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Mumbai: Investors may need to brace for more pain on Thursday as India’s stock indices are expected to catch up with Wednesday’s slump across Asian markets on the back of resurgence of coronavirus cases in some countries. Domestic markets were shut for trading on Wednesday on account of Ram Navami
Stocks across Tokyo, Hong Kong, Singapore and Seoul fell 0.7-2 per cent with countries such as Brazil and India setting new records of infections and deaths. This has shadowed the optimism around rising vaccination rates in the US and Europe. The SGX Nifty was down 1.6 per cent on Wednesday evening and had touched a low of 14,016.8 during the day, pointing at more weakness ahead for Indian markets.
FPI outflows from Indian corporate bonds at a record ₹36,952 cr in FY21
April 07, 2021
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Foreign portfolio investors (FPIs) have turned away from Indian corporate bonds in a big way in FY21. Amid risk aversion towards NBFC debt instruments and in search for benchmarked fixed income products, FPIs utilisation in Indian corporate debts more than halved to 23.14 per cent in March 2021, from 54.49 per cent for the same period last year.
“The cost of hedging INR in the forward market is quite formidable. Quite a few FPIs hedge their currency risk when they buy India bonds as they seek carry via fixed income. Also, US Treasury yields have been rising gradually which offers FPIs dollar exposure without need to hedge. Hence, we have seen general disinterest in buying India bonds,” said Lakshmi Iyer, Chief Investment Officer (Debt) & Head Products, Kotak Mahindra Asset Management Company.
Kotak Standard Multicap Fund renamed as Kotak Flexicap Fund
Flexicap funds are required to have a minimum of 65 per cent of their assets in equity and equity-related investments with no cap on how much should be invested in large, mid, or small caps.
BusinessToday.In | February 17, 2021 | Updated 18:19 IST
SEBI had in September asked fund houses to ensure that at least 25 per cent of the assets under management of multicap funds are invested in small cap, mid cap and large cap stocks each.
Following SEBI s directions on changes in multicap schemes, Kotak Mahindra Asset Management Company (KMAMC) on Wednesday renamed its Kotak Standard Multicap Fund as Kotak Flexicap Fund.
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