Mutual fund industry's assets base has surged by nearly Rs 3 lakh crore in 2014-15 to become a Rs 12 lakh crore market, mainly driven by a smart rally in the equity market.
Sebi relaxed its norms by dropping the '20-25 rule', which required a minimum of 20 investors and a cap of 25 per cent on investment by an individual, for funds from low-risk foreign investors.
Mutual fund houses are tapping social media platforms like WhatsApp and a host of other calling and messaging apps to facilitate transactions in MF products.
Equity assets — which include equity schemes, equity linked saving scheme and balanced schemes — of B-15 cities in March 2013 stood at R65,000 cr and almost touched R1.3 lakh crore in December 2014.
Rising tide in stock market seems to have bypassed pension funds even as net inflow into equity schemes of mutual funds have hit a record Rs 55,782 cr...