Too many funds make it harder to manage and rebalance your portfolio to efficiently reach your goals. But is it true that the ease of online investing nudges the investor to invest in too many funds? We looked at our data to answer this recently. Investors who come to Kuvera import their entire transaction history with us. So we have insights into who started investing when and how many funds their portfolio had over time. Below is the data.
We note -
1. Prior to 2011, there were no online platforms. Post-2011 clutter in the portfolio is coming down. The relationship is weak though. 2. There is a weak positive correlation between the age of the portfolio and the number of funds in the portfolio.
3. Investors who started with us have fewer funds on average and it will be interesting to see how this data matures.
Our findings suggest that advisory led online platforms can lead to better consolidation of portfolios and thus fewer funds in an investors portfolio.
India’s forex reserves are at an all-time high at $426.42 billion on 21st June, surpassing the previous high of $426.1 billion in April 2018. Key market indices broke their three-week losing streak to end the week with modest gains. Sensex and Nifty rose 0.51% and 0.55% to settle above 39,000 and 11,700 respectively. BSE Mid-Cap and BSE Small-Cap indices outperformed the Sensex this week. The market regulator has tightened the investment scope and directed the valuation method to be Mark to Market only. Liquid funds can now invest a maximum of 20% of assets in a single sector as against the previous cap of 25%. Further, the Board has laid down instructions for graded exit load if liquid fund units are redeemed within 7 days of investment. SEBI has amended the risk management framework and investment norms of Liquid Funds.
“The measures we have taken will help revive the confidence of investors, especially those investing in debt MFs," - Ajay Tyagi, SEBI Chairman.
DHFL Mutual Fund has about the proposed change in Controlling Interest of the AMC. Prudential Financial, Inc (PFI), the current co-sponsor, intends to increase their stake to 100% in DHFL Pramerica Mutual Fund (DPMF). Unitholders (as on 25th June) who do not wish to retain their holdings in schemes of DHFL Mutual Fund can redeem their units without any exit load between 29th June and 28th July 2019. informed their unitholders Index Returns
Index Weekly open Weekly close Change BSE Sensex 39,194.49 39,394.64 0.51% Nifty 11,724.10 11,788.85 0.55% S&P BSE SmallCap 14,084.24 14,239.33 1.10% S&P BSE MidCap 14,624.59 14,808.34 1.26% Source- BSE/NSE Top 5 best performing funds Source – Kuvera.in Top 5 worst performing funds Source – Kuvera.in
We saw the most inflows in these 5 Funds –
What investors bought Source – Kuvera.in
We saw the most outflows in these 5 Funds –
What investors sold Source – Kuvera.in Movers & Shakers 1/ has announced the change in scheme name of L&T Mutual Fund L&T Dynamic Equity Fund to L&T Balanced Advantage Fund, with effect from 01 August 2019. 2/ has announced that Harish Engineer has been appointed as an Independent Director on the board of the AMC. Aditya Birla Sun Life Mutual Fund 3/ has announced that Shefali B Suri has ceased to be the Key Personnel of the AMC. Y V Padmavati has been appointed in her stead. LIC Mutual Fund
Gaurav Rastogi is the CEO of
Kuvera.in: India’s first completely free Direct Mutual Fund investing platform.