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Business Standard
10-07-2025
- Business
- Business Standard
SBI MF enters SIF space with new offerings under 'Magnum' brand name: Dy MD
SBI Mutual Fund (MF), the largest fund house in India, is set to enter the specialised investment fund (SIF) space under the 'Magnum' brand. The fund house, which recently received the licence, is exploring products in the equity and hybrid space, said D P Singh, Deputy Managing Director and Joint Chief Executive Officer, SBI MF. The fund house said it chose the name Magnum considering the existing brand association. Many of SBI MF's earlier schemes carried the Magnum name. 'We have sufficient in-house talent with a large and highly experienced investment team, and we plan to leverage on the expertise of our existing team for managing the investment strategies under SIF,' Singh said. SBI is the fifth fund house to announce a foray into the SIF segment. Edelweiss, ITI, Mirae Asset and Quant are the other fund houses that have secured licences. Other players like Axis and Nippon have also announced their plans to enter the space. Most fund houses planning to launch SIFs have opted to rely on their existing fund management teams. SIFs are a new product segment within the mutual fund framework that offers fund managers more flexibility in terms of investment strategy. These funds, which have a minimum ticket size of ₹10 lakh, can be equity, debt or hybrid in structure. 'SIF strategies are more suitable for evolved investors who understand the markets and their technicalities, and for investors who are keen on investment strategies that are more advanced than mutual funds,' Singh said, adding that wealth counters of banks, individual and national distributors are best placed to distribute SIFs. The current SIF rules allow up to seven SIF products: two each in equity (equity long-short, equity ex-top 100 long-short, and sector rotation long-short), hybrid (active asset allocator long-short and hybrid long-short), and debt (long-short and sector long-short) categories.
Time of India
09-07-2025
- Business
- Time of India
ICICI Prudential AMC IPO: Fund house plans mega Rs 10,000 crore offering; files Draft Red Herring Prospectus
A joint venture between ICICI Bank and Prudential Corporation Holdings Limited, the fund house has been operating since 1998. (AI image) Mumbai: ICICI Prudential Asset Management Company Ltd has filed its Draft Red Herring Prospectus with markets regulator SEBI for a Rs 10,000 crore IPO. The shares on offer constitute 10% of the total equity of the fund house. A joint venture between ICICI Bank and Prudential Corporation Holdings Limited, the fund house has been operating since 1998. It is the second largest asset management company in India after SBI Mutual Fund and has a 13.3% share in the assets managed by the industry. In addition to its mutual fund business, it also has a growing alternates business comprising portfolio management services, management of alternative investment funds and advisory services to offshore clients. The offer is being made through the book-building process, wherein not more than 50% of the net offer is allocated to qualified institutional buyers, and not less than 15% and 35% of the net offer is assigned to non-institutional bidders and retail individual bidders respectively. ICICI Prudential Mutual Fund will be the fourth asset management company to go public. HDFC Mutual Fund, SBI Mutual Fund, Nippon Life Mutual Fund and Aditya Birla Sun Life Mutual Fund are already listed on Indian stock markets. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giá vàng đang tăng mạnh trong năm 2025 — Các nhà giao dịch thông minh đã tham gia IC Markets Tìm hiểu thêm Undo Asset management companies have done well in recent years, riding on the multi-year bull run in the stock markets and the phenomenal surge in investor interest. ICICI Prudential AMC Limited's revenue from operations increased 32.4% from Rs 3,758 crore in 2023-24 to Rs 4,977 crore in 2024-25. Profit after tax increased 29.3% to Rs 2,651 crore in the financial year 2024-25, compared to Rs 2,050 crore in the previous year. ICICI Prudential is a trusted name in the financial space and its parent company ICICI Bank gives it a strong brand reputation. However, its IPO might face strong competition from already-listed giants like HDFC Mutual Fund and SBI Mutual Fund, which have established market positions and investor trust. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Business Standard
09-07-2025
- Business
- Business Standard
Elgi Equipments jumps after SBI MF hikes stake
Elgi Equipments surged 5.95% to Rs 565.95 after SBI Mutual Fund acquired 18.12 lakh shares in a bulk deal on Tuesday, 8 July 2025. The transaction, executed on the BSE at Rs 532 per share, represents a 0.57% stake in the company. This fresh investment adds to SBI Small Cap Fund's existing holding of 3.22% in Elgi Equipments, as per the shareholding pattern disclosed for March 2025. Elgi Equipments is a leading manufacturer of air compressors. On a consolidated basis, net profit of Elgi Equipments rose 33.79% to Rs 102 crore while net sales rose 14.66% to Rs 992.90 crore in Q4 March 2025 over Q4 March 2024.
