fund raising

Mirae Asset Investment Managers India hopes to close the current year with an AUM of Rs 1.5 lakh crore, up from Rs 1.20 lakh crore in December 2022, on the back of aggressive growth in systematic investments plans and its forte of equity-linked funds.
Mirae Asset is the only Korean fund operating in the country and since its entry in 2008, it has grown to become the 12th largest fund house in the country with an AUM of Rs 1.16 lakh crore as of February 2023.
Mirae Asset is fully-owned by the Mirae Financial Group of Seoul that globally manages over USD 225 billion assets.
Mirae, whose large-cap fund has an AUM of over Rs 30,000 crore, and an emerging fund with Rs 24,000 crore, has two subsidiaries in the country -- wealth management and a zero-brokerage equity broking arm.
As much as 90 per cent of its AUM are deployed in active equity funds, while the passive funds constitute Rs 3,000 crore, Swarup Mohanty, the chief executive of the fund house, told PTI.
"We're seeing good tract

Neelesh Surana

Neelesh Surana, chief investment officer, Mirae Asset Investment Managers. Surana talks about opportunities that have emerged in growth-oriented business post the time and price correction last year

Exchange traded funds back each security issued with physical stocks of a given commodity, creating a product considered free from counterparty risk

mutual funds

Customers can avail instant loans of up to Rs 3 crore by pledging their equity and debt MF holdings on a mobile app

chart

While a bull run pushed up returns, a disciplined approach and proper framework made all the difference in generating alpha for Neelesh Surana

equity, mf, mutual funds, cash, outflow, stocks, shares, investment

Fund house plans to strengthen its debt offerings

funds, mf, mutual funds, equity, outflow, inflow, investment, investors, stocks, market

Mirae Asset Investment Managers (India) Pvt Ltd on Wednesday said its assets under management have crossed the Rs 1 lakh crore mark.

ESG funds gaining traction in India, but doubts about them abound still

Mirae Asset ESG Sector Leaders ETF is an open-ended scheme tracking Nifty 100 ESG Sector Leaders Total Return Index. The second, an FoF, will invest predominantly in this ETF

MAHENDRA KUMAR JAJOO, CIO, (fixed income),  Mirae Asset Management India

RBI announced a series of confidence boosting measures, including commitment to conduct adequate OMOs, introducing for the first time, OMOs of state development loans, and online LTROs

GAURAV MISRA, senior fund manager at Mirae Asset Investment Managers

In the recent past, we have used the market volatility to add some quality franchises and replaced our weakest holdings. Overweight healthcare, insurance, automobiles/consumer discretionary.

The six units being planned to be listed are Vedanta Aluminium, Vedanta Oil & Gas, Vedanta Power, Vedanta Steel and Ferrous Materials, Vedanta Base Metals and Vedanta Limited

Vedanta

Shares of GMDC hit a record high of Rs 323.70 as they rallied 14%, surpassing its previous high of Rs 316.18 touched on November 12, 2007

Lignite

To push their products in the Indian market, Apple Inc has not passed on to customers the cost of the hefty dealer margins offered to iPhone resellers and distributors

Apple Store Saket

How three men passionate about 'cool' motorcycles are trying to make India fall in love again with Jawa and Yezdi, with a leaf out of Royal Enfield's book

Jawa

The government is also likely to have sweeping powers to track, monitor, intercept, moderate and take down online content under the new law

aadhaar

A Dubai-bound Air India Express flight from Karipur international airport here was diverted to Kannur on Wednesday around an hour after take-off following the pilot noticing a fire warning light in the aircraft's cargo hold, airport sources said.
The flight -- IX 345 -- with 176 people, including the crew, onboard landed safely at Kannur around 11 am and all the passengers are fine, the source said.
The aircraft had taken off from Karipur airport at 9.53 am and an hour into the flight, the pilot noticed the warning light and decided to divert to Kannur, it added.
Air India Express said the warning light was a false alarm.
"Following a false alarm, our Kozhikode-Dubai flight has been diverted to Kannur. An alternative flight is being arranged to continue the scheduled operations to Dubai from Kannur.
"Air India Express regrets the delay and inconvenience caused to guests and provided food and refreshments," an airline spokesperson said.
An Air India Express flight from Sharjah whi

Air India

India is not planning any changes to its tax regime to help Indian government bonds be included on other global indices, a government source said on Wednesday

Under the scanner: Clutch of fund houses in a spot over tax credit claims

Tax , Tax scanner

The JD(S) had on September 22 joined hands with the BJP-led NDA to take on the Congress party in Karnataka in the 2024 Lok Sabha elections

