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Best Mutual Funds to Invest in India amidst Volatility

22Oct By PriyankaNo Comments

Market

Best Mutual Funds to Invest in India amidst Volatility

While there are many investment platforms online that allow investing in mutual funds within minutes, the question about which mutual fund to invest in persists. To help you decide, we have compiled a reviewed the best mutual funds to invest based on their past performance, that you can consider. Axis Midcap Fund ReviewThe Axis Midcap Fund is rated moderately high risk but has a lower risk compared to the benchmark. The fund has managed huge outperformance relative to the index and the category average as compared to peers. This is due to the fund’s tilt towards large cap and a strong emphasis on quality mid-caps while avoiding small-cap. 1 Year3 Year5 yearAxis Midcap Direct Plan Growth15.0%13.1%13.4%Category Average0.6%6.3%NA Note: As on October 16, 2019; Category...

16May By PriyankaNo Comments

INDIA

Indian Stock Exchange BSE launch its own app for Mutual Funds

Leading stock exchange BSE Wednesday said it has launched 'BSE StAR MF' app to enable more participation and help mutual fund distributors process transactions faster. "BSE StAR MF mobile app supports real-time client registration and paperless transactions, creates and uploads mandate for SIPs, generates the basket of multiple orders, tracks and allows the distributor to analyse his business at his fingertips," the exchange said in a release. The app can be downloaded from Google Play Store.Once the app is downloaded, the sign up can be done by providing the member identification number, it added. "The launch of the app would further provide comfort of doing business to our 24,000 members. This app would not only increase their productivity, but would also enable IFAs (Independe...

5 Best Mutual Funds To Invest in For Long Term Benefits

16Jul By Gauri SinghNo Comments

Market

5 Best Mutual Funds To Invest in For Long Term Benefits

A mutual fund is an investment fund where the many investors pool their money for the purpose of investing in securities including stocks, bonds, money market instruments and other assets. Since the money is pooled up, it is called a mutual fund. These investors may be retail or institutional in nature. There are various kinds of mutual funds that one can invest in for long-term benefits. Today, we will talk about the five best mutual funds that may be beneficial for the investors. 1) Money market funds The money market funds are comprised of safe short-term debt instruments that generally include Treasury bills. This is a safe place where the investor can put in their money. The people won't get considerable returns, but they won't have to worry about losing their...

This Indian Bank Becomes First to Use Facebook Messenger For Mutual Fund Transactions

11Jul By NitishNo Comments

Market

This Indian Bank Becomes First to Use Facebook Messenger For Mutual Fund Transactions

India's largest private sector bank HDFC becomes the first Indian bank which offer mutual fund transactions through Facebook Messenger. HDFC securities, a subsidiary of HDFC Bank launch a theme called "The Pace of Innovation" which is structured to innovate and provide intuitive and relevant digital solutions to customers and this effort, is in line with the vision. This particular feature, apart from mutual fund investments, facilitates a quick overview of total portfolio holding, getting the latest stock quotes and opening an account. ALSO READ: After Tata Group, HDFC Crosses Market Cap of Rs 10 Trillion Here's a guide to how this works: -Go to Facebook Messenger and search for hdfcsec.Arya -Can open a trading account -Post login, one can complete MF transactio...

30Jun By NitishNo Comments

FUNDING

FinTech Startup Sqrrl Raises Pre-series A Funding

Gurgaon-based startup Sqrrl Fintech has raised USD 1 million in their Pre-Series A funding round from Equanimity Venture Fund. Launched in March 2017 by trio Samant Sikka, Dhananjay Singh and Sanjeev Sharma the app is aimed at helping young Indians to build the habit of savings and investments. Post this funding round, Rajesh Sehgal, the Managing Partner of Equanimity Investments, will join the board of Sqrrl Fintech. It allows users to invest in high performing (zero-commission) mutual funds based on their investment needs, risk horizons & goals. Further, with a feature to round up your spending to INR 100 or INR 500, Sqrrl automatically invests the leftover amount, making it extremely convenient for the young generation to save while they spend. Sqrrl is a mobile app only ap...

29May By NitishNo Comments

FUNDING

Mutual Funds Investment Platform Raises $1.6Mn Series A Funding

Mumbai, May 29, 2018: Orowealth, India’s first zero commission Direct Mutual Fund Platform has raised $1.6 mn in Series A funding. The funding round was led by Powerhouse Ventures with participation by Money Forward Inc., one of the largest publicly listed fin-tech companies in Japan; a prominent US VC Social Capital, under their Capital as a Service program; B Dash Ventures, one of the largest VCs in Japan; and other prominent angel investors including Anand Chandrasekaran, ex CPO Airtel and Dinesh Agarwal, Founder Indiamart. Existing investors M&S Partners and GSF also participated in this round. Post funding, Sri Peddu from Powerhouse Ventures will join the Board and Money Forward will take a Board observer role at Orowealth. This is the second round of funding for the ...

LIC Marks Record Breaking Profit Booking of Rs 25000 in FY18

17Apr By Lavina TolaniNo Comments

Market

LIC Marks Record Breaking Profit Booking of Rs 25000 in FY18

Indian state-owned insurance and investment company, Life Corporation of India has booked record equity trading profits of Rs. 25,000 crore in 2017-18, much above Rs. 19,000 crores a year ago as informed by sources. LIC is known to adhere equity assets including mutual funds and shares worth Rs. 5 trillion (until the end of December) and profits approximately 5% of assets under management. Meanwhile, the company is working on its annual accounts, the same will be published in May. "The stock market has mostly been resilient in the past year and LIC has managed to get enough selling opportunities", reported a source on the promise of anonymity. Record-breaking profit from LIC is signaling a positive message if the insurer enhances its market exposure at the same time. This will ...

7 Income Tax Changes to Take Effect From April 1, 2018

2Apr By Lavina TolaniNo Comments

INDIA

7 Income Tax Changes to Take Effect From April 1, 2018

While we have already begun with our new financial year, there is a lot to look forward in the coming months. Finance Minister, Mr. Arun Jaitley did very less for taxpayers or middle-class salaried employees in Union Budget 2018, yet there are a few tax proposals that are going to significantly affect your earnings and lifestyle in the upcoming year. Herein, we will focus on 10 such tax rules that you should take keynote for the financial year 2019 which will come into effect from April 1, 2018. Standard Deduction Gets Re-introduced Coming as a much-needed relief to the salaried class, a standard deduction of Rs. 40,000 for medical expenses and transport allowance has been provided.While the net benefit will reduce down to Rs. 5,800, the pensioners too will be eligible to avail...