Page 20 - Banking Finance November 2024

MUTUAL FUND

the exit load period has been increased Demart account tally tops
from 5 calendar days to 15 days. Attention Subscribers
175 million
The fund house mentioned that the Please renew your Subscription of The
The number of dematerialised (demat) Insurance Times Journal to receive
changes in load structure shall be ap-
accounts - used for holding shares and
plicable for all prospective invest- other securities electronically - rose by copy of the journal uninterruptedly.
ments, including systematic transac- 4.4 million in September, reaching a You can now pay by GPAY, Phonepe,
tions where registrations/enrolments total of 175.4 million. It marks an av- Paytm, Amazon, ICICI Pay, BHIM UPI
have been done on or after the effec-
erage addition of 4 million accounts
tive date.
monthly since the beginning of 2024.
In the same notice-cum-addendum, The demat tally was boosted by record
the fund house informed about the initial public offerings (IPOs) in Septem-
change in fund manager of Mirae As- ber. Last month, 12 companies raised Rs
set Liquid Fund, which will be effective 11,058 crore via IPOs. And in this calen-
from November 1. dar year, more than 62 companies have
raised Rs 64,511 crore. A significant
DSP Mutual Fund changes number of investors open demat ac-
fundamental attribute of counts primarily to participate in IPOs.
Investors open fresh demat accounts for
two equity schemes family members to increase their
DSP Mutual Fund has announced a chances of securing IPO allotments.
change in fundamental attributes of its Market experts view the steady pace
two equity schemes: DSP Equity & of demat additions as a positive sign for
Bond Fund and DSP Quant Fund. market stability. The incremental flows
The changes will be effective from from these new investors will help off-
November 28. The fund house in- set any potential outflows from over-
formed about these changes through seas funds or existing investors and
a notice-cum-addendum. help keep volatility under check. The
trend also suggests a growing
The new name of DSP Equity & Bond channelisation of household savings
Fund will be DSP Aggressive Hybrid into equities. According to a Sebi work-
Fund. The scheme will invest 65-80% in ing paper, domestic household invest- Sashi Publications Easy Payment
equity and equity related instruments, ments in equities stood at Rs 128 tril- Modes :-
20-35% in debt instruments. The lion in financial year (FY) 2024, up from i) UPI ID: SASHIBOOKS@KOTAK
changed investment strategy of the 84 trillion in FY23. ii) GPAY: 9830171022@okbizaxis
fund will be to follow an active invest- The new additions are happening de- iii) PAYTM: 9830171022@paytm
ing strategy and will prefer a combina- spite bouts of volatility and regulatory iv) NEFT: Current A/C
tion of bottom-up and top-down ap-
tightening around trading rules. It re- 402120110000327 of 'SASHI
proach with regards to investment in mains to be seen how the hike in capi- PUBLICATIONS PRIVATE
equity and equity related securities.
tal gains taxes and also the securities LIMITED, Bank of India, VVK
In picking out individual investment transaction tax coupled with stricter Road Branch., Kolkata, India,
opportunities for the portfolio, the In- trading criteria for the derivatives seg- IFSC Code : BKID0004021
vestment Manager will focus on the ment will impact retail participation. v) Credit Card:
intrinsic value of the business. The in- Also, the recent selloff - triggered by
www.sashipublications.com
vestment manager will attempt to Rs 40,000 crore outflows by foreign
mitigate risk by prioritizing businesses investors- that has led to a 5 per cent For any query please call
that offer a higher margin of safety drop in benchmark indices from their 9073791022/9883398055
with respect to the intrinsic value. peak could also weigh on sentiment. www.sashipublications.com

18 | 2024 | NOVEMBER | BANKING FINANCE