Thanks to your support and recommendation we now advise on over Rs 6,000 crores in assets on Kuvera. Additionally, our users are tracking over 1.5 tonnes of gold on our site. It would not have been possible without all the #HappyKuverians
The basket of Passive funds available for investors has grown yet again, as Motilal Oswal Mutual Fund has launched two new Index funds – Motilal Oswal Nifty 50 Index Fund and Motilal Oswal Nifty Next 50 Index Fund. These open-ended schemes will track the Nifty 50 Index and Nifty Next 50 Index respectively. The new fund offerings will be open for subscription until 17 December. We are firm believers in an index first approach to portfolio management. You can see our recommended portfolio here.
The RBI has kept the repo rate unchanged, after five consecutive rate cuts. The committee stated that it will maintain an “accommodative stance as long as it is necessary.” The RBI Governor added:
The MPC recognizes that there is monetary policy space for future action. However, given the evolving growth-inflation dynamics, the MPC felt it appropriate to take a pause at this juncture. Accordingly, the MPC decided to keep the policy repo rate unchanged and continue with the accommodative stance as long as it is necessary to revive growth, while ensuring that inflation remains within the target.
In the aftermath of the announcement, the yield on the benchmark 10-year sovereign bonds rose ten basis points to 6.56 per cent.
Karvy Fintech, the Registrar and Transfer Agent (RTA) for 23 mutual funds renamed itself as KFin Technologies, in a bid to disassociate itself from the controversy surrounding its former parent company. Earlier part of the Karvy group, KFin Technologies was acquired by private equity player, General Atlantic approximately a year ago. General Atlantic announced the appointment of M.V. Nair as non-executive Chairman of the board of KFin Technologies.
Most Watchlisted Fund
Top 5 funds added to watchlist by Kuverians
|Axis Bluechip Growth Direct Plan||1.1%||19.7%||20.8%|
|Mirae Asset Emerging Bluechip Growth…||1.6%||16.6%||17.3%|
|Axis Focused 25 Growth Direct Plan||1.2%||17.5%||19.3%|
|SBI Banking & Financial Services…||1.8%||25.4%||22.6%|
|Axis Long Term Equity Growth Direct||1.3%||16.2%||17.4%|
Movers & Shakers
1/ IDBI Mutual Fund has announced that Dilip Kumar Mandal ceases to be a Managing Director and Chief Executive Officer and Key Personnel of IDBI Asset Management Limited, with effect from 30 November 2019.
2/ PGIM India Mutual Fund has announced that Viral Shah has been designated as the Co-fund manager of PGIM India Credit Risk Fund along with Kumaresh Ramakrishnan with effect from 01 December 2019. Further, he shall also be the Key Personnel of PGIM India Asset Management Pvt. Ltd.
Quote of the week:
Inflation is always and everywhere a monetary phenomenon.
Interested in how we think about the markets?
Read more: Zen And The Art Of Investing
Watch/hear on YoutTube: