CAMS brings to you the important happenings in the BFSI segment during this week. In this weekly roundup, we will attempt to cover key events, milestones, regulatory updates that have an impact on the BFSI sector in India and the world.
A New York based mutual fund specialising in high yielding, risky bonds has recently fallen into difficulties, following the slump in oil and gas prices. The fund has blocked investors from getting their money back.
A recent report from a US based research organisation says India ranks fourth in black money outflows with USD 51 billion being taken out of the country each year. China tops the list followed by Russia as per the report.
The total equity assets managed by fund houses in India, has crossed Rs.4 lakh crore, a first time record in the history of the industry. This indicates that domestic investors are using mutual funds to return to the stock market.
Members of AMFI have agreed to cap the upfront commission for agents and distributors at 1% of the total amount that an investor invests in a scheme. SEBI hopes that this policy effective from January 1, 2016, will prevent mis-selling of mutual funds.
The Insurance Industry in Tamil Nadu is expecting claims of around Rs.3000 crore due to the Chennai floods. Despite this, insurers have relaxed their norms and are asking for lesser documentation and waiving some charges.
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