With a wide array of existing mutual fund schemes, asset management companies are going slow on launching new ones in a highly competitive landscape as they filed draft documents for 59 new fund offerings (NFOs) in the first seven months of the year. In comparison, draft papers for 70 NFOs were filed in… Continue reading MF houses go slow on NFOs, file draft papers for 59 schemes in Apr-Jul
Tag: schemes
Net collections under small savings schemes dip for first time in 11 years
Representative Image (Photo: Pexels) Net collections under small savings schemes such as National Savings Certificate (NSC) and Public Provident Fund (PPF) dipped for the first time in 11 years in the last fiscal year (FY23). Net small savings collections (deposits minus withdrawals by the subscribers) in FY23 stood at Rs 3.04 trillion, witnessing… Continue reading Net collections under small savings schemes dip for first time in 11 years
Govt initiatives and schemes explained
Rebates on khadi products have been replaced with the market development assistance (MDA) scheme since April 1, 2021, based on recommendations from various committees. This new scheme aims to boost sales and improve the quality of Khadi for customers. Under MDA, 25 per cent of assistance is given to spinners and weavers as an… Continue reading Govt initiatives and schemes explained
LIC Mutual Fund completes the takeover of IDBI Mutual Fund schemes
LIC Mutual Fund (MF) on Monday said it has completed the takeover of schemes of IDBI MF. Out of 20 schemes of IDBI MF, 10 have been merged with similar schemes of LIC MF and the remaining 10 have been taken over by LIC MF. The merger is likely to have taken… Continue reading LIC Mutual Fund completes the takeover of IDBI Mutual Fund schemes