Latest news with #Fund
Mint
8 hours ago
- Business
- Mint
Stock market this week sees top gainers and losers you can't ignore
India recorded a current account surplus of USD 13.5 billion (1.3% of GDP) in Q4 of FY25, marking the first surplus in four quarters and showcasing the country's strong external position. This positive development was driven by record-high services exports and robust remittance inflows, which together reinforced the resilience of India's external sector. For the full fiscal year FY25, the current account deficit narrowed to just 0.6% of GDP, down from 0.7% in FY24, highlighting improved trade dynamics and better foreign exchange management. A surplus in the current account not only reflects strong demand for Indian services globally but also strengthens the Indian rupee, boosts investor confidence, and reduces the country's dependence on foreign capital. This positive shift enhances India's macroeconomic stability and signals a favorable outlook for global investors, making the Indian economy more resilient to global uncertainties. 2. Strong investor response to recent IPOs reflects market optimism. The recent IPO activity in the Indian market has shown encouraging signs of investor confidence. Indogulf Cropsciences Limited witnessed a healthy subscription of 0.98 times, reflecting steady interest from retail and institutional investors despite a competitive environment. Meanwhile, HDB Financial Services Limited, a subsidiary of HDFC Bank, received an overwhelming response with its IPO being oversubscribed by 17.65 times, showcasing strong investor trust in its financial strength and growth prospects. Even more impressive, Sambhv Steel Tubes Limited saw an extraordinary subscription of 30.33 times, signaling robust demand for industrial and manufacturing-based stocks. These oversubscriptions across diverse sectors—agriculture, financial services, and infrastructure—indicate a positive outlook among investors and a resilient capital market. Such strong participation is a testament to India's economic growth potential and the increasing appetite for new investment opportunities, setting a vibrant tone for the upcoming IPO season. The mutual fund industry continues to innovate and diversify with several New Fund Offers (NFOs) launched by prominent AMCs, reflecting a positive momentum in investor-centric offerings. Groww AMC has introduced the Groww Nifty India Internet ETF FoF, tapping into the booming digital economy. SBI AMC launched the Nifty200 Momentum 30 Index Fund, catering to investors seeking momentum-driven strategies. Union AMC brought in the Low Duration Fund, ideal for short-term parking with stability. Zerodha AMC unveiled its Silver ETF FoF, enabling access to precious metals diversification. *Kotak AMC's Nifty 200 Quality 30 Fund emphasizes high-quality stocks, while Bajaj Finserv AMC introduced a Small Cap Fund targeting high-growth potential companies. Lastly, Mahindra AMC launched a Banking & Financial Services Fund, aligned with India's robust financial sector outlook. These NFOs present varied and strategic investment opportunities, catering to diverse investor needs and reinforcing positive sentiment across asset classes. Index Returns Best Performers Worst Performers Bought and Sold Most Watchlisted Kuvera is a free direct mutual fund investing platform. Unless otherwise stated data sourced from BSE, NSE and kuvera.
Hindustan Times
10 hours ago
- Health
- Hindustan Times
US teen walks off 120-ft cliff while hallucinating due to altitude sickness; in coma
A 14-year-old boy from California walked off a 120-feet cliff while hallucinating due to altitude sickness. Zane's father Ryan Wach said that during the 19 hour-hike, his son began showing signs of altitude sickness. (Go Fund Me) The boy, identified as Zane Wach, fell from Mount Whitney in the Sierra Nevada mountain range in front of his father on June 10, according to the New York Post. He is currently in a medically induced coma. He sustained severe injuries including head trauma, a broken ankle, finger and pelvis, the New York Post reported citing SFGate. Zane's father Ryan Wach said that during the 19 hour-hike, his son began showing signs of altitude sickness, following which both of them started climbing down the mountain. Ryan told The Independent that Zane's altitude sickness was 'not too severe' initially, adding that he was confident about his son's ability. 'He's in better shape than I am," Ryan said. He further said that his son had hiked previously and used to regularly compete in distance running, swimming and triathlons. Therefore, Ryan said that he thought the hike could be an introduction to mountaineering for Zane. But once the tough parts of the hike were over, Ryan exhibited signs of altitude sickness, compelling his father to take a safer route to trace the seven mile-descent to their car. However, Ryan said that things started to get worse as they started climbing down the mountain. Zane started to experience hallucinations, his father said, adding that the teenager was aware of his condition. 'He said he saw things like snowmen and Kermit the Frog,' Ryan told SFGate. 