REIT NEWS
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.
SEBI cracks down on finfluencers, streamlines voluntary delisting process
In a significant move, the regulator approved a fixed price process for voluntary delisting, offering companies an alternative to the existing reverse book-building mechanism. Sebi chief Madhabi Puri Buch emphasised that unregulated entities providing market-related advice are acting unlawfully. The regulator also introduced a new delisting framework for investment holding companies, with the fixed price set at a 15% premium over the floor price. Additionally, SEBI granted exemptions to certain UNI funds from the beneficial ownership rule.
Infra and defence mutual funds dominate returns chart in first half of 2024
The first half of 2024 showcased the dominance of infrastructure and defense-based mutual funds in the market. While some international funds faced challenges, strategic investment decisions were crucial. Diverse performances emphasized the need for a well-rounded portfolio strategy to navigate the market effectively.
Mahindra Manulife Manufacturing Fund opens for subscription. Key things to know
Mahinda Manulife Mutual Fund has launched a manufacturing fund. Mahindra Manulife Manufacturing Fund is an open-ended equity scheme that follows manufacturing themes.
Mumbai, Delhi-NCR, Bengaluru lead Small & Medium REIT investment prospects
India's fractional ownership property market is projected to grow over 10 times, exceeding $5 billion by 2030, driven by office assets suitable for Small and Medium REIT (SM REIT) investments. Mumbai and Delhi-NCR are top hotspots, with significant opportunities in tech markets. SM REITs offer investors professionally managed, rent-yielding assets.
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Mahindra Manulife Mutual Fund launches manufacturing fund
Mahindra Manulife Mutual Fund has introduced a manufacturing-focused fund called the Mahindra Manulife Manufacturing Fund. This open-ended equity scheme is designed to follow manufacturing themes.
Bajaj Finserv Mutual Fund launches Multi Asset Allocation Fund
The scheme will be benchmarked against 65% Nifty 50 TRI + 25% NIFTY Short Duration Debt Index + 10% Domestic Prices of Gold. Nimesh Chandan and Sorbh Gupta (equity investments), Nimesh Chandan and Siddharth Chaudhary (debt investments) and Vinay Bafna (commodities investments) will manage this fund.
Embassy REIT’s unitholders approve fundraise of up to Rs 3,000 crore through QIP
The resolutions passed will help Embassy REIT to fund the acquisition and will also help the REIT to optimize its balance sheet for future growth
International MFs dominate list of losers in 2024 so far. Here’s the break up
ETMutualFunds analysed the performance of equity mutual funds in 2024 so far and found that the equity schemes that gave double-digit negative returns were from the same category which was international funds. Here is the break-up of schemes that lost the most in 2024 so far, according to the data by ACE MF.
ETMarkets: Emerging Investment Opportunities 2024
ETMarkets, in partnership with Mudrex, presents "ETMarkets: Emerging Investment Opportunities" on March 20th in Bangalore. This event is a vital platform for financial professionals, exploring investment avenues beyond equities. Industry leaders will discuss risk management, Sovereign Gold Bonds, cryptocurrency prospects, and Gold ETFs. Attendees will gain insights into options for risk-averse investors, cryptocurrency horizons, REIT & Gold, and the future of investments, with ample networking opportunities.
Bandhan Innovation Fund opens for subscription. Here are key things to know
Bandhan Mutual Fund has launched an innovation fund. Bandhan Innovation Fund is an open-ended equity scheme following an innovation theme.
Axis Mutual Fund changes fundamental attributes of Axis Focused 25 Fund. What should you do?
The scheme will allocate 65-100% in equity and equity related instruments (of not exceeding 30 companies), 0-30% in debt and money market instruments, 0-10% in units issued by REITs & InvITs.
ICICI Prudential Commodities Fund to invest in Silver ETFs
The fund house further mentioned that the existing unit holders (i.e. whose names appear in the register of unitholders as of the close of business hours on March 22, 2024) under the scheme are hereby given an option to exit, i.e. either redeem their investments or switch their investments to any other scheme of ICICI Prudential Mutual Fund.
We will continue to grow in Bangalore & 3 other cities: Aravind Maiya, Embassy REIT
Embassy REIT anticipates strong growth in commercial real estate in India, with a focus on cities like Bangalore and plans to enter Chennai. They expect NOI to exceed Rs 3,000 crore in FY24 and have seen positive demand from global capitals for office space. Plus, they are constructing close to 7 million square feet in our existing parks where the land is already paid for.
