There is a view that in the growing pie of savings and investments, banks are losing out to mutual funds. That may be happening in the margins as India’s equity market has been on a bull run. But let us look at the big picture. While individuals are moving towards financialization of their savings and … Read more
That year, Reliance Mutual Fund (MF) embarked on an organizational restructuring— a journey that ultimately ended with the Japanese insurer Nippon Life Insurance buying out Reliance’s stake in the asset management company (AMC). It was also in 2003 that Sundeep Sikka joined Reliance MF, now known as Nippon India MF, in a senior leadership role. … Read more
In a best-practices circular released on Tuesday, the Association of Mutual Funds in (AMFI) India said distributors can now earn trail commission on assets under management (AUM) switched to them by investors. Previously, AMCs withheld this commission to discourage unhealthy competition among distributors. However, the industry body has stipulated a cooling-off period of six months. … Read more