Latest Indian Mutual Fund News | 07-July-2011


1.Karvy Computershare to buy majority in Bahrain co.

Financial services firm Karvy said one of its group companies will acquire a majority stake in Bahrain Shares Registering Company WLL (BSRC), the Gulf country’s biggest securities registry. Karvy Computershare Private Limited, the 50:50 joint venture between Karvy and Australia’s Computershare, have entered into a “definitive agreement” with KPMG Fakhro to acquire a majority stake in its affiliate, Bahrain Shares Registering Company WLL, a release issued here said.

The 35-year-old BSRC is the largest player in the securities registry business in Bahrain, serving 90% of listed companies in Bahrain, and the acquisition is part of Karvy Computershare’s West Asia expansion strategy, it said. “This acquisition would help us create a path-breaking process for servicing investors in the (West Asia) region,” the company’s CEO, V Ganesh, said.


2.Mutual funds may face Sebi fury over casual voting.


Mutual funds may soon face some tough questions from market regulator Sebi regarding the exercise of their vote on key business proposals of the companies in whose shares they have put in investors’ money. The market watchdog is irked by the casual approach adopted by most of the funds when it comes to voting on proposals put forth by the company management for shareholder approval, as also the disclosure of these votes, a senior official told PTI.


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