Tag: equity funds

PM Modi meets private equity, venture capital players; seeks suggestions to attract more capital

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Prime Minister Narendra Modi on Friday hosted the roundtable interaction with representatives of venture capital and private equity funds in a bid to boost the investment climate of the country.

Prime Minister sought suggestions towards improving Ease of Doing Business in India, attracting more capital and furthering the reform process in the country. He appreciated the practical suggestions received from the representatives and said the government is committed towards working to resolve the issues and challenges highlighted, a statement from the Prime Minister’s Office said.

He discussed the efforts undertaken by the government to bring in more reforms, future potential of initiatives like PM GatiShakti, and steps taken to reduce the unnecessary compliance burden. He also mentioned the innovation happening in India at the grassroot level and the boost to the startup ecosystem, the statement read.

Also Read: Rs 1,300 crore returned to depositors that was stuck with stressed banks: PM Modi

Praising the initiatives taken to boost the Startup ecosystem in the country, Siddarth Pai termed the Prime Minister as the ‘Startup Prime Minister’. The venture capital and private equity fund representatives praised the Prime Minister for his leadership which has been a prime driving force behind the massive boost to the investment climate in the country.

The venture capital and private equity fund representatives also talked about the entrepreneurial potential of the country, and how it can be leveraged so that our startups can attain global scale.

Accel’s Prashant Prakash highlighted the opportunities that are present in the agri startups. Rajan Anandan from Sequoia suggested working towards making India the global hub in education by leveraging technology.

Also Read: IMF Chief Economist Gita Gopinath calls on PM Modi

India Resurgent’s Shantanu Nalavadi praised the reforms undertaken by the country in the last 7 years especially the step to set up the Insolvency and Bankruptcy Code (IBC). Blackstone’s Amit Dalmia said India is among the best performing geographies for the Blackstone (funds) globally.

HDFC’s Vipul Roongta praised the policy initiatives that have been taken by the government, in the housing sector especially in the affordable housing segment.

Gopal Srinivasan, chairman and managing director of TVS Capital said the meeting was wonderful and the PM was very motivating. He said it was absolutely correct to call Modi as the Startup Prime Minister as he started Startup India and even today he only spoke about startups in every aspect – rural business, agri business & holistic business.

Also Read: Technology firms should contribute to preserving democratic societies: PM Modi at Biden’s virtual summit

Munish Varma of Softbank said, “The investment climate in the country has become much more positive. We have seen that in the amount of capital that has come into our country, we have seen that in the amount of entrepreneurs that are being created, we have seen that in public markets, so overall it was a great interaction with the PM. He had some phenomenal insights and gave some very good suggestions.”

Prashant Prakash of Accel said, “It was a great opportunity to interact with the Prime Minister. I presented the idea of this being the moment to encourage agri startups. He clearly saw the same vision. It was his view that agri startups, especially FPOs will have a key role to play in helping double farmer’s income which is his core vision.”

Rajan Anandan of Sequoia said, “The Indian startup ecosystem has come a long way. If you go back 10 years ago, we had no unicorns, this year at end of 2021 we will have over 70 unicorns. In fact this year we have doubled the number of unicorns. 10 years ago we had less than a billion dollars of funding per year going into startups, this year we will have over $30 billion. I credit a large part of this to the extraordinary focus that our PM Modi as well as our government has had on startups. The whole Startup India movement really started accelerating since about 2015 and every year the movement is getting stronger and stronger.”

Also Read: PM Modi chairs meet on COVID-19 situation amid new Omicron variant concerns

Sandeep Naik of General Atlantic said, “The interaction that we had with the PM was amazing. The intent with which the PM was listening to every single input and the recommendations from the people in the meeting was very deliberate and was very clear that there are big changes coming in India. From an investment standpoint we are extremely bullish about India because of the steps that the government has taken, because of the entrepreneurial energy and because of the environment that Startup India has created.”

