HDFC AMC Chief Investment Officer Announces Resignation After 19 Years
Prashant Jain, currently the Chief Investment Officer of HDFC AMC India's longest-serving mutual-funds manager called it a quit, and announced to resign as CIO. Highlighting his professional achievements, Jain has an active 28-years of services and has managed a mutual fund scheme since its start. Furthermore, Jain was overseeing total assets worth Rs 4.12 lakh crore and managing over Rs 1 lakh crore under four predominantly equity-schemes.… read-more
Tags: Prashant Jain, CIO, HDFC AMC, Resignation, MUTUAL FUNDS
Courtesy: The Free Press Journal
Franklin Templeton Logs Rs 15,272 Cr From Closure Of 6 Debt Schemes
The closure of its six debt schemes in April 2020 has bagged Rs 15,272 crore for Franklin Templeton Mutual Fund till March 15. The amount received has been credited to maturities, coupons and pre-payments. The Net Asset Value (NAV) of the shut schemes is also estimated to be more than the last year. Forced to shut the schemes due to liquidity crunch, the company got assistance from SBI Funds Management for liquidating its schemes.
Tags: business, MUTUAL FUNDS, Franklin Templeton, Debt Scheme
Courtesy: Business Standard
SEBI Imposes Rs 10L Penalty Each For SBI, LIC and BOB Over Mutual Funds
Securities and Exchange Board of India (SEBI) has fined SBI, LIC and Bank of Baroda for holding more than 10 percent share in UTI mutual funds and having majority stake in fund houses, promoted by them. They will have to pay a fine of Rs 10 lakh each. These entities hold over 18 percent in each fund houses, violating the amendments of holding norms of 2018.
Tags: SEBI, MUTUAL FUNDS, SBI, LIC, BANK OF BARODA
Courtesy: The Times of India