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Top AMCs join hands with NSE & CIEL to create 50K New Mutual Fund Distributors


Top AMCs join hands with NSE & CIEL to create 50K New Mutual Fund Distributors
​ By
IANS
|
Published on
​ Tue, Mar 16 2021 15:27 IST
|
​ 5 Views
 
SEBI may issue norms for minimum holding in liquid assets for MFs. Image Source: IANS News
New Delhi, March 16 : Asset Management Companies along with NSE and CIEL have joined hands to build 50,000 new to industry Mutual Fund Distributors (Financial entrepreneurs) over the next three years.
This is being done under the aegis of ExpertMFD,a first pan-India collaborative initiative comprising of top AMCs who manage over 2/3rd of total AUM in Mutual Fund Industry.
The MFs include marquee names like Aditya Birla Sun Life Mutual Fund, Axis MF, ICICI Prudential MF, L&T MF, Nippon India MF, SBI Mutual Fund and Sundaram MF who have joined hands with NSE (National Stock Exchange) and CIEL (Centre for Investment Education and Learning). ....

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Mutual Funds continue to trim positions in heavyweights in February


In February, mutual funds continued to trim positions in heavyweights such as Bharti Airtel (Rs 2,800 crore), HDFC Bank (Rs 1,700 crore), Reliance Industries (Rs 1,500 crore) and HDFC (Rs 1,400 crore) as investors continued to redeem money in equity schemes.
Positive flows were seen in NTPC (Rs 700 crore), IndusInd Bank (Rs 700 crore) and L&T (Rs 650 crore). Most large MFs remained underweight on banking and overweight on capital goods. Mid-cap additions included SAIL (Rs 540 crore), IRCTC (Rs 430 crore) and Jindal Steel (Rs 290 crore), while major reductions included Dixon Tech (Rs 440 crore), Max Fin (Rs 400 crore) and PI Industries (Rs 390 crore).
Small-cap additions were PVR (Rs 380 crore), Railtel (Rs 280 crore) and ESAB (Rs 230 crore) while key reductions were Engineers India (Rs 240 crore), Indian Energy Exchange (Rs 160 crore) and Just Dial (Rs 140 crore). ....

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