Siddharth Pai of 3one4 Capital said, “It has been a privilege for us to sit across the table with a Startup Prime Minister. Modi invigorated the nation. India as a nation right now is full of dreamers who no longer go to Bollywood to become actors, they come to Bengaluru to become entrepreneurs and that is a change that PM has brought about. Through this change, the economic development and India becoming a $5 trillion economy by 2025 is a dream that all entrepreneurs hold very close to their heart and is something that all of us will bring to fruition and reality.”

The representatives also discussed the opportunities that are emerging because of India’s exemplary climate commitments including the ones in the sphere of energy transitions. They also gave inputs about areas like FinTech and financial management, software as a service (Saas) etc. They also praised the Prime Minister’s vision of making India a 5 trillion economy.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Thematic funds: Should you invest?

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Thematic funds are equity mutual funds that invest in stocks tied to a theme such as multi-sector, international exposure, export-oriented, rural India, etc. With markets showing signs of consolidation after the recent bout of volatility, a lot of investors may be planning to shift or diversify towards thematic funds.

We reached out to a few experts to understand when is the right time to invest in thematic funds and the pros and cons of putting your hard-earned money.

For starters, investors in thematic funds must clearly understand that it may take a long gestation period and may not yield good results immediately, said Anup Bansal, Chief Investment Officer at Scripbox.

“Unlike sector funds which tend to be cyclical and therefore have timing risk, thematics carry higher opportunity cost as the theme may not play out for a long time post investing in the theme. For example, the alternative energy theme or infra theme has not done well so far even though as a theme they were identified 10 to 15 years back,” Bansal told CNBC-TV18.com.

Some of the themes may appear as unique themes but could already be a major component in a well-diversified mutual fund and therefore, further investment in a broad-based theme creates an overlap leading to lesser diversification, he added.

For example, Bansal said that ESG as a theme may already be covered because all futuristic companies have to score high on ESG parameters and therefore a mutual fund manager of a non-thematic fund may run his selections including ESG criteria.

Does that mean one should completely avoid investing in thematic funds?

Answering this, Prateek Singh, Founder and CEO, LearnApp.com said that a beginner investor shouldn’t invest in thematic funds.

“A beginner investor, investing in a particular sector that is a theme, maybe completely wrong, and maybe investing at the wrong time of the cycle. A few beginner investors may select an incorrect theme and see the stock market rise but not their stocks. Therefore, for beginner traders, thematic funds do not make sense,” Singh told CNBC-TV18.com.

Asset classes such as equity, bonds, gold etc. move in cycles, hence they sometimes do well and vice-a-versa. No one knows when these cycles come and go, however, all we know is that these assets move in cycles.

For slightly more experienced investors who already have a portfolio that is diversified and have invested in an index fund or already have an investing strategy, Singh said, can allocate a small portion of the capital to thematic investing.

Concurring with Singh’s views, Bansal of Scripbox said that it may be better to have a well-diversified mutual fund portfolio in the home country portfolio and supplement that with a thematic investment in a foreign country portfolio.

“Developed countries offer good themes like green technologies, biotech, climate change and importantly, in ETF formats. Preferably, passive investment in themes is a good combination with active diversified funds,” Bansal said.

“In conclusion, if a theme is mainstream then it would be covered under a well-diversified mutual fund portfolio. If the theme is futuristic then it is better to watch and then allocate higher weights to the theme as it could take a long time to actually play out. Investors would need to be patiently invested for a very long time in futuristic themes. Also, one should have a good understanding of the theme and its potential before investing. Since some themes may or may not work out, investors should put a rigorous monitoring and review process to take post-investment decisions of buy more, hold or exit,” he suggested.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

How to invest in international mutual funds

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Investment in an international mutual fund is getting more popular as it is generally believed that all global stocks will not fall together in normal circumstances. Investments in global stocks can be made through direct investments, ETFs, global mutual funds and fund of funds.

