Groww, an investment platform, today announced direct plan mutual funds for its customers.
Equity mutual funds witnessed a net inflow of Rs 6,657 crore in March, a plunge of 59 per cent from the preceding month, due to volatile stock markets.
BSE said 37 asset management companies (AMCs) have agreed to pay a service charge per transaction for using its platform.
Investors remained bearish on gold ETFs as they pulled out Rs 835 cr from the instrument in 2017-18, making it the fifth consecutive financial year of outflow.
Mutual funds industry has added 32 lakh new investors over the last one year mainly due to a spirited promotion campaign by the industry, a senior Amfi official said.
The govt plans to hit the market with the follow-on offer of Bharat-22 ETF, with ICICI Prudential MF filing draft papers for the second round.
Surti has settled proceedings with regulator Sebi in connection with alleged violation of mutual funds norms in the Amtek Auto case.
Sebi will discuss a slew of measures at its board meeting for strengthening the algo trading framework, amending norms for companies undergoing bankruptcy proceedings.
In terms of returns to investors, most of the equity focused MFs have underperformed their respective benchmark S&P BSE indices, for the one year ended Dec last year.
Sebi is considering to reduce the additional expenses charged by MFs by 15 basis pts, a move aimed at increasing penetration of such products among investors.
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