC) funds in new-age firms, data from investment banking firm DC Advisory showed. In the first six months of 2024, when 37 deals took place in the $50-500 million range, 62% were secondary transactions or buyouts, with external primary investment rounds making up only 13%.
Best corporate bond mutual funds to invest in June 2024
There are no changes in the recommendation list this month. If you are investing in these schemes, you can relax and continue with your investments. Follow our monthly updates regularly.
Novavente raises $3 million from Highbrow Securities
The partnership with Highbrow Securities is also expected to enhance Novavente's market credibility as it prepares for a public listing on the London Stock Exchange. The sales consulting firm will use the fresh funds to fuel expansion plans and enhance offerings and services. Beyond its core business, Novaventa has also invested in developing generative AI products.
Fintech focused venture fund Cedar-IBSI Capital secures investment commitment from Hades Group
Fintech-focused venture capital fund Cedar-IBSi Capital has raised funding from Middle East-based AMC HFPCG. It did not disclose the size of the investment.
Best banking & PSU mutual funds to invest in June 2024
Mutual fund advisors say banking & PSU debt schemes are ‘relatively’ safe because these schemes invest only in bonds and papers of banks and public sector companies. Since most of these entities are government-backed, they don’t have the credit risk.
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.
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Centre seeks exemption for sovereign funds from RBI's alternate investment fund rules, sources say
The Indian government has requested the Reserve Bank of India (RBI) to exempt sovereign funds from the tightened rules concerning investments in alternate investment funds (AIFs). The RBI has asked banks and non-banking financial companies to raise provisions for AIF investments if they were also lenders to the projects in which the AIFs were investing.
Credit funds, family offices fill void left by banks at AIFs
The central bank came out with a circular in December 2023, requiring mainstream banks and NBFCs to divest their investments in AIFs that have funded any company that has borrowed from the bank or NBFC. The regulator had also raised provisions for banks or NBFCs investing in AIFs that subsequently lend to their borrowing companies.
Top 5 stocks held by most number of mutual funds
Every week ET Wealth put about 3,000 stocks through four key filters and rate them on a mix of factors. The end result of this is the listing of the top 50 stocks based on the composite rating to help ease your fortune hunt. (Data as on 6 June 2024; Source: Value Research)
Green flavour not enticing enough for bond investors
Green bonds in India face challenges due to the absence of financial institutions focusing on green financing and investors enthusiastic about environment protection. Follow-up issuances have dried up a year after the first government green bond sale.
Quant Smallcap Mutual Fund hikes holding in Adani Power, exits Hindalco, Britannia
Quant Small Cap Fund increased holdings in Adani Power in May. Fund exited stocks like Hindalco, Bharat Electronics, and Britannia, as per ETMutualFunds analysis.
Norway wealth fund to vote against Elon Musk's $56 billion Tesla pay package
Norway's wealth fund to vote on Musk's pay and directors' re-election at Tesla's annual meeting. The fund opposes Musk's $56 billion pay package, voided for being unfair to shareholders.
Modi’s election setback only a blip for some global stock funds
“The first thing I did was message my portfolio managers who invest in India to say if Nifty banks are down because of a lower-than-expected mandate for Modi, it’s a buying opportunity,” Sai said in an interview on Tuesday.
Stay put, stay calm, don't be adventurous: Vijay Kedia's message to retail investors
I do not know what is going to happen still because since BJP has not come with a majority and all, so that is the biggest fear factor in this market, that what is going to happen tomorrow. Let me tell you, somebody was telling me who is going to become PM also.
RBI to face problem of plenty: Prepare for bond sales
The RBI's challenge for the year may not be inflation but liquidity. Government spending resumption and overseas fund flows complicate monetary policy effectiveness.
