Our Bureau
Mumbai May 20 |
Updated on
May 20, 2021
Maiden Opportunities to be called Recently Listed IPO Fund
Edelweiss Asset Management will convert its close ended Edelweiss Maiden Opportunities Fund – Series 1 into open-ended fund from June 29.
The fund, which had invested in 100 recent IPOs, has assets under management of ₹522 crore (as of April). The first of its kind open-ended fund will be re-named as Edelweiss Recently Listed IPO Fund.
Tenure ends in June
The maiden opportunity fund was launched as a close-ended fund in February 2018, with a tenure of about three years, which ends in June. The fund has delivered 14.3 per cent return against 11.2 per cent Nifty 500 TRI (benchmark). It has been investing in new-age businesses across multiple sectors.
Edelweiss AMC converting its IPO-focused Maiden Opportunities Fund into an open-ended Fund equitybulls.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from equitybulls.com Daily Mail and Mail on Sunday newspapers.
Individual investors’ holdings in passive funds jump in FY21
May 14, 2021
Low cost, simple structure of funds drive global trend
Passive investing is gaining more currency among Indian retail investors and high net worth individuals (HNIs) as they increasingly look for simple, transparent and low-cost investment options. This is reflected in index funds and exchange traded funds (ETFs) witnessing a significant jump in retail and HNI assets over the last two fiscals.
According to AMFI data, the asset under management (AUM) of HNIs in index funds have jumped 176 per cent to ₹8,267 crore as of March 2021 while index fund AUM of retail investors grew 157 per cent.
Sebi s skin-in-the-game rule too difficult to implement: Edelweiss AMC
April 29, 2021
Edelweiss Asset Management feels the new Sebi skin-in-the-game circular is going to be big challenge to implement.
Radhika Gupta, Chief Executive Officer, Edelweiss Asset Management in a tweet said the circular applies to not just senior employees but junior research staff, dealers and support function heads. These people do not even earn the kind of money like the CEOs and CIOs, she said.
It is forcing these people to lock 20 per cent of their income for three years and mandates how much one saves. For a guy earning ₹15-20 lakh (per annum), imagine how difficult it is to put away ₹3-4 lakh. We are constraining employee cash flows, she said.
April 29, 2021
Radhika Gupta, CEO, Edelweiss Asset Management - BL×
Fund houses think move could hurt business and talent
Mutual fund companies may approach the Securities and Exchange Board of India (SEBI) seeking changes to the recent order that requires minimum 20 per cent of the compensation of key employees to be paid in the form of units of the scheme in which they have an oversight role. The industry feels that although the market regulator’s intent is right in making it mandatory for fund managers to have skin in the game, the implementation could be a problem.
Radhika Gupta, Chief Executive Officer at Edelweiss Asset Management said the circular could be hard on junior research staff, dealers and support function heads. “For a guy earning ₹15-20 lakh (per annum), imagine how difficult it is to put away ₹3-4 lakh. We are constraining employee cash flows,” she said.