Topic
mutual fund
Finance NCDEX launches NCDEX Nidhi to distribute mutual funds to rural India via FPO network
NCDEX, the largest commodity derivatives exchange, launched NCDEX Nidhi on Wednesday to distribute mutual funds to rural and semi-urban India. The platform leverages the exchange's network of over 700 farmer producer organisations (FPOs) and 200 broker organisations. Six fund houses have been onboarded, with 20 more expected by end of August.
Business Axis AMC Acquires Rs 12,000 Crore PMS Business from Axis Securities, Adds 2,500 Investors
Axis Asset Management Company (Axis AMC) will acquire the portfolio management services (PMS) business of Axis Securities, adding over 2,500 investors and taking its PMS assets under management (AUM) to around Rs 15,000 crore. The deal is among the largest PMS transactions in India by investor count and strengthens Axis AMC's alternatives platform. Naveen Kulkarni has been appointed chief investment officer for PMS and listed equity alternates.
Finance Sebi Clears SBI Mutual Fund IPO; ₹13,000 Crore Share Sale Expected Next Month
According to a Business Today report, the Securities and Exchange Board of India (Sebi) has cleared the initial public offering (IPO) of SBI Mutual Fund. The ₹13,000 crore share sale is likely to be launched next month, marking a significant milestone for the mutual fund industry.