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Indian regulator asks fund managers to stop investing in overseas ETFs

Reuters · 1y ago

Indian regulator asks fund managers to stop investing in overseas ETFs

India's market regulator, the Securities and Exchange Board of India (SEBI), has instructed asset managers to halt inflows into schemes that invest in overseas exchange-traded funds (ETFs) from April 1. The directive comes as Indian mutual funds are nearing the $1 billion limit set by India on overseas ETF investments. The reason for the directive was not disclosed. The Association of Mutual Funds in India (AMFI) sent out an email notifying asset managers of the decision. Neither SEBI nor AMFI have provided further comments or clarification on the matter.

Related News

SEBI asks mutual funds to stop accepting inflows in ETFs investing overseas

Money Control

Money Control · 1y ago

SEBI asks mutual funds to stop accepting inflows in ETFs investing overseas

The Securities and Exchange Board of India (SEBI) has instructed the Association of Mutual Funds of India (AMFI) to stop accepting investments into funds that invest in overseas ETFs from April 1. This decision follows the mutual fund industry having reached its $7 billion limit for investing in foreign stocks and funds in January 2022. The limit for investing in overseas ETFs is $1 billion, which is close to being reached. As a result, fund houses will be required to halt investments in these funds.

Mirae Asset expands investment opportunities with new ETFs and Fund of Funds

YourStory

YourStory · 5m ago

Mirae Asset expands investment opportunities with new ETFs and Fund of Funds

Mirae Asset Investment Managers (India) Pvt. Ltd. has launched four New Fund Offers (NFOs), including two Exchange Traded Funds (ETFs) and their corresponding Fund of Funds (FoFs). These funds aim to provide structured exposure to IPOs, spin-offs, and an equal-weight strategy for India's top 200 stocks. The NFOs will open for subscription in February 2025, with a minimum investment of Rs 5,000. ETFs offer advantages like low cost, liquidity, diversification, and transparency.

Hong Kong set to approve its first spot bitcoin ETFs in April

Economic Times

Economic Times · 1y ago

Hong Kong set to approve its first spot bitcoin ETFs in April

Hong Kong may become the first city in Asia to launch spot bitcoin exchange-traded funds (ETFs) this month, with approvals expected as early as next week. This acceleration in the approval process is aimed at boosting Hong Kong's appeal as a financial trading hub. Several mainland Chinese and Hong Kong asset managers, including China Asset Management, Harvest Fund Management, and Bosera Asset Management, have submitted applications for the ETFs. The introduction of these ETFs could attract global investment and further drive crypto adoption.

Mutual Funds: Why have funds that topped rankings in 2019 plummeted?

Money Control

Money Control · 1y ago

Mutual Funds: Why have funds that topped rankings in 2019 plummeted?

The article discusses the pros and cons of mutual fund investing in India as the industry crosses the Rs 50 lakh crore milestone. It highlights the convenience and diversification benefits of mutual funds, yet points out their imperfections such as underperformance, high fees, and fluctuations in performance. The analysis of different fund categories reveals the fluctuating rankings of funds based on one-year returns. The reasons behind this fluctuation include migrating managers, asset growth challenges, herding behavior, and expenses. The article suggests considering parameters like Sharpe ratio, downside capture, AUM, and expense ratio while selecting funds. It also explores the option of index funds and ETFs as an alternative for passive investors.

Mutual funds call for easing RBI's limit on overseas investments amid growing opportunities

Money Control

Money Control · 1y ago

Mutual funds call for easing RBI's limit on overseas investments amid growing opportunities

The Securities and Exchange Board of India (SEBI) has instructed mutual funds to cease accepting subscriptions for investments in overseas ETFs from April 1, 2024, to avoid exceeding the $1 billion investment limit. This decision has sparked discussions about raising the investment limits for mutual funds in overseas markets, particularly as the existing limit of $7 billion has been exhausted for over two years. While the mutual fund industry has been requesting an increase, the Reserve Bank of India (RBI) has not revised the limit since 2007-08. Some argue that raising the limits would provide Indian investors with more diversification opportunities and professional money management, but others point out potential risks in terms of market volatility.

Is this right time to invest in gold? Here's what fund managers have to say

Money Control

Money Control · 1y ago

Is this right time to invest in gold? Here's what fund managers have to say

Gold exchange-traded funds (ETFs) in India experienced outflows totaling INR 395.69 crore in April, marking the first monthly outflow in a year. Despite this, fund managers believe that gold will continue to be a relevant and safe hedge for investors during periods of market volatility. Gold ETFs have historically grown during challenging times and the asset under management of these funds increased by about 150% in 2020. Additionally, the popularity of gold as an investment strategy is attributed to its exceptional performance, with the compound annual growth rate exceeding 50% in the domestic market.

Hong Kong set to approve its first spot bitcoin ETFs in April

Economic Times

Economic Times · 1y ago

Hong Kong set to approve its first spot bitcoin ETFs in April

Bitcoin exchange-traded funds (ETFs) may be launched in Hong Kong this month, making it the first city in Asia to offer such products. Regulators have accelerated the approval process, indicating a strong desire to improve the city's attractiveness as a financial trading hub. Several Chinese and Hong Kong asset managers, including China Asset Management, Harvest Fund Management, and Bosera Asset Management, have reportedly submitted applications for spot bitcoin ETFs. The move is significant as it could bring in new global investments and boost crypto adoption. In January, the US launched its first exchange-traded funds for spot bitcoin, attracting around $12 billion in net inflows.

Former Sequoia India firm launches new fund for early ventures

Economic Times

Economic Times · 1y ago

Former Sequoia India firm launches new fund for early ventures

Peak XV Partners, previously known as Sequoia India & Southeast Asia, is launching a new fund called the Peak XV Anchor Fund. The fund will invest in global seed and early venture funds, as well as other investment opportunities outside of its existing portfolios. The Anchor Fund will be supported by an internal capital pool, and the firm plans to partner with other fund managers across various regions and sectors. The new fund aims to retain talent within Peak XV and will start investing in April. Previously, as part of Sequoia Capital, the firm raised $2.85 billion in 2022 for investments in Indian and Southeast Asian startups.

IVCA Announces Newly Elected Executive Committee

Inc42 · 1y ago

IVCA Announces Newly Elected Executive Committee

The Indian Venture and Alternative Capital Association (IVCA) has announced its new executive committee (EC) for the term of 2024 to 2026. Ashley Menezes of ChrysCapital is the new chairperson, while Sriniwasan Subramanian of Kotak Alternate Asset Managers Limited is the vice-chairperson. The EC aims to enhance ease of investing and mobilize domestic pools of capital. IVCA has previously engaged with government entities to balance regulations and champion responsible investment practices, as well as launch a peer-to-peer knowledge-sharing model for first-time fund managers.

What investment opportunities does Gift city offer to NRIs?

Money Control

Money Control · 10m ago

What investment opportunities does Gift city offer to NRIs?

The GIFT International Financial Services Centre (GIFT IFSC) in India is gaining traction as a wealth management destination for high-net-worth individuals. It offers opportunities for fund managers to raise money from international investors, while also allowing Indian funds to launch products with investments in overseas jurisdictions. Banks are permitted to open accounts for managing international investments, and several leading banks have already established branches in GIFT city. Investment opportunities are available through the alternative investment fund (AIF) route, with a minimum investment size of $150,000. The GIFT IFSC aims to create a world-class finance and IT zone for India's financial services industry.

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