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EPFO to invest Rs 20,000 crore in equities in 2017-18
Retirement fund body EPFO will invest Rs 20,000 crore in exchange traded funds this fiscal as it has decided to raise the investment limit in ETFs, Union Minister Bandaru Dattatreya said on Sunday.

Old and rusty insurance industry awaits its Uber moment in India
In economics, as well as in politics, there is a classical divide between strategists: growth or distribution? Jagdish Bhagwati or Amartya Sen? Republican or Democrat? GDP or Social Security? Those who pump up for growth, want free enterprise to flourish with as little interference as possible from the government. Taxes should be less and opportunities ought to be open so that everyone competes and the economy as a whole grows bigger, with everyone sharing all the benefits.

Insights into IIFL Wealth's growth journey
We started off as a professional entrepreneurship firm. In some ways, we are professional. IIFL is obviously a large listed company and we kind of got together to start this off. But growth is coming out of three things really; one our biggest growth has been new money to the market as opposed to necessarily moving existing assets from other private wealth firms to ours and new money is largely a function of three sources.

Fund managers calm on IDBI downgrade
Despite downgrades by three rating agencies on IDBI Bank’s additional tier-1 bonds (AT-1) this week, fund managers are not distressed. Collectively, fund houses have an exposure of nearly Rs7,500 crore to these papers. They say it’s only a downgrade and does not necessary mean default. “The schemes’ net asset value (NAV) had taken the hit early this week but got averaged out, thanks to diverse holdings,” said a senior debt fund head.

If your fund's turnover ratio is too high, watch out
The turnover ratio tells you how much a fund manager churns his portfolio. A ratio of 100 per cent means the manager holds stocks within his portfolio for one year on an average. Remember, there is a cost to trading. If the manager’s hectic buying and selling does not work, the fund would have incurred a cost without commensurate gain. Prefer funds with relatively lower turnover ratio and a sound record. It indicates the manager is convinced about the stocks he has bought and is willing to wait till his investment ideas work out.

IPO mart revs up in 3 yrs of Modi govt, garners Rs 45,000 cr
Three years since Narendra Modi was sworn in as prime minister, the mood in the primary market has improved. Fifty-seven Initial Public Offers of equity (IPOs) have hit the market in this period and collectively garnered about Rs 45,000 crore. In this period, the benchmark indices surged 24 per cent. Of these offers, 16 had an issue size in excess of Rs1,000 crore. The biggest IPOs were of ICICI Prudential Life Insurance (Rs6,057 crore), Inter Globe Aviation (Rs 3,025 crore), PNB Housing (Rs3,000 crore) and Equitas Holdings (Rs2,177 crore)

Online FATCA certification for NPS compulsory
National Pension System (NPS) account holders registered on or after July 1, 2014, are mandatorily required to submit FATCA Self-certification. Now, they can do so online instead of sending the documents physically, by logging on to the website (www.npscra.nsdl.co.in) and completing the certification process online.

The simple insurance plan that is complex
Insurance Regulatory and Development Authority of India (Irdai) has taken many steps to increase the distribution footprint of insurance products in India. And in order to get more feet on the street, the regulator has allowed the industry to make use of point of sales persons (PoSPs).

IDBI downgrade leave MFs open to huge mark-to-market losses
Mutual fund companies such as UTI MF, HDFC MF, and 17 others are staring at at least 15% to 20% mark-to-market losses after the rating downgrade of IDBI Bank questioned its ability to repay despite the fact that it enjoys sovereign backing.

Clients' idle money to slip out of brokerages' hands
A cheap and easy source of funding for retail brokerages is set to dry up soon. Brokerages will not be allowed to use the money of clients to finance other trades from July 1, possibly triggering a sell-off in small-cap and penny stocks at that time. The move is aimed at preventing brokers from misusing client funds, a concern that prompted the Securities and Exchange Board of India to push for tighter rules.

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