Page 20 - Banking Finance September 2020

MUTUAL FUND

Kotak MF' average AUM spiked by 14.5 scheme following the special situations portunities that exist today in terms of
percent to Rs 1,91,598 crore in three theme. Aditya Birla Sun Life Special new emerging trends, existing busi-
months ended September 30 from Rs Opportunities Fund will be managed by nesses adapting and evolving, and a
1,67,326 crore in the preceding quar- Senior Fund Manager Anil Shah. The big consolidation in many industries
ter. fund management team also includes that is underway," says A.
The asset base of Axis MF climbed by Chanchal Khandelwal and Vinod Bhat. Balasubramanian, MD & CEO, Aditya
16.3 percent to Rs 1,56,255 crore in "Markets have a way of offering spe- Birla Sun Life AMC.
September quarter while that of UTI cial opportunities to stock pickers. The fund will seek to have a focused
MF accelerated by 16.1 percent to Rs Sometimes it will favour growth com- portfolio through bottom-up approach
1,55,190 crore. panies and sometimes value compa- of stock selection based on the size of
UTI MF, which has recently concluded nies. In times of uncertainty, even the opportunity, prospects of future
its initial public offering, had an AAUM good companies get impacted due to growth and scalability, potential of
of Rs 1,33,631 crore in the June quar- some reason or the other. growth in return on equity, and mar-
ter. Money managers have to look at the gin of safety. The portfolio will be sec-
tor and market cap agnostic.
The average AAUM of IDFC MF and hidden value that can be unlocked from
DSP MF went up by 12.3 percent and these companies in times ahead. These The fund can also invest upto 25% of
12 percent to Rs 1,14,335 crore and Rs opportunities backed by good manage- the corpus in international opportuni-
82,286 crore respectively. ments enhance the probability of suc- ties pertaining to special situations.
cess of these companies. An avid stock "In addition there is abundant liquid-
In the June quarter, the industry had
registered an 8 percent decline in AUM picker will be on the lookout for these ity which is favourable for equity mar-
on account of outflow pressure both in kind of potential opportunities. kets, make this the perfect time to look
debt and equity. This fund will be run by a team that for these opportunities and come into
has immense experience in identifying this fund with an investment horizon of
Aditya Birla Sun Life Mu- and investing in such opportunities and five years or more", adds
tual Fund launches 'Spe- have a track record of identifying Balasubramanian.
trends early on. We are already in a The minimum application amount for
cial Opportunities Fund' special situation market due the un- this fund is Rs. 500 and in multiples of
Aditya Birla Sun Life AMC has launched precedented nature of the times we Re 1 thereafter, during the NFO pe-
Aditya Birla Sun Life Special Opportu- are in. We believe that the time is just riod. Investors can come into this fund
nities Fund, an open-ended equity right to benefit from many special op- both in the SIP or Lumpsum route.

Three held for defrauding coop bank of Rs 6 crore

CID (crime) Surat recently nabbed three persons accused for defrauding Kalupur Commercial Cooperative Bank of Rs six
crore by not repaying loan. Police booked Bhavesh Patel, 36, his father Bhagwan Patel, 58, and uncle Ashwin Patel, 56, for
cheating, forgery and criminal breach of trust. They had allegedly forged mortgage papers while borrowing, investigation
by the bank revealed. The complainant was lodged by the bank's assistant manager Jayesh Sakaliya. Police also booked
Hemang Parikh, former manager of the bank's branch Mumbai and HT Shah, a property valuer.
Investigation so far revealed that Bhavesh had taken a loan of Rs 6crore in 2016 from the bank's Mumbai branch for a unit
he owned in Surat district. He had mortgaged the unit for Rs Rs 3.10 crore unit and bungalow worth Rs 45 lakh. He de-
clared the value of these properties to around Rs 6 crore for which he took help of Parikh and Shah.
The accused later declared their inability to repay the loan which was declared a non-performing asset (NPA) by the bank.
When the bank tried to seize the mortgaged properties, they came to know the actual value. "Bhavesh borrowed the loan
in the name of his father and uncle who are actually not doing business. Bhavesh himself became guarantor but he is
mastermind of the fraud," said a CID officer.

20 | 2020 | SEPTEMBER | BANKING FINANCE