By G. Sekhar
Dr. Sekhar deals accomplished wisdom at the mutual fund in India and offers ready-made sensible info for traders. He offers an summary of funding styles for either private and non-private area mutual money, and analyses the functionality of chosen schemes utilizing quite a few measures of chance.
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Additional info for The Indian Mutual Fund Industry: A Comparative Analysis of Public vs Private Sector Performance
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6 *Includes mutual funds and closed-end funds as of September 1992. Source: Business Weekly, 18 January 1993. 2 The leading investment bankers of mutual funds at international level during 2002 S. no. P. 3 9 Mutual funds abroad on 30 September 1995 S. no. Country 1 2 3 4 US France Japan UK Total number of mutual funds Total investible funds (billion US$) 4,800 5,900 4,300 1,390 2,400 510 500 125 Source: Gordon and Natarajan, ‘Financial Markets and Services’, 2008. 4 Sectoral view of funds in the US financial markets, 1995–1999 (in billion US$) S.
Legislative changes/other recommendations to the government: Collective Investment Management schemes registered with SEBI should be exempted from the provisions of the land ceiling acts, or alternatively the government may consider granting industry status to these schemes. Suitable clarification from the government on the taxation issues involving income was earned by the investors from investment in these schemes. To promote long-term investment in plantations, the Government of India may consider granting suitable tax deductions along the lines of those given to Infrastructure Projects.
The parking of funds in short-term deposits of associate and sponsor SCBs together should not exceed 20% of total deployment by the mutual fund in short-term deposits, it added. The SEBI said that these guidelines are aimed at ensuring that funds collected in a scheme are invested as per the investment objective stated in the offer document of an MF scheme. The new guidelines would be applicable to all fresh investments whether in a new scheme or an existing one. In cases of an existing scheme, where the scheme has already parked funds in short-term deposits, the AMCs have been given a three-month time to conform to the new guidelines.