Hinduja Group-led IIHL asked to submit new plan for Reliance Capital buy
New Delhi: The resolution of Reliance Capital insolvency case could hit a roadblock after the insurance regulator – Insurance Regulatory and Development Authority of India (IRDAI) – rejected Hinduja Group-led IIHL’s proposal to raise funds by pledging shares of Reliance General Insurance and Reliance Nippon Life Insurance. 

HDFC Life: Focus on innovative products & superior service
HDFC Life Insurance reported a decent performance in 2QFY24, with annualised premium equivalent (APE) in line with our projections at Rs 30.5 billion, representing a 7% y-o-y increase. However, there was a slight 3.4% shortfall in value of new business (VNB) and a 40 bps decrease in VNB margins. The APE growth of 7% y-o-y to Rs 30.5 billion was driven by the strong performance of ULIP, term, and annuity products, while non-par products saw a decline of 30% y-o-y. VNB increased by 4% y-o-y, with a marginal 3.4% miss, and margins declined by 80bp y-o-y to 26.2%. 

Ageas Federal Life Insurance launches Super Cash Plan for regular income and security. Check details

Ageas Federal Life Insurance (AFLI) has announced the launch of ‘Ageas Federal Life Insurance Super Cash Plan’ – a non-linked, participating savings plan for retail customers. This plan offers a combination of immediate liquidity and financial stability for the family, making it an efficient option for people seeking a stable income as well as financial protection, the insurer said in a statement.

Insurtech startup BimaKavach gets IRDAI licence for corporate insurance
Insurtech startup BimaKavach on Monday said that it has received a direct insurance broking licence from the Insurance Regulatory and Development Authority of India (IRDAI). The licence will enable the platform to expand its insurance products for businesses.

Sebi’s centralised system will make life easier for nominees
Thirty-seven-year-old Manish Sharma (name and professional details changed), an IT professional in Mumbai, lost his father nearly eight years ago due to a disease. When Sharma started going through his investments he realised that the process was not just tedious but there were hurdles galore. The added burden: His father had not named any nominee.

Anti-money laundering: Sebi releases fresh set of guidelines. Details here
The capital markets regulator Securities Exchange Board of India (Sebi) on Friday released a set of amendents on anti-money laundering standards and combating the financing of terrorism. These guidelines relate to the rules framed under the prevention of money laundering Act 2002. 

Atal Pension Yojana: Saving just Rs 7/day from age 18 can give you Rs 5000/month after retirement
Atal Pension Yojana calculation: By saving just Rs 7 per day from age 18 and investing this amount in an Atal Pension Yojana (APY) account on a monthly basis, you can ensure a pension of Rs 5000/month after retirement.

NPS assets soar 27% to ₹10.21-lakh crore as of Oct 7: PFRDA
Aided by strong show by the non-government sector, the National Pension System’s (NPS) assets under management (AUM) — including the corpus on Atal Pension Yojana (APY) — grew 27 per cent year-on-year to touch ₹10.21-lakh crore as of October 7, official PFRDA data showed. On October 8 of last year, the NPS assets under management stood at ₹8.04-lakh crore. 

5 best focused mutual funds which beat the benchmark index in the past 10 years
Prior to investing in a mutual fund scheme, retail investors are expected to weigh a number of pros and cons relating to the scheme and its returns, and rightly so!

PPFAS Mutual Fund launches Parag Parikh Arbitrage Fund
PPFAS Mutual Fund announced the launch of the Parag Parikh Arbitrage Fund. The new fund offer (NFO) of the scheme will open on October 23 and close for subscription on October 27.

Focused funds can boost your Mutual Fund portfolio
Experienced and long-term equity investors on the lookout for schemes where the fund manager can take concentrated high-conviction bets with a maximum of 30 stocks in the portfolio can consider focused equity mutual fund

Passive mid cap funds fail to beat benchmarks in 2023; Axis Nifty Midcap 50 Index Fund give 31.85%

The passively-managed mid cap schemes have offered an average return of around 25.93% in 2023 so far. There were around 11 passively-managed mid cap schemes and all of them failed to beat their respective benchmarks in 2023. However, all passively-managed mid cap schemes offered more than 15% in 2023.

'Go for small cap funds, but for longer durations'

Investors with negligible exposure to small caps can use the new fund offers (NFO) of Baroda BNP Paribas and Quantum Small Cap to allocate money to the space. Wealth managers believe an allocation to small-caps is essential to generate alpha as it has high growth companies and is under researched.

Vivriti closes $200 million bond fund
Vivriti Asset Management (VAM), a performing credit-focused asset manager, on Monday announced closure of its diversified bond fund (DBF) with over $200 million of commitments.

India bond yields rise as spike in oil prices hurts sentiment
Indian government bond yields ended higher on Monday as a rise in oil prices weighed on the sentiment, while investors remained wary of the central bank's next move on additional supply.

FPI buying in index eligible government bonds picks up pace

Mumbai: Overseas investors have accelerated purchases of government securities in a segment that global index bond providers consider eligible for their platforms. These purchases follow JP Morgan's inclusion of Indian debt in its index and ahead of a review this month by advisors to the Bloomberg Fixed Income Index.

India Inc raised 54% more resources via bonds in H1 of FY24
While India Inc. raised 54 per cent more resources via bonds in the first half (H1) of FY24, the momentum could turn sluggish for a couple of months due to tight liquidity in the system and a rise in bond yields, according to Venkatakrishnan Srinivasan, Founder and Managing Partner, Rockfort Fincap LLP. Thereafter, the market is expected to turn buoyant.