The limited partners also committed to retaining the two dividends in 2022 with Hangzhou Junhan and Hangzhou Junao to enhance the operation’s capital strength
Posts in category Business Standard
Gold price falls Rs 90 to Rs 59,070, silver dips Rs 700 to Rs 72,300 (08-07-2023)
The price of 22-carat gold dipped Rs 100 to Rs 54,150
Sebi clears path for self-sponsored AMCs, lists duties of trustees (07-07-2023)
The trustees can avail services of third parties like audit firms, legal firms and merchant bankers to fulfill certain responsibilities
Sebi imposes Rs 1 cr penalty on Fidelity Management for operating as FPI (07-07-2023)
The merger of FIMM into FMRC resulted in the cessation of the FPI registration of FIMM, while FMRC had not obtained an FPI registration
Drone manufacturer ideaForge Technology skyrockets on market debut (07-07-2023)
The drone developed by the company was featured in the Bollywood blockbuster 3 Idiots in 2009
Hawkish signals by US Fed end domestic market’s eight-day winning streak (07-07-2023)
Nifty falls nearly a per cent after adding 4.5% in the last eight trading sessions
Sebi puts in place regulatory framework for mutual fund’s sponsors (07-07-2023)
Capital market watchdog Sebi on Friday came out with a regulatory framework for private equity funds sponsoring a mutual fund house as well as for self-sponsored Asset Management Companies (AMCs).
Under the framework for private equity (PE) funds, Sebi said the applicant is required to have a minimum of five years of experience in the capacity of fund manager and an experience of investing in the financial sector. It should have managed, committed and drawn-down capital of at least Rs 5,000 crore.
The mutual fund sponsored by the PE would not participate as an anchor investor in the public issue of an investee company, where any of the schemes and funds managed by the sponsor PE has an investment of 10 per cent or more or a board representation.
“The experience, track record, and eligibility regarding the fit and proper criteria of any applicant PE to become a sponsor of a mutual fund shall be ascertained through its conduct in the respective home jurisdiction,” Sebi said in a …
HDFC Bank to replace HDFC Ltd on MSCI Global indexes from July 13 (07-07-2023)
Still, HDFC Bank’s shares are up 2% so far this year, while HDFC’s shares have gained 5%, but are both underperforming the blue-chip Nifty 50, which is up 6.8%
Crypto wrap: Market highly volatile amid mixed signals from macro data (07-07-2023)
In the last few weeks, the market was witnessing a bull run after the news emerged of several big entities showing their interest in Bitcoin but in the later part of the week, the market saw a sell-of
Market regulator Sebi enhances accountability of mutual fund Trustees (07-07-2023)
Amidst the growing scale of the mutual fund industry, capital markets regulator Sebi on Friday increased the role and accountability of the Trustees in a bid to safeguard unitholders’ interest.
In addition, the regulator said that a unit holder protection committee (UHPC) by the board of an AMC would be constituted. This is part of Sebi’s attempt to have an independent review mechanism for the decisions of AMC from the perspective of the unit holders’ interest across all products and services.
The new framework would come into force from January 1, 2024, the Securities and Exchange Board of India (Sebi) said in a circular.
The regulator has specified the “core” responsibilities of the Trustees of a mutual fund, wherein they will have to ensure that the AMCs have adequate systems to prevent mis-selling to increase their assets base.
Also, Trustees need to ensure that AMC has a system to prevent market abuse by its employees and connected entities.
In addition, Trustees will be …