Bank of India Mutual Fund aims to raise Rs 500 crore from multi-asset allocation fund in NFO period
The new scheme is designed for investors who are seeking low volatility in their portfolio and exposure to multiple asset classes -- equity, debt and gold -- with better returns.
HSBC Mutual Fund launches HSBC Multi Asset Allocation Fund
The scheme will be managed by Cheenu Gupta (for equity investments), Dipan Parikh (for gold/silver ETFs), Mahesh Chhabria (for debt investments), and Sonal Gupta (for foreign investments). It will be benchmarked against S&P BSE 200 TRI (65%) + Nifty Short Duration Debt Index (20%) +Domestic Price of Gold (10%) +Domestic Price of Silver (5%).
Stocks in news: Embassy REIT, Nippon AMC, BPCL, Apollo Tyres
Global private equity firm Blackstone Group plans to sell its entire stake in Embassy Office Parks REIT through a mega block deal on Wednesday, according to news reports
Blackstone likely to exit Embassy Office Parks REIT via block deal on Wednesday: Report
The floor price for the sale has been set at Rs 310 a share, and Kotak Mahindra Capital and IIFL Capital are the advisors to the mega deal. The floor price is at a discount of nearly 8% to the current market price. The units of Embassy Parks REIT ended 3.4% higher on the BSE at Rs 335.54.
Samco Mutual Fund files draft for balanced advantage fund
The scheme will allocate 0-100% in equity and equity related instruments including derivatives, 0-100% in debt and money market instruments, including units of debt oriented mutual fund schemes, 0-35% in foreign securities including ADRs / GDRs / foreign equity and debt securities, and 0-10% in units issued by REITs & InvITs.
Helios Mutual Fund files draft for a flexi cap fund
The performance of the scheme will be benchmarked against NIFTY 500 TRI. The scheme will be managed by Apurva Sharma. The minimum application amount will be Rs 5,000 and in multiples of Re 1 thereafter.
9 sectoral/thematic schemes that lost the most in 2023
Two schemes - Edelweiss Greater China Equity Off-Shore Fund, and Axis Greater China Equity FoF, had investments in the Greater China market.
Sebi notifies rule; gives board representation to REITs' unitholders
The regulator said principles of stewardship code would apply to members, nominated by the unitholders, on the board of directors of investment managers of REIT
Union Mutual Fund launches Union Innovation & Opportunities Fund. Should you invest?
The scheme will be benchmarked against Nifty 500 Index (TRI). The scheme will be managed by Hardick Bora, and Sanjay Bembalkar. The minimum application amount required is Rs 1,000 and in multiples of Re 1 thereafter.
HSBC Mutual Fund launches HSBC Consumption Fund
The performance of the scheme will be benchmarked against Nifty India Consumption Index TRI. The scheme will be managed by Gautam Bhupal, Sonal Gupta (for overseas investments).
Mindspace REIT leases 4 lakh sq ft in June quarter, operating income up 14%
The K Raheja Corp-backed REIT has declared distribution of Rs 284.6 crore or Rs 4.8 per unit for the first quarter of 2023-24. Of this, around 90.2% is in the form of dividend and tax-exempt in the hand of unitholders. The record date for the distribution is July 31.
Nexus Select Trust REIT IPO listing likely on Friday. What to expect
Nexus Select Trust is expected to list on the exchanges on May 19 and is expected to have a marginal premium of Rs 2.50 in the unlisted market. The company is offering a pre-tax yield of 8% in FY24 at the upper price band.
Nexus Select Trust REIT issue closes with 5.74 times subscription
Nexus Select Trust's Rs 3,200-crore Initial Public Offering (IPO) that aims to establish India's first retail assets-led Real Estate Investment Trust (REIT), has been successful, with a total subscription of 5.74 times. The REIT had raised over Rs 1,440 crore through its anchor book, which was subscribed to by 16 institutional investors. The issue received over 1.55 lakh applications, while the institutional investor portion was subscribed 5.06 times, and the investor portion witnessed 6.55 times subscription at the upper end of the price band of Rs 95-100 per unit.
Nexus Select Trust REIT IPO sails through on Day 3
India's Rs 3,200 crore ($435m) initial public offering (IPO) of Blackstone-backed Nexus Select Trust, a real estate investment trust (REIT), was fully subscribed on the third day of bidding. The institutional investor segment was subscribed 1.32 times with other investors seeking 1.87 times. The issue is a mix of fresh-share offer and an offer for sale portion, gaining Rs 1,440 crore on the day before the issue opened from institutional investors. If the IPO touches the upperband of Rs 100, Nexus will have a market cap of Rs 15,150 crore, offering a pre-tax yield of 8% in FY24.
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