In a nation where gold and property have been the traditional stores of value for centuries, equities appear to have emerged as a viable alternative in the past five years, underscoring the increasing ‘financialization’ of savings in India. Assets under management (AUMs) in the equity segment of local mutual funds climbed 23% annually, data gathered by Motilal Oswal showed, undergirding the broadest benchmark Nifty 50 through a period of rather circumspect growth across vast swathes of the consumption economy. Total equities AUM was Rs 9 lakh crore at the end of 2019 and rose for the sixth year in a row. The share of domestic institutional investors (DIIs) in the BSE 500 companies reached a record high of 14.4% in the September 2019 quarter. MFs invested Rs 4.5 lakh crore in the past 5 years in equity market, outrunning their overseas peers 2.6 times. AUM of domestic mutual funds grew annually by 19% to Rs 26.9 lakh crore between 2013 and 2019. A portion of financial … [Read more...] about Growth in mutual funds’ equity assets far outpaces the rise in benchmarks
Surging global wealth prolonging record equity bull run
BENGALURU: Keep calm and run.This is Mukesh Singh's mantra.The CEO and co-founder of online grocery store Zopnow is a marathoner and has participated in several runs across the world in the past 15 years. In fact, he starts on a run every time he needs to take a pivotal decision. "Startup life throws up many crisis situations - finance, technology, HR - that keep itching.Prioritising is crucial. I always take a run whenever a situation arises. Track record is that I have always found a solution," says the IIT-Kanpur alumnus, who runs for 15 kilometres every Sunday. For him, a run is as much a mental thing as it is physical. "That time is exclusively yours." Even the name Zopnow came to him during a run. "We did not want to pay Rs 50 lakh to buy a name. During a run, I saw a vehicle with the 'horn ok please' message mis-spelt. I gave a twist to 'shop now' and made it Zopnow. We gave just Rs 500," he chuckles. Singh's fascination for marathons started in 2001 during his days in … [Read more...] about Keep calm and run: Mukesh Singh’s mantra to beat high-pressure situations
Mutual funds having exposure to Vodafone Idea’s corporate papers and shares are staring at possible losses as an adverse judgment from the Supreme Court threatens to down the curtains on the business. The telco’s survival will now depend on its ability to garner funds to pay the statutory dues and repay what it had borrowed from the market. The government has estimated Vodafone Idea’s dues at over Rs 53,000 crore, including over Rs 28,000 crore in licence fee, interest and penalties and the rest on spectrum usage charges. Besides, the company’s total debt stood at Rs 1.15 lakh crore at the end of FY2019, shows available data. Mutual fund investors have already taken the first hit from this, after Franklin Templeton India marked down its Vodafone Idea debt exposure to zero as a pre-emptive measure. It has also limited fresh inflows to the schemes having Vodafone Idea papers to Rs 2 lakh per day per fund per investor. “The large quantum of AGR dues and … [Read more...] about Rs 4,500 crore mutual fund money at stake in Voda Idea; Templeton markdown hits 6 schemes
Tax saving season is here and those who wait until the financial year-end to finalise their tax-saving investments to save taxes under Section 80C are looking for the best investment option. Well, if you are looking for a universal best investment, you are going to be disappointed. The best investment for you would be an option that matches your investment objective and risk profile. However, we will help you to reach that final decision. ETMutualFunds.com has compiled the features of these investment options - both the qualitative and quantitative data - that would help you to compare and find the best tax-saving option for you. We will begin with the return possibility or the likely return these schemes may offer you. We tried to find out how much a monthly investment of Rs 10,000 for 15 years had created at the end of the investment period. Let’s begin with PPF, which has a lock in of 15 years. An investor who had invested Rs 18 lakh in the last fifteen years (Rs 10,000 … [Read more...] about ELSS, PPF, NPS, ULIP: which is the best option to save taxes under Section 80C?
MUMBAI: HDFC Bank will carry out an upgrade of its credit card platform to provide new features that will give more power to customers in a phased manner. The upgrade will happen on January 18, between 1am and 12 noon, leading to a limited outage in services. Though phonebanking, net/mobile banking and interactive voice response systems will be unavailable for card customers, cards will continue to function for both online and offline purchases. A spokesperson for the bank said it will be upgrading to VisionPlus V10, the latest in global banking architecture. “This migration is an industry-first in India and will offer a superior user experience for credit card customers. It will enable the bank to be completely future-ready and enhance customer experience by offering faster resolution of credit card disputes. From about a week to less than a day and instant card creation, even during browsing on an e-commerce site,” the spokesperson said. The instant card generation will … [Read more...] about HDFC Bank to upgrade credit card systems