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RBI holds rates. Hereโs what debt mutual fund investors should do
Money Control
ยท
1y ago
Medial
The Reserve Bank of India (RBI) has kept its key repo rate unchanged at 6.5 percent for the seventh consecutive time. This decision has narrowed the window for investors to maximize gains from debt funds. The growth and inflation projections for the fiscal year remain at 7 percent and 4.5 percent respectively, and the voting stance remains consistent at 5-1. Experts believe that this is a good time to invest in fixed-income products and lock in high yields across various products such as government bonds, corporate bonds, and fixed deposit instruments.
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Indian equity market is 'attractive', says Union Mutual Fund; shares mantra to beat market volatility
Business Today
ยท
3m ago
Medial
Union Mutual Fund has upgraded the domestic equity markets to the โAttractive Zoneโ in its fair value spectrum indicator, suggesting that the market holds potential benefits for investors. The fund advises a minimum investment period of five years to navigate market volatility effectively. Business Today highlights that this information serves purely informational purposes and should not be regarded as investment advice, recommending consultation with financial advisors for investment decisions.
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IL&FS Mutual Fund Pays Rs 262 Cr to Debt Infra Investors; Rs 1,900 Cr Total Payout in Last 6 Yrs
OutlookIndia
ยท
2m ago
Medial
IL&FS Mutual Fund has distributed Rs 262 crore to investors in its infrastructure debt fund, taking the total payouts to Rs 1,900 crore over six years. The IL&FS Infrastructure Debt Fund Series 3B was redeemed on May 7, yielding an 8% annual return since inception. Managed by IL&FS Infra Asset Management Ltd., the fund targets banks, pension funds, and insurance companies. The Indian government took control of IL&FS in 2018 to stabilize the financial market.
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Right time to invest in fixed income for stability, says LIC Mutual Fund's Marzban Irani
Money Control
ยท
1y ago
Medial
Marzban Irani, the CIO of Fixed Income at LIC Mutual Fund, suggests that now is the ideal time to invest in debt. According to Irani, yields have been decreasing consistently, making it a favorable environment for debt investments. He also highlights the importance of understanding the risks associated with consumer credit and advises potential investors to be cautious.
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Zeeโs largest shareholder, ICICI Prudential Mutual Fund, sells 42% of holding
Livemint
ยท
1y ago
Medial
ICICI Prudential Mutual Fund, the largest shareholder of Zee Entertainment Enterprises Ltd., has sold 42% of its holding in the company following the cancellation of the merger between Zee and Sony Corp. ICICI Prudential Mutual Fund's stake now stands at 5.09%, making it the third-largest shareholder. Nippon Mutual Fund is now the largest shareholder with 6.12%, while Life Insurance Corp of India holds 5.12%. The sale of shares earned ICICI Prudential Mutual Fund โน365.7 crore ($49.7 million). The buyer of the shares remains undisclosed.
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Mutual fund industry pushes for LTCG tax exemption on shares, equity funds after 3 years
Money Control
ยท
11m ago
Medial
The Association of Mutual Funds of India (AMFI) has made several suggestions for the upcoming budget. They propose that long-term capital gains on listed shares or units of equity-oriented fund schemes be taxed at 10% for gains exceeding Rs 2 lakh, and gains from assets held for more than three years should be exempt from tax. AMFI also requests tax concessions on debt mutual funds, revision of the definition of Equity Oriented Funds, parity in taxation on commodity funds, alignment of tax treatment for pension MF schemes and NPS, an increase in the threshold limit of withholding tax, and the introduction of a Debt Linked Savings Scheme.
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Hike in capital gains tax only a temporary concern, say MF players
Money Control
ยท
11m ago
Medial
Association of Mutual Funds (AMFI) CEO Venkat Chalasani has welcomed the increase in the exemption limit for long-term capital gains (LTCG) tax proposed by the Indian government. Finance Minister Nirmala Sitharaman recently announced an increase in both long-term and short-term capital gains tax rates, which surprised the mutual fund industry. However, industry participants believe that the impact on investors will be temporary and not serious. The increase in the LTCG exemption limit to INR 1.25 lakh per year is expected to benefit lower- and middle-income groups. Experts believe that the tax changes will have a minimal negative impact on the mutual fund industry.
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Emergence of thematic funds sign of a growing market, say MF CIOs
Money Control
ยท
10m ago
Medial
Mutual Fund CIOs at the Moneycontrol Mutual Fund Summit discussed the changing investment landscape and the emergence of new products. Roshi Jain from HDFC Asset Management emphasized that as the market has grown, it has created niches which fund houses are trying to address. Sanjay Chawla from Baroda BNP Paribas Mutual Fund urged investors to question the durability of emerging themes before investing. Dinesh Balachandran from SBI Mutual Fund stressed on the importance of conviction while launching new NFOs. Ashish Gupta from AXIS Mutual Fund stated the need for broad-based themes that allow active management and provide opportunities to investors.
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How to get the best education loan? Hereโs a primer
Money Control
ยท
1y ago
Medial
Education loans can be used to cover college fees, hostel fees, books, equipment, and other study-related expenses. They can also be used for travel expenses if studying overseas. Interest rates for education loans range from 8.10% to 13.70% per annum as of March 27, 2024. While interest rates are important, one should also consider eligibility criteria, maximum loan amount, and collateral requirements when applying for an education loan.
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Private credit booms but RBI curbs cloud outlook
VCCircle
ยท
1y ago
Medial
In 2023, the private credit market in India experienced a surge in activity, attracting both local and global debt investors. This was in contrast to traditional lenders, such as banks, who tightened borrowing norms and increased interest rates. However, the growth of the private credit asset class was hindered by the Reserve Bank of India (RBI), which implemented regulations that dampened the overall outlook for private credit.
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DSP Mutual Fund acquires Volt Money
Entrackr
ยท
4m ago
Medial
DSP Mutual Fund has acquired Volt Money, a platform providing instant secured loans against mutual funds, according to three sources aware of the development. โThe two companies were in talks for the past few months and the deal ultimately closed last month. Following the acquisition, Volt Money key team members will join DSP Mutual Fund,โ said one of the sources requesting anonymity as talks are private. Volt Money collaborates with lenders and distribution partners to provide instant secured loans with favorable terms. The company offers credit lines ranging from Rs 25,000 to Rs 1 crore, with interest rates starting at 9% and flexible repayment options. Led by Lalit Bihani, Ankit Agarwal, and Bharat Lamba, the firm raised $1.5 million in a Seed round led by Titan Capital and All In Capital, with participation from individuals including Praveen Jadhav of Raise Ventures, Aditi Kothari of DSP Adiko Holdings, Gemba Capital, Kunal Shah of Cred, and Ashish Kehair and Rahul Jain from Nuvama Wealth. Managed by DSP Investment Managers, DSP Mutual Fund offers investment products across equity, debt, hybrid, and international funds. According to sources, the deal did not provide significant returns for investors. โVolt was unable to secure a follow-on round after its seed funding, but this is a reasonable outcome for the founders,โ said another source who wished to remain anonymous. Queries sent to Volt Money and DSP Mutual Fund did not elicit responses until publication of the story. Volt Money competes with Quicklends and DhanLap. Last year, fintech unicorn BharatPe also entered the loans-against-mutual-funds space through a partnership with Volt Money.
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