Bitcoin, Stamp Duty on MF, & more!

What makes Bitcoin such a polarizing them? In a short span of 10 years bitcoin has been both compared to the tulip mania and hailed as being a decentralized monetary revolution. Which one is it really? Gaurav, Founder & CEO – Kuvera.in speaks with Gaurav, CEO of Bitbns and Advait, Senior Correspondent at Bloomberg Quint, to demystify bitcoin and dive into legalities and long term prospects of owning bitcoin. #KuveraInsights

 

 

Earlier this week, Bloomberg reported that there has been a surge in the number of companies not providing adequate information for the assessment of creditworthiness. As per a document submitted to RBI by rating agencies which was seen by Bloomberg, 47% ratings now fall under the “not cooperating” category, more than double compared to 22% in March 2018. The report also states that 95% of these ratings are for bank loans. 

 


Source: A document submitted by rating companies to the RBI on July 1 and seen by Bloomberg.

 

Stamp Duty of 0.005% has become applicable to all Mutual Fund purchases with effect from July 01, 2020 (including lump sum, SIP, STP, switch, dividend reinvestment). The Government of India had introduced changes to stamp duty act last year and the same has come into effect now. Stamp duty will not apply to the redemption of Mutual Fund units. In essence, for a purchase order of Rs 1 Lakh, a nominal amount of 0.005% (Rs 5) will go towards Stamp duty charges. DSP MF has addressed some frequently asked questions with detailed information about the applicability of Stamp Duty.

 

 

Index Returns

Index 1W 1Y 3Y P/E P/B
NIFTY 50 2.2% -10.9% 3.3% 27.8 3.0
NIFTY NEXT 50 0.7% -5.6% -0.6% 31.3 4.0
S&P BSE SENSEX 2.4% -9.5% 4.9% 24.2 2.7
S&P BSE SmallCap -0.2% -11.9% -6.8% NA 1.9
S&P BSE MidCap 0.2% -11.1% -3.5% 27.9 2.2
NASDAQ 100 2.4% 32.3% 22.3% 42.1 5.5
S&P 500 1.5% 5.2% 8.9% 22.4 3.6

Source: BSE / NSE

 

Top 5 best performing funds

Name 1W 1Y 3Y
DSP World Gold 5.9% 53.8% 18.6%
DSP World Mining 3.7% 11.9% 13.3%
ICICI Prudential Global Stable Equity 3.7% 7.5% 7.3%
Franklin India Technology 3.5% 9.9% 15.2%
Edelweiss US Value Equity Off Shore 3.3% 4.6% 7.3%

Source: Kuvera.in

 

Top 5 worst performing funds

Name 1W 1Y 3Y
Nippon India Japan Equity -1.7% 8.8% 8.1%
Tata India Pharma & Healthcare -1.4% 30.0% 10.3%
SBI Healthcare Opportunities -1.2% 34.3% 6.0%
UTI Healthcare -1.1% 33.2% 8.6%
Franklin India Smaller Companies -1.1% -24.0% -8.7%

Source: Kuvera.in

 

What Investors Bought

We saw the most inflows in these 5 Funds –

Name 1W 1Y 3Y
Invesco India Arbitrage -0.1% 6.3% 6.5%
Axis Bluechip 1.2% -2.5% 10.5%
UTI Nifty Index 2.2% -10.3% 4.3%
Mirae Asset Emerging Bluechip 1.8% -1.8% 5.8%
Axis Long Term Equity 0.9% -5.2% 7.1%

Source: Kuvera.in

 

What Investors Sold

We saw the most outflows in these 5 Funds –

Name 1W 1Y 3Y
Edelweiss Arbitrage -0.1% 6.5% 6.8%
HDFC Hybrid Equity 1.6% -9.2% -0.2%
DSP Midcap 0.3% -0.2% 2.8%
Mirae Asset Focused 2.4% 1.8% NA
Quantum Long Term Equity Value 1.7% -18.9% -2.7%

Source: Kuvera.in

 

Most Watchlisted Fund

Top 5 funds added to watchlist by Kuverians

Name 1W 1Y 3Y
Franklin India Feeder Franklin US Opp… 0.8% 32.1% 25.1%
Parag Parikh Long Term Equity 1.7% 8.9% 10.8%
ICICI Prudential US Bluechip Equity 1.2% 21.8% 16.9%
PGIM India Global Equity Opportunities 3.1% 42.7% 26.2%
Axis Bluechip 1.2% -2.5% 10.5%

Source: Kuvera.in

 

Top ELSS funds

Name 1W 1Y 3Y
Mirae Asset Tax Saver 1.9% -4.0% 6.8%
SBI Magnum Tax Gain Scheme 1.9% -9.1% -0.3%
Principal Tax Saving 1.8% -10.6% 0.1%
Union Long Term Equity 1.8% -4.8% 2.6%
BNP Paribas Long Term Equity 1.7% -2.5% 3.7%

Source: Kuvera.in

 

 

Movers & Shakers

1/ Nippon India Mutual Fund has announced that Varun Goenka and Nikhil Rungta have been re-designated as Fund Managers of Nippon Life India Asset Management Limited, with effect from 01 July. 

2/ Mirae Asset Mutual Fund has appointed Malini Thadani as Additional Independent Director on the Board of Mirae Asset Trustee Company Private Limited.

3/ Motilal Oswal Mutual Fund has announced that Akash Singhania ceases to be co-fund manager of Motilal Oswal Midcap 30 Fund. Niket Shah will take on sole managerial responsibilities of the scheme.

 

 

Quote of the week:

 

 

A man should hear a little music, read a little poetry, and see a fine picture every day of his life, in order that worldly cares may not obliterate the sense of the beautiful implanted in the human soul.

: Johann Wolfgang von Goethe

 

 

Interested in how we think about the markets?

Read more: Zen And The Art Of Investing

 

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