Page 23 - Banking Finance April 2023

MUTUAL FUND

YouGov, revealed that nearly 2 out of There are also other advantages that
Outflows in debt mutual
3 Men (65%) take Investment deci- the scheme can offer like diversifica-
funds continue, Rs 13,815-
sions largely independently but a much tion, easy liquidity, no making charges,
smaller percentage (44%) of women do crore withdrawn in Feb 23 and no storage costs.
so. The study also found that a much
Mutual funds focused on investing in Nilesh Shah, Managing Director, Kotak
higher proportion of men (40%) when
fixed-income securities witnessed an Mahindra Asset Management Co, said,
compared to women (27%) take en-
outflow of Rs 13,815 crore in February, "We are launching Kotak Silver ETF
tirely independent investment deci-
making it the third month of with- Fund of Fund to make it easier for in-
sions (without even consulting a profes-
drawals in a row despite expectations vestors to diversify their portfolios with
sional advisor).
that the rate hike cycle was nearing its convenient access to this precious
end. In comparison, such funds saw an metal, which has various industrial
SBI Mutual Fund raises Rs outflow of Rs 10,316 crore in January applications. The current Silver prices
and Rs 21,947 crore in December. present a potential opportunity for
3,600 crore through divi-
those interested in allocating funds to
Prior to that, debt funds saw a net in-
dend yield NFO this asset in the medium to long term."
fusion of Rs 3,668 crore in November
SBI Mutual Fund said it has mobilised 2022, data from the Association of
around Rs 3,600 crore in its New Fund Mutual Funds in India (AMFI) showed. Mutual fund industry be-
Offer (NFO) for a dividend yield fund Of the 16 fixed-income or debt fund ing vilified baselessly, says
offering, giving it a market share of categories, nine witnessed net out-
AMFI
over 25 per cent in the segment. The flows during the month under review
Association of Mutual Funds in India
fund house collected the amount on the and the remaining six saw inflow. The
(AMFI) has said the industry is being
back of a strong promotion in regional heavy withdrawal was seen from liquid
vilified baselessly as the segment has
languages, with around 1.23 lakh ap- funds. Overall, debt funds continued to
the lowest customer complaints in the
plications from 70 per cent of pin codes witness outflows at Rs 13,815 crore
entire financial market space, as it fol-
in the country and around 40,000 new during the period under review.
lows the most transparent and disclo-
investors.
sure-based reporting. The global funds
Kotak Mutual Fund
The NFO of SBI Dividend Yield Fund tracking body Morningstar ranks India
was opened during February 20 to launches Kotak Silver ETF on top of 26 countries, when it comes
March 6, and it will reopen for sub- to regular monthly fund disclosures,
Fund of Fund
scriptions on March 17, the company according to AMFI chief executive NS
Kotak Mutual Fund announced the
said in a statement. Venkatesh.
launch of Kotak Silver ETF Fund of
AMFI gets complaints from investors as
With this fund collection, SBI Mutual Fund, an open-ended fund of fund
well as distributors directly and also
Fund now commands over 25 per cent scheme that invests in units of the
through the regulator Sebi, he added.
share, the largest in the Dividend Yield Kotak Silver ETF.
category, which now has a total assets In the past, silver as a commodity had On the basis of the type and nature of
under management of Rs 13,844 provided protection during crisis. For complaints, these are broadly classified
into routine and serious complaints, he
crore. instance, during the recent Russia-
said.
Ukraine conflict, while the Nifty 50 fell
The fund house believes that the cat-
by 10%, silver prices surged by 12% Routine complaints include non-receipt
egory has a lot of potential and divi-
according to a release. of dividends, non-receipt of account
dend yield funds should be part of an
statement, non-receipt of commission
investor's portfolio, especially those Investment in Kotak Silver ETF Fund of
and non-updating of record.
looking to invest directly in equity or Fund can be simple and accessible, as
it can be done even without a Demat Serious complaints are manipulation in
looking for a regular cash flow from
account, like any Mutual Fund scheme. application forms, malpractices fol-
dividends.
20 | 2023 | APRIL | BANKING FINANCE