'He essentially started to doubt reality' The father said that he was keeping a close eye on his son, but his symptoms got 'considerably better' after a while. But an hour later, Zane once again started hallucinating and "essentially started to doubt reality'. On their way down the trail, Zane told his father that they had already completed the hike 'multiple times over'. Recalling this as 'completely bizarre', Ryan said that Zane's behaviour could be a combination of exhaustion, sleep deprivation, dehydration and the effect of altitude sickness. 'He told me he couldn't tell if he was dreaming or not, and he would shake his head in disbelief, like, 'This is not real.' Like he was in the movie 'Inception' or something," Ryan said. While a separate group of hikers called for a search and rescue team to get Zane down the mountain, the teenager seemed like he was 'sleepwalking'. 'He started dragging his feet and stopped in his tracks,' Ryan said, adding that Zane did not want to continue. The teenager tried to get near the slope twice, once telling his father that he was going to the car, and the second time saying he was getting dinner. Seeing Zane's behaviour, Ryan became emotional and let him go briefly, according to the New York Post. 'This time, I didn't hear it until he was about at the edge, and when I went to reach for him, he was 10 feet away from me. I couldn't get him, and he walked off the edge," Ryan said. Following this, Ryan ran to get his son, meeting an EMT on the way, who helped with relief efforts. However, it took six hours for Zane to be rescued from the mountain. He was then taken to Southern Inyo Hospital in Lone Pine, and later shifted to the Sunrise Children's Hospital in Las Vegas, according to SFGate. Ryan said that his son's condition was improving, and that he had opened his eyes briefly on Wednesday. A GoFundMe campaign to pay for Zane's medical expenses has collected $23,000, which will also assist the family with their travel costs, lodging and more. 'It's going to be a survival story in the end, but right now we're still in the middle of it,' Zane's father Ryan said.
Cision Canada
16 hours ago
- Business
- Cision Canada
Starlight U.S. Multi-Family (No. 2) Core Plus Fund Completes Sale of Property in Denver, Colorado Comprising 400 Multi-Family Residential Suites and Announces Special Distribution
TORONTO, June 27, 2025 /CNW/ - Starlight U.S. Multi-Family (No. 2) Core Plus Fund (TSXV: SCPT.A) (TSXV: SCPT.U) (the " Fund") announced today that it has completed the sale of a 400-suite Class "A" institutional quality multi-family property built in 2018 and located in the Parker submarket of Denver, Colorado (the " Property") for cash proceeds of US$133.0 million. The Fund also announced a special cash distribution (the " Special Distribution") on its outstanding Class A Units, Class C Units, Class D Units, Class E Units, Class F Units, Class G and Class U Units (collectively, the " Units"), payable on July 15, 2025, to holders of Units of record at July 8, 2025. The Special Distribution amounts will be approximately as follows, subject to prevailing foreign exchange rates: C$2.7500 per Class A Unit C$2.9374 per Class C Unit C$2.7500 per Class D Unit US$2.6201 per Class E Unit C$2.8571 per Class F Unit US$2.5202 per Class G Unit US$2.5202 per Class U Unit The Fund intends to use proceeds from the sale of the Property to repay the mortgage on the Property, in full, in the amount of US$96.2M (including accrued interest thereon), as well as the Fund's unsecured debt, in full, in the aggregate amounts of US$11.8M (including accrued interest thereon) and outstanding payables. The remaining net proceeds from the sale will be distributed as described above pursuant to the Special Distribution. The net asset value of $3.50 per unit disclosed in the Fund's Management's Discussion and Analysis for the three months ended March 31, 2025, will be reduced by the Special Distribution amounts set out above. The TSX Venture Exchange (the " TSXV") has advised the Fund that it has determined to implement its "due bill" trading procedures with respect to the Special Distribution. Due bills attach to the underlying listed securities between the record date and the payment date, allowing the underlying listed securities to carry the value of the entitlement until it is paid. When due bills are used, the ex-distribution date is deferred to the first trading day after the payment date. For trading purposes, due bills will attach to the Units from the opening of business on the record date of July 8, 2025, until the close of business on the July 15, 2025 payment date (the " Due Bill Period"). This means that buyers of the Units through the facility of the TSXV during the Due Bill Period will receive the Special Distribution payment, provided they continue to be holders of the applicable Units on the payment date. The Units will commence trading on an ex-distribution basis from the opening of business on July 16, 2025, as of which date purchasers of the Units will no longer have an attaching entitlement to payment of the Special Distribution. The due bill redemption date will be July 16, 2025. As a result of the Units trading on a due bill basis during the Due Bill Period, unitholders entitled to be paid the Special Distribution owing on the due bills should expect to receive that payment on or about the due bill redemption date of July 16, 2025. Unitholders prior to the Due Bill Period who do not purchase or sell Units during the Due Bill Period