This category is quite popular as investing in global mutual funds, the investors hedge their risk by investing in domestic as well as global stocks. International mutual funds invest in various countries and stocks including domestic stocks. Domestic fund houses also provide access to investment in global companies under various schemes floated specifically for such investments.

All the major fund houses in India provide window for global investments under various schemes. The schemes are well defined and the characteristics of the product offering are defined in the key information memorandum which is approved by SEBI.

The process of investment in domestic mutual funds is established and hassle-free. Investors intending to invest in foreign stocks can go through domestic mutual funds that have schemes mandated to invest in foreign stocks. PGIM India global equity opportunities fund, Nippon India US opportunity fund ICICI Prudential US blue-chip, DSP US flexible equity fund, Aditya Birla life GLOBAL emerging fund are some of the prominent mutual funds that have created a platform for investment overseas.

The investor’s interest in the international mutual funds is reflected by the fact that in the year 20-21 overseas investment increased by 300 percent amounting to Rs 12,400 crores as assets under management folios also jumped steeply to 6.97 lakh. Retail and HNI have invested heavily over the years.

The process of investment is simple and similar to investment in domestic mutual funds. Technology has been the catalyst that has enabled investors to invest in a faster hassle-free environment. In the year of pandemic and lockdown, mutual’s have upgraded the platforms so that there is no disruption.

The investment can be made in Indian Rupees and redemption is in Indian rupees. Investing in an overseas Mutual Fund which is non-domestic has its own challenges in terms of the methodology of payment, foreign exchange fluctuation and taxation. The most preferred investment vehicle is through domestic fund houses as data and performance are readily available.

For investors who have a strong domestic presence the most efficient mechanism is to invest through domestic fund houses who in turn invest through various schemes in foreign stocks. The pattern of investment in international mutual funds is different from that of investments in domestic mutual funds.

An aspect that needs to be factored in this is that it is always better to invest medium or long-term perspective as one foreign stock give a good return over a period of time. Short-term investments in international mutual funds have witnessed volatility and thus should be avoided. Non-resident Indians have the liberty of investment from the country of residency. International mutual funds have delivered a return of 27 percent in the last year. The three-year return is around 12 percent and the five-year return is approximately 13 percent. Investors still have the option to choose country-specific investments through domestic fund houses. There are specific schemes for investments predominantly in US-based stocks. Today the investor is equipped with data wherein fund performance is available along with NAV and returns.

Ease of investing, technology upgrades and low fixed deposit rates have encouraged investors to invest through international mutual funds. The tendency of investors is also to mitigate risks by diversifying their portfolios across global markets and stocks. This is just the beginning as investors would certainly opt for such options as more domestic fund houses launch vehicles to invest allowing them liberty to choose schemes based on performance.

The author, S Ravi is Former Chairman at Bombay Stock Exchange and Founder of Ravi Rajan & Co. The views expressed are personal

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

COVID India fallout: Second wave erodes equity fund inflows but rebound possible, says expert

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The massive surge in COVID-19 cases during the second wave of the pandemic in India is alarming foreign institutional investors and has knocked off inflow of equity funds to the country, said Cameron Brandt, director of research at EPFR Global in an interview to the Business Standard.

“The second wave of COVID-19 has knocked a modest rebound inflow of equity funds to India on the head. Mutual fund investors were already treating India’s reflation. For example, the first wave peaked in mid-September but India equity funds did not see flow rebound until January 2021. But the most recent International Monetary Fund forecast predicts double-digit economic growth this year, so the potential for a rebound in foreign interest is still there,”  said Brandt in the interview.

Explaining about how big money has moved across geographies and asset classes over the past few months during the COVID-19 pandemic, Brandt said Asia was an attractive market between December 2020 and the end of January 2021, pulled $55 billion from EPFR-tracked European and North American equity fund groups, while steering over $18 billion into the Asia Pacific and Asia ex-Japan equity funds. But after the fiscal stimulus in the US and its expected impact on economic growth, the scenario has changed.

