Power Grid InvIT mops up ₹ 3,480 crore from 47 anchor investors
K.R.Srivats
New Delhi |
Updated on
April 29, 2021
Public issue of Power Grid InvIT opens today; price band is ₹ 99-100 per unit Maharana company Power Grid Corporation’s InvIT offering got off to a strong start, with the anchor book seeing a mop-up of ₹ 3,480 crore on Wednesday from 47 institutional investors that included many international and leading domestic funds. The amount mobilised through the anchor book accounted for nearly 45 per cent of the targeted ₹ 7,735 crore from the public issue.
The public issue of this InvIT, first ever from a public sector company, opens on Thursday and has a price band of ₹ 99-100 per unit.
Securities and Exchange Board of India today said that asset management companies must pay at least 20 per cent of gross salary of key employees in the form of the units of the scheme managed by them.
Industry Voice: Back to Reality Part I - Sustainable Investing
The Important Role of Active Management in Defined Contribution Schemes
Kim Crabtree @ MFS Investment Management
26 April 2021
In Brief
In the first of this 3-part series, we challenge common misconceptions that have led to the increased prevalence of passive investments in defined contribution (DC) schemes.
To help trustees and corporate advisors weigh the pros and cons of active management, we perform a reality check on each misconception, referencing fiduciary principles and market and member survey data.
This installment addresses the misconception that sustainability is incompatible with superior investment returns.
Misconception: Sustainability is incompatible with superior investment returns.
The mutual fund industry added more than 81 lakh investor accounts in 2020-21, taking the total tally to 9.78 crore, and experts hope that the healthy growth in folios would continue in the ongoing fiscal also.
The industry had added 72.89 lakh investor accounts in 2019-20, according to data from the Association of Mutual Funds in India.
Investors are increasingly acknowledging the importance of making investments in mutual funds for meeting financial goals both long term and short term, Kaustubh Belapurkar, Director Manager Research, Morningstar India said. The awareness about investing in mutual funds has been on the rise over the last many years with the investor awareness programmes, ground work done by mutual funds, financial advisors and distributors in educating and shepherding investors through their investing journey, he added.
Hold quality MFs for the long term to build wealth
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I work for a private company. I would like to amass a sum of ₹15 lakh in 10 years. Please share the best mutual funds of 2021 or any other option that can help me achieve my goal. Sandeep K.K.
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. 07:16 AM IST
To reach ₹15 lakh in 10 years, you need to save about ₹21,000 a month, assuming a reasonable 12% return.
If you do not have market knowledge or the time to track markets, it is best to use the mutual fund route. There are no ‘best funds for 2021’ or any other year. Good, quality mutual funds are those that you can and need to hold for the long term to build wealth.