Entries Tagged 'Mutual Funds' ↓

Investors who havent qutoed the pan card numbers before have to now compulsarly quote while investing in Mutual Funds. Pan Card has been made mandatory by the finance ministry and the deadline has been set as January 1, 2008. The finance ministry has also said that that there would be no further relaxation in the deadline unlike before where the relaxation deadline was extended from July 2007 to January 2008. Investors who have not yet applied in the Pan cards should do immediately to invest in mutual funds from 1st January 2008.

Domestic institutions such as insurance companies and mutual funds are playing the role of market saviours at a time when foreign institutional investors are selling heavily.

Secondary market operations data (for the Bombay Stock Exchange and the National Stock Exchange combined) show net sales by FIIs since July 26, when the markets started falling, stood at Rs 7,733.82 crore (Rs 77.34 billion).

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Germany based, Allianz Group, is planning to enter into asset management business in India, reports Business Standard.

Allianz signed an agreement with the Delhi-based Allianz Capital & Management whereby the latter surrendered the `Allianz` name for USD 2-3 million.

The group has already applied to the Reserve Bank of India (RBI) to secure a banking licence.

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Subprime woes gripping financial markets around the world may have led to the erosion of yields, including in India, but the country’s mutual funds (MFs) have posted an impressive performance compared to benchmark indices during the period.

Following volatile sessions day after day over the last one month, the 30-share Sensex of the BSE dipped 1.67% during the period, while returns from equity schemes look attractive at the moment, giving returns as high as 5.57% during the same period.

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