Latest Indian Mutual Fund News | 10-Aug-2011


1.Assets with MFs leap 8.17% in July.

The mutual fund industry's assets surged by 8.17 per cent to Rs 7.28 lakh crore in July. The total assets under management of the mutual fund industry stood at Rs 6.73 lakh crore as on June 2011.The rise in assets was led mainly by a sharp increase of 26.5 per cent in the liquid/money market funds. The assets under management for these funds stood at Rs 1.8 lakh crore, up from Rs 1.42 lakh crore in June. "As equity markets are performing badly, the liquid schemes have become more attractive because of the high yields. A lot of money has found its way into these schemes," said Mr Deepak Chatterjee, Managing Director, SBI Mutual Fund.

News Source – BUSINESS LINE.

2.Govt permits foreign investors to invest up to $13 bn in MFs.


The government today allowed foreign investors to invest up to $ 13 billion in equity and debt schemes of mutual funds, a move aimed at enhancing depth in the capital market. The announcement comes at a time when there are concerns over the flight of foreign capital and is expected to provide much needed succour to the markets.



3.Gold ETFs shine on lacklustre equity market.

The volumes in exchange-listed gold funds have surged over the last two days, with prices of gold shooting up. This is following trends in the global market where the downgrade of US debt has triggered a sell-off in equity markets and fired up gold prices. The total traded quantity in GoldBeES (most heavily traded of the gold-ETFs), the Benchmark Mutual Fund's gold exchange traded fund shot up from an average of 1-1.5 lakh units in a day to 3 lakh units on Monday and 3.77 lakh units on Tuesday in the National Stock Exchange.

News Source – BUSINESS LINE.

4.SEBI to conduct interview for EDs tomorrow



The interviews for four vacancies for the post of Executive Director at the SEBI will be held on August 11 and August 12, said sources. Mr J. Ranganayakulu, Executive Director – Legal, has re-applied and is expected to retain his position. For the other three general vacancies, two are expected to be outsiders, in line with SEBI's quota for internal and external candidates. Mr S. Ravindran, Chief General Manager, in charge of Mutual Funds, is tipped to takeover as SEBI's internal candidate for the post of ED.

News Source – BUSINESS LINE.

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