Page 22 - Banking Finance August 2021

MUTUAL FUND

ment during NFO is Rs 1,000 and in such as purchase, redemption and count, transactions, capital gains and
multiples of Re 1. According to the switch. losses, and details of unclaimed divi-
press release, ICICI Prudential FMCG dend and redemption.
The Securities and Exchange Board of
ETF provides investors with a choice to India (Sebi) has asked mutual fund
take exposure to multiple facets of the (MF) registrar and transfer agents ABSL Mutual Fund spots
FMCG sector. (RTAs) to develop a common industry- top trends for future
The NIFTY FMCG Index comprises 15 wide platform for purchase and sale of Aditya Birla Sun Life Mutual Fund has
stocks from the FMCG sector listed on mutual funds and to handle service come up with their annual trend spot-
the National Stock Exchange (NSE). requests. ting report. The report analyses the
big trends that have played out over
This index has outperformed the Nifty The mutual fund industry has two RTAs
50 index in 8 out of the last 11 calen- currently, Computer Age Management the last couple of decades, and have
dar years. "ICICI Prudential FMCG ETF Services Ltd (Cams), and KFin Technolo- identified the key enablers of any big
provides exposure to a basket of secu- gies Pvt Ltd. Investors have to use the structural trend. Based on these
enablers, the fund house has identified
rities in the FMCG sector. websites of mutual funds totalling
the key trends of the future and its
Higher inclination towards branded more than 40 or the services of dis- potential beneficiary sectors.
products, rising purchasing power ow- tributors or commercial platforms for
transactions. The five important segments that the
ing to higher disposable income, in- fund house is looking at are- Manufac-
creased digitization and growing de- Procuring account statements is also a
turing, Digitalization, Sustainability,
mand from rural areas, are expected difficult task. RTAs send common Cyclical Revival in Rein Real Estate and
to fuel the FMCG sector growth in In- emailed statements from each of their Revival in Mid & Small Caps. The Alter-
dia. One can say that this sector ap- websites on request, but awareness nate Assets Equity Investments team
proximately accounts for more than about this option is low. of the ABSL AMC has done the study
half of consumer spending," said The Sebi circular said asset manage- capturing insights on key sectoral
Nimesh Shah, MD & CEO, ICICI Pruden- ment companies (AMCs), RTAs, and trends over the last two decades and
tial AMC. depositories shall review and agree to applying the insights from this research
harmonize the processes across the to arrive at the Five Big Trends for the
SEBI asks Mutual funds to industry to provide a single-window, Future. The fund house said that, look-
integrated, simplified investment and ing at the past market data, one can
integrate services platform service experience for investors. The decipher the interplay of various macro

The new platform shall enable a user- platform will provide services, includ- and micro factors coming together to
friendly interface for investors for ex- ing reports on mutual fund holdings in create a market cycle that favours a
ecution of mutual fund transactions demat and standard statement of ac- set of industries. T

West Bengal offers rebate on stamp duty

The West Bengal government waived road tax on passenger transport vehicles and offered a rebate on stamp duty as
it tabled a Rs 3.08- lakh- crore Budget in the assembly for fiscal 2021-2022. Presenting the Budget, state industry
minister Partha Chatterjee, who had placed the vote-on-account in the House on February, said the government has
decided to extend the one- time exemption of motor vehicle tax for the period starting July 1, 2021 to December 31,
2021.
The government has also proposed to reduce stamp duty by two per cent for registration of deeds, while circle rate
was slashed by ten per cent. Chatterjee presented the budget as finance minister Amit Mitra is indisposed due to ill
health.
Talking about the student credit card scheme, launched on June 30, the minister said that interest rate of four per
cent will be charged as a part of subvention, while the rest will be borne by the government. The budget speech was
further critical of the rise in fuel prices in the country.

22 | 2021 | AUGUST | BANKING FINANCE