Page 13 - Banking Finance January 2025

MUTUAL FUND

Nand Kishore Appointed

MD & CEO of SBI Mutual
Fund
Nand Kishore has been appointed as
the new Managing Director and Chief
Executive Officer of SBI Funds Manage-
ment, succeeding Shamsher Singh, Ò»©­
who will return to the State Bank of
India. Kishore brings over 34 years of
extensive experience at SBI, spanning
branch banking, international opera-
tions, treasury, and investment bank-
ing. Beginning his career as a proba-
tionary officer in 1990, Kishore rose to
the position of Deputy Managing Di- Choice International Secures SEBI Nod for Mutual
rector. The fund house anticipates le- Fund Operations
veraging his expertise to further its
Choice International has received in-principle approval from SEBI to launch
growth and operational excellence.
mutual fund operations. The company plans to establish an asset manage-
ment company and trustee company, complying with all regulatory require-
SEBI Expands T+0 Settle-
ments. CEO Arun Poddar emphasized the firm's commitment to offering tai-
ment to 500 Stocks Start- lored investment solutions. Final approval is subject to fulfilling SEBI's stipu-
ing January 2025 lated conditions. This move marks a significant milestone for Choice Inter-
national as it broadens its financial services portfolio.
The Securities and Exchange Board of
India (SEBI) announced that 500 listed
Fund and Nasdaq 100 Fund of Fund, ef- to lump sum investments, switch-ins,
stocks will transition to a same-day
settlement cycle (T+0) in phases, start- fective January 5, 2025. The decision and new SIPs. Existing SIP and STP reg-
ing January 31, 2025. This initiative stems from the exhaustion of overseas istrations will continue as per the
investment limits. While SIP registra- scheme's terms. This pause will remain
follows the beta launch in March 2024,
where only 25 stocks were eligible. The tions will remain active, inflows will re- until further regulatory updates.
sume only if regulatory limits change.
T+0 cycle will remain optional, allow-
ing quicker trade settlements. Brokers Redemption, systematic withdrawal Samco Mutual Fund Files
can levy differential brokerage charges plans, and transfers remain unaffected. for Large Cap Fund
for this service, and processes will be The fund house assures investors of ad-
implemented to ensure smooth opera- herence to all guidelines as per its Samco Mutual Fund has filed for regu-
scheme information documents. latory approval to launch the Samco
tions. Under this system, funds and
shares are credited on the same day Large Cap Fund. The open-ended equity
of the transaction, improving liquidity SBI Mutual Fund Halts scheme will primarily invest in large-cap
and efficiency. Fresh Subscriptions for In- stocks, aiming for long-term capital
appreciation. Managed by a team of
Motilal Oswal Mutual ternational Fund seasoned professionals, the fund will

Fund Pauses SIP Inflows for SBI Mutual Fund has suspended fresh benchmark against the Nifty 100 TRI. It
subscriptions to its International Ac- offers growth options and allows limited
Two International Funds cess - US Equity Fund of Fund (FoF) to exit without charges within the first 12

Motilal Oswal Mutual Fund has tempo- avoid exceeding the RBI-mandated months. The scheme reinforces Samco's
rarily paused systematic investment overseas investment limit. Effective commitment to providing innovative
plan (SIP) inflows for its S&P 500 Index December 27, the suspension applies investment solutions.

12 | 2025 | JANAURY | BANKING FINANCE