At the beginning of the second quarter, $36 billion flowed into North American and European equity funds. And this has led to a dramatic re-rating of the US at the expense of other markets, he added.

Regarding the outflow in gold exchange-traded funds and risk-reward equations in debt funds, he said outflows in gold are a reflection of the scepticism surrounding the Fed’s inflation narrative. For debt funds, the risk-reward equation looks unfavourable, except when the equation’s results are compared with those of the alternatives.

About the commodity market, he said the latest inflow in commodity funds was the 26th in the past 28 weeks. A combination of rebounding economic activity and a tight supply picture has caused this inflow.

For the S&P Dow Jones introduction of cryptocurrency indices, he mentioned that even though there is a big inflow in these funds they remain a small part of the overall mutual fund industry.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Inflows in equity funds decline since March; largecap funds outperform

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The inflows into equity funds continued but the pace declined over the last two months, a recent report by ICICI Direct stated. May inflows in equity mutual funds stood at Rs 5,257 crore as compared to Rs 6,213 crore in April and Rs 11,723 crore in March 2020.

In the last four months, between February and May, the equity markets have witnessed a roller coaster ride. While equity markets corrected around 40 percent from February highs to March lows but later recovered 35 percent from lows.

“While investors seem so much worried about COVID-19 related market fall, in the last six months, market cap funds (large/mid/small/multi-cap) category’s average return is between -12 percent and -14 percent,” the report quoted.

Sectorally, it has been an extremely polarised market with the pharma sector outperforming significantly while banking witnessed the brunt of NPA concerns due to the countrywide lockdown, added the note.

The report also stated that retail investors, however, have shown significant maturity by continuing investment at lower levels as well with SIP inflows in May remaining well above Rs 8,000 crore-mark.

It further mentioned that large-cap funds witnessed higher inflows in two months, while small-cap and midcap funds saw reduced inflows due to a sharp sell-off and a weak environment made investors cautious.

“We continue to prefer multi-cap funds as they offer fund managers the flexibility to allocate funds across all market segments, especially in the current market where many smaller cap stocks offer a good investment opportunity,” the brokerage house said.

It also advised that investors may also consider investing lumpsum amounts in midcap/small cap funds from a long term perspective.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Redemptions in equity funds flat MoM but inflows are up, says Subramaniam of Sundaram Mutual Fund

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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With the coronavirus outbreak spreading across the globe, there is impact seen on various equity markets and other asset classed. Sunil Subramaniam, MD & CEO of Sundaram Mutual Fund talking about its impact on MF industry, said at the retail levels customers are not worried about equity market volatility.

Speaking about the month of March, he said, “The flows have continued to remain strong in the first week of March. In fact, when there was a severe correction last week, the flows were positive in terms of gross inflows. I am surprised to see the resilience at this point of time of the retail investor. So you can say that the investor has matured or the fact that domestic investors are still looking at it from a positive view in the market and the view continues for this month.”

The redemptions in equity funds are flat month on month but inflows have gone up, he said, adding that debt funds continued to be challenged especially with AT-1 write-offs.

“Retail investors over the last few months have been more worried about debt than about equity and that’s reflecting in their thought process,” added Subramaniam.

When asked about ETF inflows, he said, “Provident funds are allocating money into ETFs and that’s largely institutional money flow which has gone into the ETFs. Provident funds are permitted to put 5-10 percent into equities but they take a call based on valuation.”

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

FundsIndia Review: Why you should consider Parag Parikh Long Term Equity Fund

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Looking to invest in a long term equity fund? FundsIndia has a suggestion for you.

Parag Parikh Long Term Equity Fund adheres to the value style of investing and selects stocks across market cap (large, mid and small-sized companies). It follows the buy-and-hold strategy and manages a concentrated portfolio of a few high-conviction stocks.

Global exposure: The fund’s exposure to global stocks provides investors with a hedge against country-specific risk.

Minimises downside risk: The fund has been successful at reducing downsides. That is, it has performed better than its benchmark, Nifty 500 TRI in periods when the markets fell. The fund takes cash calls when pricey valuations make it difficult to find suitable investment opportunities.

