29 Oct, 2014
MF exposure to auto sector hits all-time high at 10% in Sept
AUTO and auto ancillary stocks now hold over a tenth of mutual funds' assets under management (AUM). Monthly data available with Sebi since August 2009 showed do-, rhestic mutual fund . investment in these sectors hit a record high of 10.04 per cent in September. September month had also seen a 14.67 per cent pick up in domestic auto sales from the previous month, as economy showed early signs of revival and festive demand surged.
Publication: Financial Chronicle
DHFL, Prudential Financial to form asset mgmtJV
Dewan Housing Finance Corporation (DHFL) on Tuesday said it has acquired 50% stake in Pramerica Asset Managers, US-based Prudential Financial's asset management business in India.
Publication: The Financial Express
FUND MANAGERS BUY BANKS, SELL TECH STOCKS
Flush with investor inflows, mutual funds net-bought shares worth over Rs 19,200 crore during the September 2014 quarter. Of the 50 blue-chip stocks in the benchmark Nifty index, they have increased their holdings in 26 companies, latest shareholding pattern data show
Publication: Business Standard
UTI Mutual Fund Almost Allows DLF To Redeem Investments Despite Sebi Ban
UTI Mutual Fund, the country's fifth-largest asset management company, had a narrow escape from being caught on the wrong side of the law. After Securities and Exchange Board of India (Sebi) barred real estate developer DLF and its promoters from accessing the capital market for three years, UTI MF went ahead with the redemption request of the company's investment with it. All other fund houses had blocked the withdrawal requests, seeking clarity from Sebi. Realising it was the only fund house to allow the redemption, UTI MF immediately stopped transfer of the proceeds to DLF
Publication: The Economic Times
Equity funds continue buoyant run in September quarter: Crisil
Equity funds have continued their buoyant run in the quarter ended September 2014, riding on small and mid-cap stocks, according to Crisil data.
Small and midcap funds were in the best performing category, with the Crisil-AMFI Small & Midcap Fund Performance Index delivering highest returns in all time frames ended September 30, 2014, a Crisil release said here today.