Weekly Roundup – December 12

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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.

State Bank of India, the key shareholder in the NSE has stated that it wants India’s biggest stock exchange to go public. The demand also comes from other equity investors in the exchange.

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.

RBI will be announcing guidelines shortly to determine the base rate for banks to ensure effective monetary policy transmission

 
About CAMS:

Computer Age Management Services (CAMS) is India’s premier Mutual Fund Transfer Agency serving over 60% of assets of the industry across 15 Mutual Funds. Leveraging superior technology, CAMS brings several innovative services to Mutual Fund investors and distributors. CAMS is also is a service partner to leading insurance companies, banks, NBFC’s and private equity funds. To know more visit www.camsonline.com .

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Published by

Sudarshan Ranganthan

Breaths Investments, Suggests Wealth Creation Ideas, Lives on Law Of Attraction

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