Consistent performance: The fund has generated average rolling returns of around 15 percent over the 3-year and 5-year periods. It has outperformed the Nifty 500 TRI on average by 1.3 – 2 percentage points.

Searching for value in India and globally 

The fund invests in value stocks (those trading below their intrinsic value) from across Indian and global companies. It chooses stocks across market cap depending on where valuations are attractive.

Global exposure diversifies risk

The fund’s exposure to foreign securities helps diversify country-specific risk. It also gives investors the opportunity to invest in companies (such as Facebook, for instance) that may not have Indian counterparts. It can invest up to 35 percent of its corpus in foreign equity securities.

Buy and hold philosophy

The fund follows a longer-term approach via the ‘buy and hold’ strategy. Nearly 41 percent of the fund’s December 2019 corpus was in stocks that it had held for at least 4 years. This approach is also reflected in the low portfolio turnover ratio of 5.3 percent (excluding equity arbitrage) in December 2019.

Concentrated portfolio

The fund holds a concentrated high-conviction portfolio of a few stocks that are not churned frequently. The top 10 holdings accounted for 65 percent of its corpus in December 2019.

 Minimises downside risk in the bad years – falls less than the benchmark 

Downside capture ratio far below 100 percent

The fund has managed downsides well as indicated by its Downside Capture Ratio (DCR) of 35 percent for the period May 2013 (inception) to December 2019. The fund buys stocks only at reasonable valuations and is therefore able to limit the downside (from thereon) effectively. This is true for other well-managed value funds too.

The DCR provides a snapshot view of a fund’s ability at containing downsides. A value less than 100 percent indicates that the fund returns have fallen less than the benchmark index returns (or the fund has captured less of the downside) in periods when the markets fell. Lower the ratio, the better it is.

Shows lower drawdowns over time

Alternatively, one can also look at the Maximum Drawdown Chart to see how a fund has performed in the down-market years.

The chart plots the daily fund (Nifty) returns. That is, the change in the fund NAV (Nifty Index) each day relative to the highest fund NAV (Nifty Index) up till that day, over a period of time.

Simply put, it shows the extent of fall in the fund NAV (Nifty Index) each day compared to the previous peak until then.

As you can see, fund returns have fallen less than the Nifty 500 TRI returns.

The table below picks out a few cases of sharp drawdowns for the Nifty 500 TRI from the chart. As you can see, the fall in fund returns is not as steep as that in the Nifty 500 TRI returns.

Displays lower intra-year volatility

The picture becomes clearer still when we look at the Intra-Year Drawdowns. Here we isolate the sharpest drawdowns for each year for the fund and the Nifty TRI.

Let’s take 2015 for instance. While the steepest drawdown (from the peak to the trough for the year) in the fund returns was minus 9 percent, that for the Nifty 500 TRI was minus 13 percent. Please note though, the steepest drawdowns are starkly different from the yearly returns for 2015.

The fund and the Nifty 500 TRI returns for 2015 (from January 1 to December 30) were 8.7 percent and 0.04 percent respectively. That is, both the fund and the broader markets closed the year positively. What the drawdowns reflect is intra-year volatility – the sharpest falls in the fund and the index returns – during the year – and not between the first and the last day of the year.

Consistent performer

Parag Parikh Long Term Equity Fund has outperformed the Nifty 500 TRI and also its peer funds over the 3-year and 5-year periods on a rolling-return basis. For instance, over a 5-year period, the fund has beaten the benchmark 100 percent of the times with the average outperformance being 2.1 percent points.

On an absolute rolling return basis too, the fund has fared well. For example, the fund has given returns exceeding 10 percent over a 5-year period, 100 percent of the time. See the tables below for more details.

Experienced fund managers

Parag Parikh Long Term Equity Fund is managed by Rajeev Thakkar (CIO and Equity Fund Manager) and Raunak Onkar (Fund Manager for Overseas Securities).

