The concept of mutual funds in India dates back to the year 1963. The era between 1963 and 1987 marked the existance of only one mutual fund company in India with Rs. 67bn assets under management (AUM), by the end of its monopoly era, the Unit Trust of India (UTI). By the end of the 80s decade, few other mutual fund companies in India took their position in mutual fund market.
The new entries of mutual fund companies in India were SBI Mutual Fund, Canbank Mutual Fund, Punjab National Bank Mutual Fund, Indian Bank Mutual Fund, Bank of India Mutual Fund.
The succeeding decade showed a new horizon in indian mutual fund industry. By the end of 1993, the total AUM of the industry was Rs. 470.04 bn. The private sector funds started penetrating the fund families. In the same year the first Mutual Fund Regulations came into existance with re-registering all mutual funds except UTI. The regulations were further given a revised shape in 1996.
Kothari Pioneer was the first private sector mutual fund company in India which has now merged with Franklin Templeton. Just after ten years with private sector players penetration, the total assets rose up to Rs. 1218.05 bn. Today there are 33 mutual fund companies in India.
Major Mutual Fund Companies in India
ABN AMRO Mutual Fund
ABN AMRO Mutual Fund was setup on April 15, 2004 with ABN AMRO Trustee (India) Pvt. Ltd. as the Trustee Company. The AMC, ABN AMRO Asset Management (India) Ltd. was incorporated on November 4, 2003. Deutsche Bank A G is the custodian of ABN AMRO Mutual Fund.
Birla Sun Life Mutual Fund
Birla Sun Life Mutual Fund is the joint venture of Aditya Birla Group and Sun Life Financial. Sun Life Financial is a golbal organisation evolved in 1871 and is being represented in Canada, the US, the Philippines, Japan, Indonesia and Bermuda apart from India. Birla Sun Life Mutual Fund follows a conservative long-term approach to investment. Recently it crossed AUM of Rs. 10,000 crores.
Bank of Baroda Mutual Fund (BOB Mutual Fund)
Bank of Baroda Mutual Fund or BOB Mutual Fund was setup on October 30, 1992 under the sponsorship of Bank of Baroda. BOB Asset Management Company Limited is the AMC of BOB Mutual Fund and was incorporated on November 5, 1992. Deutsche Bank AG is the custodian.
HDFC Mutual Fund
HDFC Mutual Fund was setup on June 30, 2000 with two sponsorers nemely Housing Development Finance Corporation Limited and Standard Life Investments Limited.
Student Answer: Professional management and diversification are the major reasons investors purchase mutual funds, as well as they are easy to invest in for beginning investors or those who lack large amount of money as required by other types of investments. Investment companies are employed with experienced and profession fund managers who research and devote a lot of time to finding the perfect securities for their investment portfolios. The diversification allows for gains, even in a loss, because one investment in a mutual fund can offset the loss of another by it’s gains. Basically, your investments are scattered around and offer somewhat of a safety net for your
During 18 years development, CC&L it had been growing to a top 10 Canadian pension funds, and the total asset under management (AUM) had been growing to 19 billion, with pension asset under management accounting for 64%, as at December 2000.
Askew Kabala & Company, Inc. is a privately held middle-market investment banking firm located 30 miles south of the Los Angeles Metropolitan area. Led by a team of sophisticated and seasoned bankers, our firm’s business model places emphasis in serving the best interest of the client. We collaborate with reputable private institutional fund investors, looking to successfully diversify their portfolios by investing in domestic and international enterprises valued between $10 million to $100 million.
Company name: The Vanguard Group Corporate headquarters: Valley Forge, Pennsylvania Founded: May 1, 1975 First fund: Wellington Fund (inception date: July 1, 1929) Offices: Valley Forge, Pennsylvania; Scottsdale, Arizona; Charlotte, North Carolina; Melbourne, Australia; Brussels, Belgium; Singapore; Tokyo, Japan Total assets: Approximately $850 billion in U.S. mutual funds (as of 05/31/2005) Number of funds: 130 domestic funds (including variable annuity portfolios); 35 additional funds in international markets Number of investors: 18 million institutional and individual shareholder accounts Chairman and CEO: John J. Brennan Number of employees (crew): More than 10,000 U.S.-based Largest fund: Vanguard® 500 Index Fund—$104 billion (Admiral™ and Investor share classes, as of 5/31/2005) Aggregate expense ratio: 0.23% (expenses as a percentage of 2004 average complex net assets) Mailing address: P.O. Box 2600, Valley Forge, PA 19482 Website address: www.Vanguard.com
The advantages of retaining internal control on endowment allocation across asset classes and managers are the assets manage by internal managers. Because of it, the decision making between Kings College bursar and investment committee regarding the endowment performance is efficient. Moreover, Kings College has no relationship and no administrative burden to take care of. Finally, passive investment in equity index funds fit with the risk preferences of investment committee. The long-run objectives were to achieve total return of 3.35% with the least possible risk.
