Domestic mutual funds have sought a beneficial tax treatment for foreign institutional investors (FIIs) and foreign HNIs to encourage them to invest in Indian funds. Asset managers of several funds said the capital markets regulator should also allow them to create a differential share class to attract foreign investment. The Sebi had earlier this month allowed qualified foreign investors (QFIs) to invest up to $10 billion in equity-based funds in an attempt to liberalize the portfolio investment route and widen the foreign investor base of the equity markets.
News Source – ECONOMIC TIMES.
UTI Mutual Fund today said it has tied up with Canara Bank Securities' for distribution of its schemes. Under the strategic agreement, Canara Bank Securities will offer various schemes of UTI Mutual Fund through its online platform, UTI MF said in a statement. "With this tie-up, customers of Canara Bank Securities will be able to invest online in the various schemes of UTI Mutual Fund. The tie-up with Canara Bank Securities will give UTI Mutual Fund an opportunity to reach out to wider segment of the society," UTI Asset Management Company Group President and Chief Marketing Office Jaideep Bhattacharya said.
News Source – MONEY CONTROL.
The recent fall in Indian equity markets has prompted retail investors to go for lumpsum investments into equity funds. According to markets participants, more number of investors have entered equity funds through lumpsum against systematic investment plan (SIPs) in August. Lumpsum investments went out of favour in the last two years after market regulator Securities and Exchange Board of India (Sebi) imposed ban on entry load (from August 2009). Volatility in equity markets also discouraged investors.
News Source – FINANCIAL EXPRESS.