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Mumbai: Mutual fund profitability could come under pressure with the size of assets under management growing, but a fall in unitholders' fees could compensate for this squeeze, said Nimesh Shah, MD and CEO of ICICI Prudential Asset Management Company, whose ₹10,600 crore Initial Public Offer (IPO) is open for subscription. The issue, which will close on December 16 (Tuesday), was subscribed 2.11 times on Monday-- the second day of the offer. "As the size of the fund grows, margins are coming do ...Read More >
New Delhi, Oct 16 (PTI) Shares of Canara Robeco Asset Management Company on Thursday ended nearly 13 per cent higher in its debut trade against the issue price of RS 266. The stock made its market debut at Rs 280.25, up 5.35 per cent from the issue price on the BSE and NSE. During the day, it jumped 19.54 per cent to Rs 318 on the BSE. The stock finally ended at Rs 300.25, up 12.87 per cent. At the NSE, shares of the firm ended at Rs 300.45, up 12.95 per cent. The company's market valuation ...Read More >
MUMBAI: In a further boost to the raining IPO season, which has already seen over Rs 75,000 crore mopped up this year, Sebi has cleared the primary share sale plans of six companies. The companies that have received the Sebi nod are digital payments major Pine Labs, auto component maker Hero Motors, spices and ready to eat foods major Orkla India (the Norwegian company had snapped up Eastern Condiments and MTR Foods some time back), Emmwee Photovoltaic Power, Canara Robeco Asset Management Comp ...Read More >
New Delhi, July 9: While market volatility has made some investors cautious, we're also witnessing a healthy shift towards hybrid and arbitrage funds -- a trend that shows maturing investor behaviour and a preference for balanced risk strategies in uncertain times, Venkat N Chalasani, CEO of the Association of Mutual Funds in India (AMFI), said on Wednesday. India's economic fundamentals remain strong, and we continue to encourage investors to stay committed to their financial goals, he said wh ...Read More >
As a precursor to monetisation, sources said, banks should improve governance, professional decision-making and bring in greater operational efficiency in their subsidiaries. The finance ministry has asked public sector banks (PSBs) to look at monetising their investment in subsidiaries by listing them at bourses after further scaling up operations so that they realise a good return. There are about 15 subsidiaries or joint ventures of PSBs lined up for initial public offering or divestment in ...Read More >
New Delhi, Jun 29 (PTI) The finance ministry has asked public sector banks (PSBs) to look at monetising their investment in subsidiaries by listing them at bourses after further scaling up operations so that they realise good return. There are about 15 subsidiaries or joint ventures of PSBs lined up for initial public offering or divestment in medium to long term, sources said. Also Read | Tamil Nadu: Temple Worker, Detained in Connection With Alleged Theft of Gold Jewellery, Dies in Police Cu ...Read More >
Around 16 equity mutual funds have offered more than 30% CAGR in the last three years, based on the daily rolling returns. There were around 222 equity mutual funds that have completed three years of existence in the market. These 16 schemes were from six different categories. 10 small cap funds, two mid cap funds, a multi cap, flexi cap, contra fund, and an ELSS fund offered over 30% CAGR in the mentioned period. The first four toppers in the list were from the small cap category. Quant Small ...Read More >
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