DEVE GOWDA

The number of athletes fell by half after doping control officers of NADA reached the Jawaharlal Nehru Stadium

Lalit Kumar

The management has set an ambitious growth plan called 'Vision 2027', aimed at achieving a compound annual growth rate (CAGR) of at least 25 per cent

Gravita India

Tripura is planning to buy 80MW additional power to ensure uninterrupted electricity during Durga Puja, Power Minister Ratan Lal Nath has said.
This year, the state's power demand is expected to be around 380MW during the Durga Puja days, Nath said after a review meeting here on Friday.
In 2021, the state's peak hour demand during Durga Puja, the state's biggest festival, was 327MW, which rose to 332MW in 2022, he said.
"Like previous years, Tripura State Electricity Corporation Ltd (TSECL) has taken steps to provide uninterrupted power during Durga Puja. We expect the demand to be around 380MW this year during the festival days," he said.
"The state currently has 300MW power. TSECL will arrange an additional 80MW to meet the requirement during Durga Puja,' he added.
He hinted at cutting down power sales to Bangladesh to ensure adequate power supply during the festival days. At present, the state sells 100MW power to the neighbouring country daily.
Nath appealed to the Puja organ

Durga Puja festival

The Bengaluru Police have busted a Rs 854 crore cyber fraud scam and arrested six people who allegedly cheated thousands of victims across India on the pretext of an investment scheme, officials said on Saturday.
Out of the total cheated amount, Rs five crore had been frozen, they said.
The accused gang lured the victims through Whatsapp and Telegram. Initially, they were asked to invest smaller amounts ranging from Rs 1,000 to 10,000 on the pretext that they would earn Rs 1,000 to 5,000 per day as a profit, a senior police officer said.
Thousands of victims invested money ranging from Rs one lakh to 10 lakh or more, he said.
The money invested by the victims was dumped into different bank accounts through online payments. However, after completing the investment process, when the victim tried to withdraw the amount, they never got any refund, he added.
Once the amount was collected, the accused diverted the consolidated money to mule accounts (related to money laundering), the ..

arrest

The 'rail roko' stir of Punjab farmers demanding compensation for crops damaged in the recent floods, a legal guarantee on MSP and a sweeping debt waiver entered its third day on Saturday.
The agitation has hit the movement of trains, with many being cancelled, short-terminated or diverted, railway officials said.
The farmers have been blockading railway tracks at several places in Faridkot, Samrala, Moga, Hoshiarpur, Gurdaspur, Jalandhar, Tarn Taran, Sangrur, Patiala, Ferozepur, Bathinda and Amritsar since Thursday as part of their three-day agitation.
The protest has left hundreds of rail passengers stranded in Punjab and Haryana.
A railway passenger at Ludhiana station said he arrived from Jalandhar City by road to take a train to Gorakhpur but there is no information on when it will arrive.
Another passenger at the station said the agitation forced the cancellation of a train from Amritsar in which 12 of his family members were supposed to travel to Bihar.
They later learned 

farmers protest, rail roko

In cases registered or transferred to the CBI, teams have to visit the scene of the crime, recreate the scene, collect forensic evidence, and send it to the Central Forensic Science Laboratory

Biren Singh

The Indian women's volleyball team started their campaign at the Asian Games on a disappointing note, losing 1-3 to North Korea in their opening match here on Saturday.
India won the first set but failed to continue the momentum and lost to North Korea 25-23, 22-25, 17-25, and 16-25 in a Pool A match that lasted one hour and 53 minutes at the Deqing Sports Centre in Gymnasium.
North Korea's Hyonju Kim emerged as the star performer, scoring a maximum of 30 points, while India's Soorya scored a maximum of 18 points in the match.
India will face world no. 6 China in their next pool match on Sunday.
Indian men's team ended its campaign at the sixth place.

Mirae Asset Management

Korean fund house Mirae Asset eyes Rs 1.5 trillion AUM by December

Hunting for value in growth-oriented businesses: Mirae's Neelesh Surana

Mirae Asset Mutual Fund aims to launch precious ETF by Q1 next year

Mirae NBFC arm floats new product offering loans against MF holdings

Robust investment framework helps across market cycles: Mirae Asset CIO

Mirae Asset Mutual Fund's AUM crosses Rs 1-trillion mark

Mirae Asset MF assets under management crosses Rs 1 trillion

Mirae MF launches passive ESG funds, NFOs open between Oct 27-Nov 10

Market risk is temporary, credit risk permanent, says Mirae's Jajoo

We have not had any panic redemption in recent weeks: Mirae Asset