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We are seeing some money shifting from secondary to primary market and certainly after a great rally -- the market was close to 21 times FY23 which is higher than the long term average of 18.9 -- some course correction is good from a medium to long term perspective," says Gopal Agrawal, Senior Fund Manager, HDFC Mutual Fund.

Revision of expense slabs by the regulator, the push towards passives, and the anticipated entry of several new AMCs translate into a greater focus on cost. Do you believe there is potential to drive the costs (expense ratios) down substantially from the current levels while still running the business profitably?

Since April 2020, after the March crash, the markets have rallied spectacularly. A number of reasons are being given for this fantastic rise in the markets: a liquidity rush to fight the pandemic, a receding pandemic, an economic rebound, good profit numbers of listed companies, etc.

ET Wealth collaborates with Value Research to analyse top mutual funds. We examine the key fundamentals of the fund, its portfolio and performance to help you make an informed investment decision.

The best of market breadth is behind us and, going forward, while earnings of overall index remains durable, there would be greater dispersion of winners and losers, suggesting that it could be a stock-pickers’ market, believes Pankaj Tibrewal, Equity Fund Manager at Kotak Mahindra Asset Management Company.

HDFC Asset Management Company has announced the launch of New Fund Offer (NFO) of HDFC Multi Cap Fund. The NFO is currently open and will close on December 7, 2021. The fund is aimed at investors looking to diversify their portfolio with a disciplined exposure to large cap, mid cap, and small cap segments. The Scheme will make mandatory allocation of minimum 25% of its total assets each in large, mid, and small cap companies, while the balance 25% of its total assets will be allocated based on market view of the fund manager.

Investing is all about the 'vision to see, courage to buy and patience to hold'. It all sounds very simple but is in fact very difficult to practise. 'Vision to see' implies seeing the future, which is always hazy and difficult to predict. 'Courage to buy' implies, in a way, fighting the markets, as more often than not, the markets would cause the stock to move in the opposite direction in the short- to medium-term. 'Patience to hold' is most difficult to practise after you have got the stock right and have had the courage to buy.

As a fund house, Franklin Templeton has been in the news because of the shutting down of six of its debt funds and the ensuing complications. This has also kept its equity franchise under the radar. We speak with Anand Radhakrishnan about the AMC's equity funds and their performance, along with other current issues.

"I do not see a prolonged period of correction happening because there is enough domestic liquidity across direct equities from new-age investors, across mutual funds buying and insurance companies and others. The difference from a 2007-2008 kind of a correction when tapering happened or 2013 is that there is strong domestic support from both the liquidity aspect as well as from the economic news footprint," says Sunil Subramaniam, MD & CEO, Sundaram Mutual

The talk of an imminent rate hike is getting louder with each passing day. Shivani Bazaz of ETMutualFunds reached out to Lakshmi Iyer, CIO-Debt & Head-Products, Kotak Mahindra Asset Management Company, to find out what’s in store for debt mutual fund investors. “Fixed income offers plethora of strategies to suit various interest rate scenarios. Key is to identify them and marry them to suit your investment needs,” says Iyer. Edited intervie.

Edelweiss Mutual Fund has rolled out a new scheme in the passive space. With a blend of large-cap and mid-cap segments in its portfolio, it seeks to balance between the growth potential of mid-cap stocks and stability provided by large-cap stocks. This is an open-end scheme and the NFO will close for subscription on November 26, 2021

From the industry perspective, all our efforts are in the direction of increasing the mutual fund penetration across the country. For a country of our size and population, the penetration of mutual funds is quite low and there is still a long way to go, with enough room for all stakeholders to grow and thrive.

Three precious lessons learned from market and those that I follow everyday are as follows:

RBI is batting like Rohit Sharma and Virat Kohli together, bowling like Jasprit Bumrah and Mohammed Shami together and fielding like Ravindra Jadeja now you really cannot expect more than this from the Reserve Bank of India, says Nilesh Shah, MD, Kotak AMC.

HDFC Asset Management Company has launched the New Fund Offer of HDFC Multi Cap Fund. The scheme will make mandatory allocation of minimum 25% of its total assets each in large, mid, and small cap companies, while the balance 25% of its total assets will be allocated based on market view of the fund manager. The NFO opens on November 23 and will close on December 7.