Recently news broke that the investors ousted both the founders of FundsIndia. This came as quite a surprise to everyone, but a little bird had vaguely told me a couple of months ago of some of the bad tidings there.
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Ever since the IL&FS default and the ZEEL saga, investors and commentators have been wondering about the next crisis in debt mutual funds. Well, as the old saying goes, Be Careful What You Wish For… It Just Might Come True. Come true it did!
Well, DHFL Pramerica Mutual Fund finally sent out a communique to all its investors on the DHFL fiasco. Remember DHFL funds fell anywhere between 10% to 50% post the default by Dewan Housing (DHFL). Luckily for the mutual fund, it’s exposure was not as high as others such as UTI MF and Reliance MF and the schemes were small in size. But the fall in percentage terms looks horrific.
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The election results are set to be announced on May 23rd. And the markets are clearly spooked because they know something – Modi isn’t coming back to power, perhaps? This does make sense given that most informed experts are predicting that the BJP will find it hard to come back to power. And these are some of the smartest people around, so, their word means something.
Read MoreCame across this tweet by Professor Sanjay Bakshi and I just had to share this. The ability to destroy our best held beliefs and ideas.
Hedge Funds have this mystical aura around them. Reclusive, eccentric geniuses who can deliver insane returns. But facts are always stranger than fiction. Year to date, the S&P 500 has beaten the popular hedge fund indices.
Read MoreI’m not a Buffet or a Munger fan boy nor do I think that investors should hang on every word of theirs. But, you’ll have to admit, these two can be incredibly funny. Here’s are 2 funny clip their views on Bitcoin.
Zoltan Pozsar is the Managing Director of Investment Strategy and Research at Credit Suisse. Prior to this, he was a senior adviser to the US treasury. So there is nobody better to explain what the money markets are, how they work, and the interplay with the broader economy.
In this absolutely fascinating conversation, Zoltan talks about everything from what money markets are, regulatory changes, yield curve inversion, to the impact of the inversion on carry trades and why foreign investors are cooling off on US debt.
Axis mutual fund has filed to launch a Nifty 100 index fund. This will be the first index fund based on the index. There are 3 ETFs by Reliance, LIC, and ICICI but like most of the ETFs in India, they are illiquid. DSP and Principal, however, offer Nifty 100 equal weight funds.
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