Rajeev Thakkar has 18 years of experience in fund management. He has been with Parag Parikh Financial Advisory Services since 2001. Raunak Onkar has been in charge of the overseas securities since the fund’s inception.

Scores high on investor communication 

The fund conducts annual conference calls for investors. Conference call recordings and fund manager interviews are available on the fund website. Apart from that, the fund fact sheet includes a ‘Note from CIO’ which sometimes provides brief explanations for certain investment decisions.

Fund eats its own cooking

The fund promoters and members of the fund management team too invest in the scheme. This ensures accountability in some form. As of Nov-end 2019, 5.22% of the fund’s corpus was held by insiders including the PPFAS Sponsor Company, promoters and key employees.

But expect underperformance in momentum-driven bull markets 

The fund can be an underperformer in momentum-based rallies. It believes in value buying (buying stocks that are trading at a discount to their intrinsic value) and may, therefore, keep away from high-growth stocks if valuations are pricey. The fund’s Upside Capture Ratio of 73 percent (May 2013 to December 2019) which is less than 100 percent indicates underperformance in the years when the markets were up.

The fund takes cash calls – holds cash instead of deploying the corpus when markets are overvalued and appropriate investment opportunities are hard to come by. This may, however, turn out to be a missed opportunity if the markets rally while the fund is holding on to cash.

Suits investors

• With an investment horizon of at least 5 years
• Who want to take exposure to ‘value style’ of investing
• Who want to diversify with exposure to foreign company stocks

Maulik Madhu is a Senior Research Analyst at FundsIndia.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

ICICI Securities recommends investing in multi-cap funds next year

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The Indian equity benchmark indices continued to make new highs and ended CY19 near all-time highs on the headline benchmark indices. The broader market i.e. midcap and smallcap index have also started to gain some momentum, and are participating in the recent market rally. For next year, ICICI Securities expects equity markets to be structurally well placed from a medium-long term perspective and recommends only investing in multi-cap funds.

The brokerage said, “Midcaps/small caps are likely to outperform. While the Sensex has regained its all-time high levels, midcap and small caps remained well below their peak levels. Low-interest rates, an expected recovery in the second half and continued government measures are likely to revive sentiments in the broader markets.”

ICICI Securities recommended multi-cap funds instead of equity or hybrid funds because it offers fund managers the flexibility to allocate funds across all market segments.

However, in the case of equity funds, the firm warned its investors to be extra cautious in investing in funds that have done well in the last year as a sector. Hybrid funds witnessed outflows as investors booked profits after the rally in equity markets.

The government believes that positives like support for real estate and allied sectors, accelerated government spending to release liquidity, lower interest rate, and easy global liquidity will all help revive India’s sluggish growth, the report added.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Net inflows in equity funds rise 17% in May

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Net inflows in the equity mutual funds, including equity-linked saving schemes, rose over 17 percent month-over-month in May, according to data released by the Association of Mutual Funds in India (Amfi). Total assets under management rose to Rs 25.93 lakh crore in May, up 4.6 percent from last month. Total net inflows stood at Rs 76,989.81 crore, down 23.3 percent from April.

Equity funds received Rs 5,407.75 crore in net inflows in May, up 17.33 percent from Rs 4,608.74 crore. Inflows in midcap fund more-than-doubled to Rs 1,272.68 crore, while inflows in smallcap funds rose over 50 percent to Rs 1,415.86 crore MoM.

Balanced or hybrid funds reported net inflows of Rs 1,265.75 crore in May, compared to net outflows of Rs 1,614.83 crore in April.

Investors put Rs 68,583 crore net in liquid funds in May, compared to Rs 89,779 crore in April and outflows of Rs 46,724 crore in May 2018. Total net inflows in income and debt funds stood at Rs 70,119.45 crore in May.

Equity exchange-traded funds recorded net inflows of Rs 2,432 crore, compared to outflows of Rs 4,259 crore in April.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow