Sebi

The committee had, after making the refund to over 9.72 lakh investors having claim amount up to Rs 8,000, initiated the process of refund to investors with claim amount between Rs 8,001 and Rs 10,000, and has effected payment with respect to 2.76 lakh investors, it added. … [Read more...] about 12 lakh PACL investors with claims up to Rs 10,000 get their money back: SEBI

Citing the example of the Kotak Standard Multicap Fund scheme, which has an AUM size of Rs 29,714 crore, has just 1 percent exposure to smallcap funds. Its exposure to midcap space is 18.3 percent. It means that the fund manager must allocate Rs 7,000 crore to smallcap category and around Rs 2,000 crore to midcap category, while the largecap category of this scheme will see an outflow of at least Rs 9,000 crore. … [Read more...] about Sebi’s multi-cap fund norms may see Rs 25-35K crore move from largecaps to mid and smallcaps

The Securities and Exchange Board of India (Sebi) on September 13 clarified that multi-cap schemes need not necessarily churn their portfolios by selling largecap stocks or buying smallcaps in multi-cap schemes to meet the new norms, but can also exercise options such as merging schemes with largecap funds, re-positioning them as large- and midcap schemes, or facilitating unitholders' switch to another scheme. … [Read more...] about Sebi says mutual funds can merge multi-cap schemes, or re-position under different category

Now, even if a slightly higher-rated company goes for restructuring, mutual funds can segregate the asset if they had been holding them in their portfolios. Segregating such securities that go for restructuring would also ensure that fund houses do not rush to sell such securities and cause the bond’s price to fall further. It also ensures that opportunistic investors do not enter the scheme knowing fully well that the restructuring company would later repay interest or principal and thereby causing an increase in the fund’s NAV. Side-pocketing ensures that only those investors who were invested in the fund on the day the underlying company submitted its debt restructuring plan, benefit from the recovery. … [Read more...] about COVID-19 impact: SEBI allows MFs to use side-pocket in event of debt restructuring

Bharat Dynamics (BDL) has informed the exchanges the government will sell up to 18,338,125 equity shares or 10 percent of the total issued paid up capital of the company for face value of Rs 10 each on September 8 (T Day – for retail investors) and September 9 (T+1 Day – for non-retail investors). … [Read more...] about Centre to sell 10% stake in Bharat Dynamics, may sell additional 5% in case of oversubscription