Assets under management of mutual funds investing in global markets have shrunk over the past 20 months. Even the long-term category average returns pale in comparison to some in the debt funds bucket. What is ailing global funds and are they still a good portfolio diversification tool. Moneycontrol spoke to Chintan Haria, head-investment strategy, at ICICI Prudential Mutual Fund for answers.
The improving outlook for the power sector has caught the interest of dividend yield funds.
In the first four months of the current financial year (2023-24, or FY24), five of the six largest dividend yield funds have shown a notable increase in their exposure to stocks within the power sector.
Some have even introduced new stocks to their portfolios.
ICICI Bank Limited reported strong Q1-2024 results, with core operating profit up 35.2% YoY, profit after tax up 39.7% YoY, and total period-end deposits growing by 17.9% YoY. The bank maintained healthy asset quality and capital adequacy.