Mutual fund managers pumped in over Rs 40,000 crore in debt markets during April-May this fiscal primarily on account of improved business sentiments.
This follows a fund infusion of nearly Rs 6 lakh crore in debt market in the last financial year. According to the Securities and Exchange Board of India (Sebi), fund managers invested net sum of Rs 17,389 crore in May and Rs 22,650 crore in April, taking the total amount to Rs 40,039 crore in the ongoing financial year.
In comparison, mutual funds invested a net amount of Rs 13,420 crore in equities during the first two months of 2015-16. "After a spectacular past fiscal, we are upbeat about overall inflows in equities and debt markets for the current financial year (2015-16) as well," an industry expert said.
This inflow has helped the mutual fund industry to reach around Rs 12 lakh crore mark in assets under management (AUM) by May-end. Mutual fund is an investment vehicle with a pool of funds collected from investors to buy securities such as stocks, bonds, money market instruments and similar assets.
Tata MF names R Ganesh as MD and CEO
Tata Asset Management has appointed R Ganesh as the Chief Executive and Managing Director of the company. He will take over from Arvind Sethi, who was appointed as the MD and CEO in December 2012, transitioning from his earlier position as an independent director of the company. In his new role, Ganesh would be responsible for steering the growth of the organisation as it continues to be positioned as an asset management firm with strategic presence in chosen segments. Ganesh would be assuming the charge on June 29, 2015. Prior to joining Tata Asset Management, he was Managing Director of Blackrock Inc. "The company is going through an interesting growth phase and Ganesh's appointment comes at the opportune time. He brings with him a rich global experience of growing organisations. "His ability to lead high performing teams to the next level of excellence and growth will benefit our organisation," Tata Asset Management Chairman F N Subedar said in a statement. The company has an asset base of about Rs 28,000 crore, including an overseas AUM of over Rs 1,800 crore.