Were the Debt Problems Unexpected for MFs? – I: The Aditya Birla Sun Life Case
Over the past six months, one by one, several large investments of debt schemes of a few fund houses have gone bad or are about to go bad. These include investments in group companies of Infrastructure Leasing & Financial Services (IL&FS), (IL&FS Tamil Nadu Power, Jharkhand Road Project, IL&FS Education, etc. Large investment in holding companies of Dewan Housing & Finance is questionable,...
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  • Aditya Birla Sun Life Retirement Fund: Should You Invest?
    Aditya Birla Sun Life (ABSL) Mutual Fund (MF) has also launched a retirement scheme, closely following the launch of a similar scheme by ICICI Prudential MF. ABSL Retirement Fund is an open-ended retirement solutions-oriented scheme, coming in four variants, with a lock-in period of five years or retirement age, whichever is earlier. The new offer period for investing has already commenced...
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  • Reliance Capital Invites Nippon Life to Buy its Entire 42.88% Stake in Mutual Fund Business
    Reliance Capital Ltd has invited Japanese Nippon Life Insurance Co Ltd to acquire its entire 42.88% stake in the mutual fund business. Both Reliance Capital and Nippon Life hold equal stake in the mutual fund business in India. 
     
    In a regulatory filing, Reliance Capital, while responding to media queries, says, "Reliance Capital has invited its partner, Nippon Life to make an offer to acquire up to 42.88% stake held by Reliance Capital in Reliance Nippon Life Asset Management Ltd (RNAM)."
     
    Both Reliance Capital and Nippon Life Insurance hold 42.88% stake each in RNAM. 
     
    RNAM is the asset manager of Reliance Mutual Fund (RMF) schemes. RMF has a pan India presence across 298 locations and over 71,100 empanelled distributors.
     
    At 2.50pm Thursday, Reliance Capital was trading 9% up at Rs157.95 while RNAM was trading 20% higher at Rs187.05 on the BSE. The 30-share Sensex was marginally up at 35,923 at that time.  
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