How I finally entered a $5 trillion money-making venture
Indrajit hazra talks about how an Allahabad Bank account-holding man-child, at last, felt plugged into the Phiroze Jeejeebhoy Towers on Dalal Street,
Baroda BNP Paribas Mutual Fund launches Baroda BNP Paribas Nifty Bank ETF
Baroda BNP Paribas Mutual Fund launches Baroda BNP Paribas Nifty Bank ETF, tracking the Nifty Bank Total Returns Index. With a minimum investment of Rs 5,000, it offers exposure to the Indian banking sector for long-term capital appreciation.
TRUST Mutual Fund appoints Jalpan Shah as head of fixed income
Prior to joining TRUST Mutual Fund, Shah served as Senior Vice President at HSBC Mutual Fund. He was a key member of the organisation and is credited for managing substantial AUM in the fixed income space.
Did you miss these wealth creators? Top 40 index funds give 50-100% returns in 1 year
Index funds gain popularity, with AUM rising 30% to Rs 9.6 lakh crore in a year. Over 40 funds yield 50-100% returns. Index funds offer low-cost and straightforward equity market exposure.
Infra mutual funds among top winners in last 5 years of Modi government
Infrastructure sector-based mutual funds, including Quant Infrastructure Fund, Invesco India PSU Equity Fund, and Nippon India Power & Infra Fund, have been top winners in the last five years of the Modi government, offering impressive absolute returns up to 380%.
India's growth outlook: Economy to get a blockbuster release this Friday? But that's too late to stream in poll campaigns
GDP Q4: As the country buzzes with election excitement, India is set to release its GDP growth numbers for the fourth quarter of FY24 this Friday, alongside the full fiscal year figures. Analysts are eagerly awaiting to see if the January to March quarter numbers surpass expectations, fueling hopes of a surprising uptick in growth.
To woo local chip makers, China sets up $47.5-billion fund
The third phase of National Integrated Circuit Industry Investment Fund has amassed 344 billion yuan ($47.5 billion) from the central government and various state-owned banks and enterprises, including Industrial & Commercial Bank of China Ltd, according to Tianyancha, an online platform that aggregates official company registration information. The fund was incorporated on May 24.
Save Solution receives $13 million private equity funding
Private equity investor Incofin Investment Management has invested $10 million SaGgraha Management Services, a business correspondent wholly owned by SAVE Solutions, which itself provides the last mile banking services in the rural hinterlands through its some 10000 touchpoints.
Debt mutual funds vs bank FDs: Where to invest for higher returns?
Debt mutual funds outperformed fixed deposits, emphasizing the importance of considering risk profile and investment goals. The strategy involves focusing on short-term funds and excluding target maturity funds.
Best banking & PSU mutual funds to invest in May 2024
Mutual fund advisors say banking & PSU debt schemes are ‘relatively’ safe because these schemes invest only in bonds and papers of banks and public sector companies. Since most of these entities are government-backed, they don’t have the credit risk.
Stocks in news: Vodafone Idea, Biocon, PB Fintech, ZEEL, JSW Steel
Shares of ZEEL, JSW Steel, Godrej Industries, Glaxo and Sobha will be in focus as the companies will announce their quarterly results.
Norway excludes Adani Ports, US and Chinese cos from pension fund
Norges Bank said on Wednesday that it excluded the company because of an unacceptable risk that the company contributes to serious violations of individuals' rights in situations of war or conflict. The other two companies blacklisted by Norges Bank include US-based L3Harris Technologies and China's Weichai Power.
Norway sovereign wealth fund excludes Adani Ports over ethical concerns
Norway's central bank has excluded three companies from its government pension fund due to ethical concerns. Adani Ports, part of Gautam Adani's conglomerate, is excluded due to potential violations of individuals' rights in war situations. Weichai Power, a Chinese company, is excluded due to its involvement in armed conflict sales.
Tata Mutual Fund merges banking & PSU debt fund with corporate bond fund
The fund house informed about this to its unit holders through a notice-cum-addendum. The merger will be effective from June 15. From this date, Tata Banking & PSU Debt Fund will cease to exist and the unitholders of the scheme will become unitholders of Tata Corporate Bond Fund.
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