Mutual Funds Current Affairs - 2019

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Proceeds from Disinvestments exceeds Target

The proceeds from the disinvestments have exceeded the disinvestment target for the fiscal 2018-19 by Rs 5,000 crore taking the total proceeds to Rs 85,000 crore against the targeted Rs 80000 Cr. Disinvestments Disinvestment refers to the process of public asset sales by the government of India. Industrial Policy provides that in order to raise resources Read More…

Month:  Categories: Business, Economy & BankingUPSC

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Reliance capital gets CCI nod to acquire Goldman Sach’s fund arm

Reliance Capital Asset Management (RCAM) has received nod from Competition Commission of India (CCI) to acquire Goldman Sachs’s mutual funds and exchange-traded funds business in India. This approval comes after the boards of both the companies had approved the acquisition transaction. Now RCAM needs to get final nod of the Securities and Exchange Board of Read More…

Month:  Categories: Business, Economy & Banking

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RCAM to takeover Goldman Sachs’ mutual fund business in India

Reliance Capital Asset Management (RCAM) has announced to takeover global giant Goldman Sachs’ mutual fund business in India. It is first ever acquisition RCAM and will be acquired for 243 crore rupees in an all-cash deal. Under this deal, RCAM will acquire all 12 onshore mutual fund schemes of Goldman Sachs Asset Management (GSAM) India Read More…

Month:  Categories: Business, Economy & Banking

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Pramerica Mutual Fund has acquired Deutsche MF business in India

Mutual Fund sector witnessed fifth exit of foreign fund house in two years from India on 7 August, as Pramerica Mutual Fund (MF) a company affiliated to US based Prudential Financial Inc. buys out German Deutsche Bank Group’s MF business in India for 400 crore rupees. Deutsche MF with 20,720 crore rupees assets under management Read More…

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SEBI cancels Sahara’s mutual fund licence

Securities and Exchange Board of India (SEBI) has cancelled licence of Sahara asset Management Company (AMC). The license will stand cancelled after sixty days from the date of the order. The apex market regulator took this decision as Sahara AMC is not fit to carry out the business of mutual fund. It has directed the Read More…

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SEBI issues framework for colour coding, product labelling for mutual funds

With the aim to inform investors with the amount of risk involved in various mutual funds scheme, market regulator- the Securities and Exchange Board of India (SEBI) has issued guidelines on ‘product labelling’ with colour coding for mutual funds. The guidelines would be effective from July 1, 2013, for all existing and forthcoming schemes, Securities Read More…

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SEBI eases Mutual Fund exposure limit for HFCs

SEBI eased the the investment limit for HFCs (Housing Finance Companies) in debt mutual funds. An additional exposure not exceeding 10% of net assets of the scheme shall be allowed only to HFCs as part of financial services sector for prudential limits in debt oriented schemes. The relaxation would be subject to certain conditions such Read More…

Month:  Categories: Business, Economy & Banking

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