Economic Times
09-07-2025
- Business
- Economic Times
Elgi Equipments shares gain 5% after bulk deal by SBI Mutual Fund
Shares of Elgi Equipments rose nearly 5% on Wednesday, trading around Rs 560. The stock's upward movement followed a significant bulk deal and a routine regulatory disclosure by the company. ADVERTISEMENT On July 8, 2025, SBI Mutual Fund acquired 1,812,760 shares of Elgi Equipments through a bulk deal at a price of Rs 532 per share, indicating strong institutional interest in the stock. In addition to the bulk transaction, the company submitted its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. This regulation mandates confirmation of securities dematerialised during the quarter. According to the filing, Elgi Equipments confirmed that all securities received for dematerialisation for the quarter ended June 30, 2025, were processed by its Registrar and Share Transfer Agent, MUFG Intime India Pvt Ltd. The securities were either accepted or rejected by the depositories, and relevant updates were made in the company's register of members.'The security certificates received were mutilated and cancelled after verification, and the depositories' names were substituted as the registered owners within the prescribed timelines,' the company stated in its the regulatory update is a routine compliance measure, it assures investors that Elgi Equipments continues to meet SEBI's procedural requirements. ADVERTISEMENT On the technical front, the Daily RSI (14) for Elgi Equipments stands at 56.6, indicating neutral to moderately bullish momentum. (Note: An RSI below 30 suggests the stock is oversold, while a reading above 70 indicates it may be overbought.)Additionally, the stock is showing strong bullish momentum across moving averages—it is currently trading above all 8 key Simple Moving Averages (SMAs), ranging from the 5-day to the 200-day SMA. This alignment of short- and long-term averages reinforces the stock's positive trend and indicates strong underlying support across timeframes. ADVERTISEMENT (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
07-07-2025
- Business
- Time of India
NFO Alert: SBI Mutual Fund launches NIFTY100 Low Volatility 30 Index Fund
SBI Mutual Fund has announced the launch of SBI Nifty100 Low Volatility 30 Index Fund , an open-ended scheme tracking the Nifty100 Low Volatility 30 Index. The new fund offer or NFO of the fund will open for subscription on July 8 and will close on July 22. Also Read | Mutual fund SIP guide: How to invest for the rest of 2025 Best MF to invest Looking for the best mutual funds to invest? Here are our recommendations. View Details » by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like "척추관협착증 통증 때문에 걷기 힘들다면?"..."비수술치료"로 통증 개선 됩니다! ort02a_강남정형외과병원 지금 예약 Undo The investment objective of the scheme is to provide returns that correspond to the total returns of the securities as represented by the underlying index, subject to tracking error. "The NIFTY100 Low Volatility 30 Index provides exposure to 30 of the least volatile companies within the NIFTY100 universe. It has a track record of delivering returns with lower risk than its parent index, the NIFTY100, over longer time horizons. The SBI NIFTY100 Low Volatility 30 Fund provides access to a proven passive strategy, ideal for investors seeking resilience in their portfolio and a relatively smoother path to long-term wealth creation ,' said Nand Kishore, MD & CEO, SBI Funds Management Limited. Live Events The fund will be benchmarked against the Nifty100 Low Volatility 30 Index and will be managed by Viral Chhadva. "Low-volatility investing is based on the principle that such stocks tend to cushion the impact of sudden market downturns. The NIFTY100 Low Volatility 30 Index is a focused equity index that tracks 30 of the least volatile companies within the NIFTY100 universe. The SBI NIFTY100 Low Volatility 30 Fund provides investors access to a passive investment strategy that complements traditional approaches, providing prudent investors with a relatively calmer path to long-term wealth creation," said D P Singh, Deputy MD and Joint CEO, SBI Funds Management. The scheme would primarily invest a minimum of 95% and a maximum of 100% of its assets in stocks comprising the Nifty100 Low Volatility 30 Index and up to 5% in Government securities (like G-Secs, SDLs, and treasury bills), including triparty repo and units of liquid mutual fund, according to a release by the fund house. Also Read | Mazagon Dock and Radico Khaitan among 19 stocks which are upgraded in H2 CY25 The minimum application amount during the NFO is Rs 5,000 and in multiples of Re 1 thereafter. Additional purchases can be made for a minimum of Rs 1,000 and in multiples of Re 1 thereafter. Investments can be made through SIPs (Systematic Investment Plans) on a daily, weekly, monthly, quarterly, semi-annual, or annual basis. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
