Investing in mutual funds has become increasingly popular over the years. However, choosing the right mutual fund can sometimes be a daunting task. If you want to grow your money, make sure to put it in long-term mutual funds. It’s crucial to watch out for the consistency, and duration of performance before making an investment in any mutual fund.
From Mutual funds gaining popularity among investors to new fund offerings (NFOs) to Silver exchange-traded funds (ETFs) becoming popular. Let’s take a look at the top three developments in one week that MF investors must know
Retail investors’ average ticket size declines to ₹68,321 in FY23
Mutual funds as an investment vehicle have gained popularity among investors, although the average ticket size of retail investors has dropped by close to 3 per cent to ₹68,321 in March this year. The retail investors had an average account size of ₹70,199 as of March 2022 as compared to an average account size of ₹68,321 at the end of March this year, according to data published by the Association of Mutual Funds in India (Amfi).
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UTI Mutual Fund launches UTI Nifty 500 Value 50 Index Fund
UTI Mutual Fund has launched UTI Nifty 500 Value 50 Index Fund, an open-ended scheme replicating/tracking the Nifty 500 Value 50 Total Return Index [TRI]. The New Fund Offer closed for subscription on May 8. The performance of the UTI Nifty 500 Value 50 Index Fund will be benchmarked against Nifty 500 Value 50 TRI. The scheme will be managed by Sharwan Kumar Goyal and Ayush Jain. The scheme will offer subscription and redemption of units at applicable NAV on every business day on an ongoing basis, within five business days from the date of allotment.
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Silver ETFs getting investors’ traction; asset bases reach ₹1,800 crore
Silver exchange-traded funds (ETFs) are becoming popular among investors as the newly-created investment class has attained an asset base of nearly ₹1,800 crore till March 2023 within one and half years of the introduction of the product by markets regulator Sebi. According to data from the Association of Mutual Funds in India (Amfi), the industry has seven silver ETFs– Nippon India Silver ETF, ICICI Prudential Silver ETF, Aditya Birla Sun Life Silver ETF, HDFC Silver ETF, Axis Silver ETF, Kotak Silver ETF, and DSP Silver ETF– with an asset under management of ₹1,792 crore as of March 2023.