will not have their applicable Special Distribution payment impacted by the due bill process. PORTFOLIO UPDATE Following the sale of the Property, the Fund continues to own a 275-suite Class "A" institutional quality multi-family property built in 2019 and located in the Alafaya submarket of Orlando, Florida and a 320-suite Class "A" institutional quality multi-family property built in 2002 and located in the Falls River submarket of Raleigh, North Carolina. FUND UPDATE The loans secured on the remaining two assets owned by the Fund had initial maturity dates of May 7, 2025. The Fund was unable to meet the loan extension requirements pursuant to the loan agreements and the Fund continues to negotiate with the lender on terms to modify and extend the loans. If the Fund is not able to otherwise negotiate an extension of such loan, the applicable lender may provide formal notice of an event of default expressing its right to demand repayment of the borrowings relating to such property. Under this scenario, the Fund may be obligated to sell such properties which may not be able to be completed on terms that are acceptable to the Fund or may be required to explore other options in the best economic interests of the Fund in order to discharge its obligations under any of the applicable loan agreements. There can be no assurances that any such sale or other liquidation events would result in additional proceeds for the Fund after repayment of all or some of the debt on each of the respective properties. The Fund's secured loans are non-recourse subject to standard limited recourse provisions and are entered into by the subsidiaries of the Fund that own only the associated secured property. As a result, the liability for any such loan would typically be limited to the value of the associated secured property, including any restricted cash reserves or other amounts held by the applicable lenders, other than in certain instances which may obligate the Fund to incur certain costs or other amounts subject to certain performance conditions. For additional information on the risks related to the Fund's ability to refinance or extend a loan at maturity, please refer to "Future Outlook" and "Liquidity and Capital Resources" in the Fund's Management's Discussion and Analysis for the three months ended March 31, 2025, which is available under the Fund's profile on FORWARD-LOOKING STATEMENTS This news release contains statements that may constitute forward-looking statements within the meaning of Canadian securities laws and which reflect the Fund's current expectations regarding future events, including the use of and sufficiency of the proceeds from the sale of the Property, the payment of distributions, the extension of loans on the Fund's properties, and the Fund's efforts to manage its liquidity. In some cases, forward-looking statements can be identified by terms such as "may", "might", "will", "could", "should", "would", "occur", "expect", "plan", "anticipate", "believe", "intend", "seek", "aim", "estimate", "target", "project", "predict", "forecast", "potential", "continue", "likely", "schedule", or the negative thereof or other similar expressions concerning matters that are not historical facts. The forward-looking statements in this news release involve risks and uncertainties, including those set forth in the Fund's materials filed with the Canadian securities regulatory authorities from time to time at Actual results could differ materially from those projected herein. Those risks and uncertainties include, among other things, risks disclosed in the Fund's management's discussion and analysis for the year ended December 31, 2025, which is available under the Fund's profile on Information contained in forward-looking statements is based upon certain material assumptions that were applied in developing such forward-looking statements including management's perceptions of historical trends, current conditions and expected future developments, as well as other considerations that are believed to be appropriate in the circumstances, including that the net proceeds from the transaction will be used as described herein; Readers are cautioned against placing undue reliance on forward-looking statements. Except as required by applicable Canadian securities laws, none of the Fund or its manager undertake any obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. ABOUT STARLIGHT MULTI-FAMILY (NO. 2) CORE PLUS FUND The Fund is a limited partnership formed under the Limited Partnerships Act (Ontario) for the primary purpose of directly or indirectly acquiring, owning and operating a portfolio of value-add, income producing rental properties located in the U.S. multi-family real estate market. The Fund now owns interests in and operates a portfolio comprising 595 suites located in Orlando, Florida and Raleigh, North Carolina. Starlight Investments is a leading global real estate investment and asset management firm headquartered in Toronto, Ontario, Canada. A privately held owner, developer and asset manager of over 70,000 multi-residential suites and over 7 million square feet of commercial property space with CAD $30B AUM, Starlight offers a range of investment vehicles across various real estate strategies. Starlight's guiding mission is to balance its tenure with visionary curiosity to create positive impact for investors and communities alike. At Starlight, we invest with impact. SOURCE Starlight U.S. Multi-Family (No. 2) Core Plus Fund
