Readings: Importers’ forex bet, Mutual Fund assets & performance
- Hindu Business Line: Importers betting on rupee gaining more
. . . along with the importers, corporates with external commercial borrowings have also begun reversing their hedges on debt service payments.
Bankers said that most importers/corporates have taken the position of a rupee appreciation in the coming weeks. This position was taken on the basis of the current trends in capital flows and expectations of a further reduction in U S interest rates when the Federal Reserve Bank’s FOMC meets this month end.
- Again from HBL: It’s flat Sept for asset management firms
Assets under management by mutual funds have remained flat for September, despite the BSE Sensex rising by over 13 per cent during the month. Preliminary figures put out by the Association of Mutual Funds of India show assets under management of 28 funds for September at Rs 4,39,905 crore.
- Moneycontrol: Which funds outperformed Sensex in Sept
In the equity-diversified category 28 funds out of the 186 funds outperformed both BSE Sensex and NSE Nifty, while 32 funds outperformed the Nifty. In the equity tax saving category, five scheme out-performed the broader indices.
And yet, all of them charged humongous entry/exit loads & management fees.
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