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The industry has also done a good job of marketing the fact that in times of stock market correction, all SIP instalments are going to be the multibagger SIP instalments which will get you value, says Sunil Subramaniam, MD & CEO, Sundaram Mutual. Excepts from an interview with ET NOW.

UTI Mutual Fund, India's seventh largest asset manager, has remained without a chief executive officer for over a year as its shareholders are yet to give approval to the name proposed by the board. The fund’s shareholders — State Bank of India (SBI), Life Insurance Corporation of India(LIC), Punjab National Bank (PNB), Bank of Baroda(BoB) and T Rowe Price — have not responded to the board’s communication on the matter, said a person close to the development.

Reliance Nippon Life Asset Management Company announced the amendment of its scheme information documents (SIDs) in a host of its debt and hybrid funds. The schemes in which a side pocketing provision has been introduced are 17 in number including Reliance Ultra Short Duration Fund, Reliance Strategic Debt Fund, Reliance Short Term Fund, Reliance Prime Debt Fund, Reliance Money Market Fund, Reliance Low Duration Fund, Reliance Liquid Fund, Reliance Income Fund, Reliance Hybrid Bond Fund, Reliance Floating Rate Fund, Reliance Equity Hybrid Fund, Reliance Equity Savings Fund, Reliance Dynamic Bond Fund, Reliance Credit Risk Fund, Reliance Banking and PSU Debt Fund, Reliance Balanced Advantage Fund and Reliance Arbitrage Fund.

SBI Mutual Fund and Aditya Birla Sun Life Mutual Fund on Thursday bought shares of drug firm Alkem Laboratories Ltd worth around ?538 crore through open market transactions.

ITI Mutual Fund has decided to change the Exit Load of ITI Arbitrage Fund from 0.25% for redemption within 30 days to Nil with effect from August 20, 2019.

Sundaram Mutual Fund has announced dividend under the following schemes:

“There is possibly no way that retail investors would know which scheme would not be hit by a default. I would say buy and beware,” says Radhika Gupta, CEO, Edelweiss AMC in an interview with Shivani Bazaz of ETMutualFunds.com. Edited interview.

With the closure of open offer, Nippon Life Insurance stake in Reliance Nippon Life Asset Management (RNAM) has risen to 54 per cent. The open offer was part of the stake sale process. Nippon Life floated open offer to acquire nearly 22.49 per cent stake in RNAMNSE -7.74 % for Rs 3,179 crore under a deal with Reliance CapitalNSE -5.88 % which is exiting the mutual funds business.

Five mutual fund houses have significant exposure to CG Power and Industrial Solutions, where a financial fraud to the tune of thousands of crores has been detected.

Retirement fund manager EPFO on Wednesday approved appointment of UTI AMC and SBI Mutual Fund as its fund managers for three years, according to a source. Besides, the Employees’ Provident Fund Organisation (EPFO) also approved a proposal for early redemption of its investment of around Rs 700 crore in bonds of troubled Dewan Housing Finance Corporation Ltd (DHFL), at its trustees’ meeting held in Hyderabad.

The stock market remains under pressure given a confluence of domestic and global factors. Global economic slowdown, declining global yields, fiscal issues and geopolitical tensions are among the various challenges faced by investors, says Sanjay Dongre of UTI AMC. At the current Nifty level of 11000, market is quoting at 17 times one year forward earnings which is slightly higher than the average valuations of the last 5 years, he says. Sushruth Sunder of Financial Express Online recently interviewed Sanjay Dongre, Executive Vice President & Sr. Fund Manager, UTI AMC, who shares his outlook on the stock market, his assessment of the Q1 earnings so far, equity mutual fund inflows and SIP strategy for retail investors. Here are edited excerpts-

Motilal Oswal AMC, a fund house know for its active, focused investment approach, has surprised mutual fund industry with the launch of four passive funds - Motilal Oswal Nifty 500 Fund, Motilal Oswal Nifty Midcap 150 Index Fund, Motilal Oswal Nifty 250 Fund and Motilal Oswal Nifty Bank Index Fund- on August 19. Avneet Kaur of ETMutualFunds.com spoke to Pratik Oswal, Head of passive funds, Motilal Oswal AMC, to find out the rationale behind the decision to launch four passive schemes at one go. Edited interview.

Motilal Oswal Asset Management Company on Monday launched four index (passive) funds. The four schemes are: Motilal Oswal Midcap 150 Index Fund Motilal Oswal Nifty 500 Index Fund Motilal Oswal Nifty Bank Index Fund Motilal Oswal Nifty Small-cap 250 Index Fund

India is unique for foreign investors but they feel let down by the way they are treated, said Raamdeo Agrawal, co-founder, Motilal Oswal Financial ServicesNSE 3.29 %. In an interview with Nishanth Vasudevan ahead of the firm’s annual global investor conference in Mumbai, Agrawal spoke about the stock market outlook, downturn and real estate crisis among other issues. Edited excerpts:

Reliance Nippon Life Asset Management (RNAM) has partnered with MobiKwik to launch ‘Kwik Save’, an investment product in the liquid fund category, with an instant redemption feature.