Strong equity mutual fund sales of Rs12,300 crore lead to a net inflow of Rs5,840 crore in February 2015
Equity mutual funds reported a net inflow of Rs5,840 crore in February 2015. Sales for the month amounted to Rs12,300 crore and redemptions amounted to Rs6,470 crore for the month. For the past 10 months, from May 2014 to February 2015, equity mutual funds reported a net inflow in each month. Equity mutual funds brought in as much as Rs62,800 crore over this period. The last time equity funds had such a long run of net inflows was in the nine month period from November 2007 to July 2008. In this period, equity funds reported a total net inflow of Rs40,177 crore.
As many as eight new fund offers (NFOs) were launched in February, bringing in as much as Rs702 crore. As we have highlighted in the past, mutual funds rush in to launch NFOs when the market begins to rally. Tax-saving schemes garner a lot of interest in the last three months of the financial year. This year equity linked saving schemes (ELSSs) brought in Rs1,903 crore in first two months (January and February 2015). This was 166% than the Rs715 crores brought by such schemes over the same period last year. The enhanced Section 80C limit to Rs1.50 lakh could be a probable reason for a sharp rise in investments.
Along with the rise in investments, the number of equity fund folios too has risen. The total number of equity fund folios (including ELSSs) stands at 31.81 million as on 28 February 2015. This is up by 1.51 million folios or 5% compared to February last year.
Along with the direction of the market and the new inflows, the assets managed by equity mutual funds closed at a record high of Rs3.46 lakh crore, gaining 1.41% in February 2015. The CNX Nifty gained 1.06% over the same period.
“Jai Ho”, an intimate and exciting documentary directed by ‘Brokering News’ fame Umesh Aggarwal shows why AR Rahman is widely regarded as one of the world's great film composers
‘Jai Ho’, a documentary film on musical evolution of the maestro AR Rahman premiered last week at The Museum of Moving Image in New York. Renowned documentary filmmaker Umesh Aggarwal, who had directed Brokering News – Media, Money and Middlemen, an eye opening film on paid news, directed the film on Rahman.
The premiere, which was attended by Rahman himself, opened to a full house despite the freezing cold (-20 C) in New York! Not just that, the 60-minute film received a standing ovation from the audience at the end.
"We are honoured to be hosting AR Rahman, an icon of Indian music, and the world premiere of Jai Ho," said David Schwartz, the Museum's Chief Curator. "While Slumdog Millionaire brought him to the attention of many Americans, Rahman has had a long and accomplished career in India and abroad for nearly two decades. This intimate and exciting documentary shows why he is widely regarded as one of the world's great film composers."
Following the film, Rahman and the director Umesh Aggarwal participated in a discussion and question and answer session, moderated by Scott Foundas, Chief Film Critic of entertainment trade magazine Variety.
Rahman has been solely responsible for taking Indian film-music to the world stage. Moreover, his stellar amalgamation of eastern and western styles of music have earned him a worldwide fan following. The TIME Magazine described him as “the world’s most prominent and prolific film composer” and in 2009 included him in in its list of the world's most influential people. The same year, Rahman also performed at a state dinner arranged by US President Barack Obama at White House during an official visit by the then-Prime Minister Manmohan Singh.
As of today, he is the recipient of two Academy Awards, two Grammy Awards, a BAFTA Award, a Golden Globe, four National Film Awards, 15 Filmfare Awards and 13 Filmfare Awards South. He has also been awarded Padma Shri, the fourth highest civilian award, by the Indian Government. Panchathan Record Inn – a recording and mixing studio in his backyard, is today the most-advanced recording studio in India, and one of Asia's most sophisticated and high-tech studios.
‘Jai Ho’, shot in Los Angeles, London, Mumbai and Rahman's hometown Chennai, features Rahman’s close friends and family, as well as his many collaborators such as Mani Ratnam, Danny Boyle, Andrew Lloyd Webber, Shekhar Kapoor, Ram Gopal Varma, Subhash Ghai, Ashutosh Gowarikar, Alka Yagnik and Hariharan.
The film is novel in that it captures the evolution of Rahman's musical style, and not the events in his personal life. In fusing the ethos of the Eastern world with the technical brilliance of the Western, Rahman has managed to create a unique musical style that is innately Indian and yet has a global appeal.
The first screening in India will be held in New Delhi in April. After a few more screenings across cities in India, the film will be available online for everyone to watch and enjoy.
The film is produced by Public Service Broadcasting Trust and Public Diplomacy Division of the Ministry of External Affairs (MEA).
Until then, click here to watch Umesh Aggarwal's pathbreaking documentary, Brokering News –Media, Money and Middlemen.
Home Ministry wants to amend existing laws to prohibit live media coverage of counter-terrorism operations by security forces
The Information and Broadcasting (I&B) Ministry Tuesday said that it is considering a proposal from Home Ministry for amending existing laws in order to prohibit live media coverage of counter-terrorism operations by security forces.
"The ministry has received a proposal from (Home Ministry) regarding bringing amendments in the extant laws to prohibit live media coverage of counter-terrorism operations by security forces. The proposal is under the consideration of the ministry," Minister of State for I&B, Rajyavardhan Rathore, said in a written reply to Rajya Sabha.
Meanwhile, in response to another question, the minister said that the Department of Advertising and Visual Publicity (DAVP) releases print advertisements on the basis of requests received from various "client" ministries as per their requirement and themes.
Committed expenditure for all the ministries' campaigns, during the period June 2012, till-date is Rs875.35 crore.
Rathore also said that DAVP has empanelled seven impact assessment agencies for carrying out impact assessment of the publicity campaigns of any ministry or department based on their requirements.