As a "contingency measure", RBI will conduct a special 3-day repo auction under which banks would be encouraged to raise funds.
Mutual fund investors can issue a power of attorney to a designated person in order to operate their folios and conduct transactions on their behalf.
Market participants attributed the sharp fall in folios to profit booking and various merger schemes in the mutual fund industry, among others.
Mutual fund houses flocked back to the equity markets in June, after avoiding them for nearly two years, investing Rs 937 crore in stocks.
Axis Mutual Fund has launched a closed end income fund, Axis hybrid Fund Series 5. Fund will invest in high quality fixed income securities.
BNP Paribas Mutual Fund has launched a closed end income fund - BNP Paribas Capital Protection Oriented Fund - Series II (35 months and 9 days).
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Investors pumped in more than Rs 37,000 crore in various mutual fund schemes in May.
Axis Mutual Fund today launched a new fund that largely invests in fixed income instruments and a portion in equity and equity-related products.
"Mutual fund products need to be simplified if they have be sold to the
masses through public sector bank channels," the report said.
To avoid misselling, mutual funds need to create simple, well-defined products so that advisers can choose them as per the specific needs of investors.
The primary objective of a mutual fund is to perform better than a passively constructed portfolio, which is called a benchmark.
A letter requesting a change of karta needs to be sent to the concerned asset management company.
The decision has been taken by the mutual fund industry body and self-regulatory organisation AMFI in consultation with capital markets regulator Sebi.
Karvy Capital, the asset management arm of financial services provider Karvy Group, today launched first hedge fund named 'systematic edge fund'.
