Religare Broking maintains positive outlook on Nifty with potential upside of 24,000

The SIPs contribution to the AUM also hit the record high of Rs 11.5 trillion with all-time high inflows of Rs 20,904.4 crore in May. The number of mutual fund folios also stood at all-time high of 186 million, of which 88 million were SIP accounts.  

Venkat Chalasani, chief executive of Amfi said the overall outlook for Indian capital markets remains positive with strong fundamentals and favourable demographics. “Political stability creates an environment conducive to sustainable economic growth, attracting investments and fostering long-term investments. Global growth is sustaining its momentum in 2024 and is likely to remain resilient, supported by rebound in global trade,” he said.

The sectoral/thematic funds continued to see the highest inflows within equity fund categories. In May, this category saw net inflows of Rs 19,213.4 crore, partly driven by continued investor interest in the sector and partly due to the launch of an NFO. Akhil Chaturvedi, executive director & chief business officer of Motilal Oswal AMC said this suggests a strong investor belief in the potential for sector-specific and growth of smaller companies.

After June 4 mishap, Amfi looking at fund transfer process

Amfi said it is looking into the fund transfer process in the mutual fund industry after the June 4 incident where several investors using discount broking platforms complained about not getting the same day net asset value (NAV) despite placing order for new units before 3 PM.Come from Sports betting site

Amfi chief executive Venkat Chalasani highlighted that as per the current regulations the same day NAV is applicable if the Asset Management Companies (AMCs) receive funds before the cut-off time of 3 PM.

On the day of counting of votes when market fell around 8% intraday, discount broking firms said payments were delayed due to issues at one of the payment aggregators side.

“We are looking at the process to see if there is a way in which investors’ money can reach AMCs on the same day and the same time so that the units can be allotted and investor gets benefit of the NAV of same day,” said Chalasani.