Beyond 30, or the next 30 locations beyond the top 30 cities, contributed nearly 16 percent to total mutual fund industry assets of Rs 26.14 lakh crore as of October-end.The balance was contributed by T30 cities, or to the top 30 geographical locations in India, according to data from the Association of Mutual Funds in India (AMFI).In the last two years, the Securities and Exchange Board of India (SEBI) has been pushing mutual fund houses to reach out to the hinterland for garnering assets. Towards this, the capital market regulator had classified cities as T30 and B30 (T stands for top and B stands for beyond).Close In FY19, assets from B30 cities grew 13 percent year-on-year (YoY) to Rs 42,368 crore. related news Forex reserves rise $441 mn to new lifetime high of $448.2 bn Muthoot Finance to acquire IDBI's mutual fund business for Rs 215 crore Yes Bank sells over 13 lakh shares of Reliance Capital A month-on-month (MoM) comparison shows that the AUM … [Read more...] about B30 cities contribute 16% to total MF assets; 64% AUM parked in equity schemes
5 years ago or 5 year ago
A four-day festival showcasing art, culture, cuisine, handicrafts and handlooms of the northeastern region will be held for the first time in Varanasi.Union minister Jitendra Singh said the 'Destination North East' festival, which will begin in the temple town of Uttar Pradesh on Saturday, will exhibit the striking similarities between the Ganga and Brahmaputra basins in terms of ancient culture, diverse handlooms and silk products, spiritual heritage and vibrant tourist hubs."The idea of organising such an event is to bring the rest of India closer to the Northeast and to have experience of rich culture of the region," Singh told reporters in New Delhi.Close The Union minister for development of the northeastern region (DoNER) said all-round progress of the Northeast was the priority of the central government ever since Prime Minister Narendra Modi took charge five years ago. related news Sharad Pawar outwitted Chanakya of politics: NCP takes a jibe at BJP Congress protests … [Read more...] about 4-day Northeast festival in Varanasi from November 23
The popularity of the mutual fund as an investment vehicle may have increased among the retail investors but the average ticket size is indicating a falling trend.According to the data by the Association of Mutual Funds in India, the average ticket size of retail investors fell 23 percent to Rs 59,201 until September 2019. In comparison, the average ticket size for retail investors stood at Rs 77,318 in 2018.Mutual fund experts attributed the drop to the entry of new investors.Close “The average ticket size (of retail investors) has gone down due to the entry of new investors. Also, retail investors are choosing more schemes to diversify their portfolio,” said Hiren Dharamshi, Managing Director, CashRich, which is a wealth management app for investments.Himadri BuchAssistant Editor|Moneycontrol.com How Muthoot Finance can leverage its IDBI AMC buyEssel Group stake sale in Zee: Will it release logjam for MFs?SEBI move to up minimum PMS investment could benefit mutual fundsHe … [Read more...] about Average ticket size of retail investors down 23% to Rs 59,201 in 2019
S MurlidharanThe central government had set up an inter-ministerial group in April 2017 to analyze payment norms and see whether there is excessive payout by Indian companies to foreign collaborators. The government was concerned by rising royalty payments after removal of restrictions in 2009.The Finance Ministry however overruled the committee’s suggestion to bring back the pre-2009 regime on the ground that it would send wrong signals to foreign investors.Close The government is rethinking that stand now, alarmed by the relentless surge in royalty payments for use of technology. related news Maruti to bring BS-6 petrol version of Brezza, S-Cross before April 1 Don’t miss! Stocks from life insurance and AMC likely to be included in Sensex & Nifty 3-Point Analysis | Recap: Q2 results so far Before 2009, royalty payments were regulated by the government and capped at 8 percent of exports and 5 percent of domestic sales in the case of technology transfer … [Read more...] about Rising royalty payments raise risk of a clampdown but is that justified?
Supply of coal by state-owned CIL to the power sector registered a decline of 8.5 percent to 253 million tonnes in the April-October period of this fiscal. Fuel supply by Coal India in the year-ago period was 276.8 million tonnes (MT), according to official data.The supply of coal to power sector by CIL in October dropped by 19.3 percent to 33.8 MT, over 41.9 MT in October last fiscal.With torrential rains hitting coal production, Coal India had said that it was keeping a close watch on the current situation to ensure smooth supplies to power plants.Close CIL saw its output decline by 6 percent to 241 MT in April-September on account of monsoon. related news Vistara renews partnership with Amadeus regarding ticket distribution services Appliances and consumer electronics industry expected to double to Rs 1.48 lakh crore by FY25 Govt relief for telcos, tariff hikes may not offset impact of SC ruling: Fitch "CIL is gearing up to regain its production tempo and keep coal … [Read more...] about Coal supply by CIL to power sector drops over 8% to 253 MT in April-October