In an interview with Mint, fintech entrepreneur Sanjiv Shah talked about his recent work, trends in the ETF space and anecdotes from his MF industry days
The mutual fund industry displayed remarkable resilience, witnessing a substantial 20% surge in Assets Under Management, reflecting both its adaptability and significant growth amidst challenges.
The Employees Provident Fund Organisation (EPFO) made its maiden investments in the National Stock Exchange Nifty50 and the S&P BSE Sensex exchange-traded funds (ETFs) offered by Nippon India and ICICI Prudential (IPru) in July.
These two fund houses are now in the company of public sector bank-linked players SBI Mutual Fund (MF) and UTI MF, whose products have traditionally been used by the retirement fund body.
EPFO s investment corpus was routed through Nippon and IPru nearly three months after they were approved for empanelment with the social security organisation.
Time for MFs to make their votes ‘count’
March 12, 2021
SEBI directs MFs to compulsorily vote in corporate resolutions
To improve transparency and encourage mutual funds to diligently exercise their voting rights in the interests of unitholders, SEBI’s recent circular has mandated mutual fund houses to
compulsorily vote on all resolutions involving approval.
Until now, MFs were only required to record and disclose the rationale behind exercising their voting rights in companies, but were not required to compulsorily vote.
However, MFs with no economic interest on the voting day may be exempted from compulsorily casting votes, SEBI said.
From April 1, MFs have to compulsorily vote in all corporate governance matters: changes in the state of incorporation merger and other corporate restructuring and anti-takeover provisions; changes to capital structure, including increases and decreases of capital and preferred stock issuances; stock option plans and other management co