Reliance Growth Fund touches net asset value of Rs 900 crore
Reliance Capital Asset Management~s open-ended equity growth scheme, Reliance Growth Fund, has achieved a net asset value (NAV) of Rs 900 crore. This is the first fund in the industry to achieve this NAV level. The fund was launched 21 years ago in October 1995.
Gold ETFs outflow reaches Rs 462 cr in April-August
Investors remained bearish on gold exchange-traded funds (ETFs) in August and pulled out Rs 51 crore from this instrument, taking the total to Rs 462 crore in the first five months of the current fiscal.
An IPO wave is just starting
While the Indian markets have seen a pick-up in new share sales in 2016, the market for initial public offers (IPO) worldwide has been in a slump.
NFOs lose steam as existing plans hot up
After two years of strong showing, equity new fund offers (NFOs) have lost steam this year. So far from January, mutual funds have seen only 13 NFOs, which together have mobilised less than Rs 900 crore. Last year saw 63 NFOs, to raise a little over Rs 8,800 crore.
MF folio count rises 21 lakh to around 5 crore in August end
Showing a growing traction for mutual funds among investors, the number of folios has surged by over 21 lakh in the first five months of the ongoing financial year (FY) to around 5 crore, mainly on account of strong participation from retail investors.