Libya Herald
21 hours ago
- Business
- Libya Herald
Libyan Italian Forum concludes with the signing of 98 MoUs
The Libyan Italian Forum (Benghazi, 25-26 June) concluded its second and final day yesterday with the Director General of the Libya Development and Reconstruction Fund, Belgassem Hafter, signing ''several memorandums of understanding with 98 specialized Italian companies'', including IVECO, the manufacturer of trucks and heavy vehicles. The Fund reported that these memoranda covered vital areas related to reconstruction and development priorities, most notably: • Infrastructure • Energy • Engineering Consultancy • Finishing and decorations (contracting/construction) • Sea and air transport • Training, capacity-building and other areas 223 Libyan companies participated in B2B meetings The Fund said the forum witnessed wide participation of more than 223 Libyan companies in bilateral business sessions (B2B) in which logistical, legal and financial frameworks were discussed to facilitate the entry of Italian companies into the Libyan market and enhance cooperation and investment opportunities. The Fund said the signing of these memorandums also comes in the context of the strategic plan of the Libyan Development and Reconstruction Fund, which aims to enhance technical cooperation with international companies and provide an effective partnership environment that contributes to the reconstruction of Libya with a focus on localising knowledge and transferring expertise to national cadres through specialised training programmes. The forum also comes as part of its strategy to support the private sector and microenterprises and provide technical and logistical support to activate international partnerships and stimulate the national economy. The forum was organized under the auspices of the Hafter controlled Libya Development and Reconstruction Fund and in the presence of the Fund's Director General, Belgassem Hafter, the President of the National Development Agency, the Mayor of Benghazi, along with several eastern based official figures. On the Italian side the Italian Ambassador, the President of the Italian Chamber of Commerce and the Consul General in Benghazi also participated in the event. . More than 100 business representatives arrive in Benghazi for the Libyan Italian Forum for Development and Reconstruction Italian airliner ITA lands at Benghazi's Benina airport for the first time in 14 years Libyan Italian Forum for Development and Construction to be held in eastern Libya in 2025: Belgassem Hafter
Time of India
a day ago
- Business
- Time of India
Quant Mutual Fund announces change in name of 4 funds
Quant Mutual Fund has announced the change in the name of its four equity funds. The changes will be effective from June 30. The fund house informed about these changes to its unitholders through a notice cum addendum. The notice read, 'NOTICE IS HEREBY GIVEN THAT, pursuant to SEBI Master Circular for Mutual Funds dated June 27, 2024, regarding modification of nomenclature of schemes to align with the scheme categories, the names of following schemes of the Fund shall stand revised as under with effect from June 30, 2025.' Also Read | MNC mutual funds struggle to perform, lose 3% in 1 year. What's driving the underperformance? Best MF to invest Looking for the best mutual funds to invest? Here are our recommendations. View Details » Quant Absolute Fund will be renamed as Quant Aggressive Hybrid Fund. Quant Active Fund will be renamed as Quant Multi Cap Fund. The name of Quant Multi Asset Fund will be changed to Quant Multi Asset Allocation Fund. And lastly, Quant ESG Equity Fund will be known as Quant ESG Integration Strategy Fund. Live Events The fund house further informed that all the other provisions and terms and conditions of the aforementioned Schemes shall remain unchanged. This notice-cum-addendum shall form an integral part of the SID and KIM of the aforementioned schemes and SAI of the Fund read with the addenda issued thereunder. Aditya Birla Sun Life Mutual Fund Aditya Birla Sun Life Mutual Fund has also changed the name of its three funds and the changes are effective from June 27. Aditya Birla Sun Life Frontline Equity Fund is now known as Aditya Birla Sun Life Large Cap Fund. Aditya Birla Sun Life Equity Advantage Fund is now renamed as Aditya Birla Sun Life Large & Mid Cap Fund. And the last fund is Aditya Birla Sun Life Pure Value Fund which is now known as Aditya Birla Sun Life Value Fund. Also Read | AMFI reshuffle: Mazagon Dock, MCX among 19 stocks that may be upgraded in H2 CY25 Aditya Birla Sun Life Mutual Fund further informed that the relevant changes will be carried out in the SID and KIM of the schemes. All other features and terms and conditions of SID and KIM of the schemes shall remain unchanged. This notice-cum-addendum forms an integral part of SID and KIM read with the addenda issued thereunder. Earlier this month, ICICI Prudential Mutual Fund announced the change in name of its two equity funds and mentioned that this move came pursuant to SEBI communication dated March 27, 2025, with respect to 'uniformity in the nomenclature of equity oriented schemes.