There are many different ways to save money and there are different things to save for. A savings plan for an immediate want is apparently different than a savings strategy for retirement. One may choose to select stocks, bonds, or mutual funds for a savings strategy, however, my personal choice is to invest in bonds first, then mutual funds.
According to ss700-741 CA, fundraising provisions apply when a company seek to raise funds by issuing securities. CA requires to provide adequate disclosing information in prospectus. The prospectus’ intention is that provide protection to normal general investor without special skill and knowledge. In this case, shareholders are willing to invest the Mountain Mist Ltd (MML) because Majid Ting is an expert who can give professional advice.
At the time of its collapse, Baring Brothers & Co., Ltd was the longest established merchant banking business in the City of London. Since the foundation of the business as a partnership in 1762 it had been privately controlled and had remained independent. In 1890 Barings Brothers was founded. In November 1985, Barings plc acquired the share capital of Barings Brothers and became the parent company of the Barings Group. In addition to Barings Brothers, the other two principal operating companies of Barings plc were Barings Asset Management Limited (BAM), which provided a wide range of fund and asset management services, and Baring Securities Limited (BSL), itself a subsidiary of Barings Brothers, which generally operated through subsidiaries as a broker dealer in the Asia Pacific region, Japan, Latin America, London and New York. Barings Brothers acquired Barings Securities Limited from Henderson Crosthwaite in 1984. BSL was incorporated in the Cayman Islands, although its head office, management and accounting records were all based in London. BSL had a large number of overseas operating subsidiaries including two, Baring Futures (Singapore) (BFS) and Baring Securities (Japan) Limited (BSJ).
My God there are so many careers out there, who in the world can pick just one. That’s what’s been weighing on my mind heavily is what career is right for me. I’ve thought of a couple that interest me but I want to find out everything there is to know about a financial advisor. The reason that I’m interested in this field is how everything is the same when it comes to the actually math behind the career. Also I like to deal with people and money so a job as a financial advisor just seems right for me but I intend to find out as much as I can to make sure there’s nothing surprising or any kinks in what sounds like the perfect job for me.
[6] Kripalani, Majeet & Egnardio, Pete. The Rise Of India. Business Week Online. December 8, 2003. http://www.businessweek.com/magazine/content/03_49/b3861001_mz001.htm
Beginning operations in December 2000, ICICI Prudential’s success has been meteoric, becoming the number one private life insurer within months of launch. Today, it has one of the largest distribution networks amongst private life insurers in India, with branches in 54 cities. The total number of policies issued stands at more than 780,000 with a total sum assured in excess of Rs. 160 billion.
The stock market is an essential part of a free-market economy, such as America’s. This is because it provides companies the capital they need in exchange for giving away small parts of ownership in their company to investors. The stock market works by letting different companies sell stocks to gain capital, meaning they sell shares of their company through an exchange system in order to make more money. Stocks represent a small amount of ownership in a company. The more stocks a person owns, the more ownership they have of that company. Stocks also represent shares in a company, which are equal parts in which the company’s capital is divided, entitling a shareholder to a portion of the company’s profits. Lastly, all of the buying and selling of stocks happens at an exchange. An exchange is a system or market in which stocks can be bought and sold within or between countries. All of these aspects together create the stock market.
Before the easing period of the Indian economy there have been only a few corporations as an example Kelvinator, Godrej and Voltas that were thought-about because the leading market share holders, accounting for roughly ninetieth of the market. however when the easing period several MNC’s like LG, Sony, Samsung, Whirlpool, etc entered into the Asian countryn markets and these days these corporations have management
When Bharti went public in 2002 with the India National stock exchange they raised $172 million and by the end of 2002 they raised over $1 billion through direct investments.
Never have I ever climbed a mountain peak. As a child, I imagined myself conducting expeditions in deep-frozen pathways, leading amateur explorers to the top of the world, and instructing rookies in surviving harsh blizzards. Even though slightly altered, my childhood dream has been achieved. I led a team of fellow classmates, in my Strategic Management course, to the success summit of a financial competition. Over the course of a semester, I and my teammates were supposed to create and manage a company of the IT industry, in a computer-simulated environment, along with other four rival teams. I dealt with strategy and financial matters of our virtual enterprise, while my colleagues were working on marketing and manufacturing. During the four months of the exercise, I have experienced finance from various aspects: capital budgeting, through selecting favorable investment for upcoming quarters; debt management, by assessing the necessary amount and efficiency of loans; profitability analysis and dividend policy, which had been used to compile the company’s general performance index. Working in a multinational team, which included an American, a Norwegian and a Moldovan, strengthen my negotiations skills, as well as flexibility and cooperation. But above all, this experience intensified my passion for finance. Of course, a pleasant bonus was the fact that, in the end, our company’s financial performance was six times the performance of second-best team.