The portfolio is well diversified yet retains large positions in its top bets. The fund endured a blip in performance between 2017-2020 but came back strong in 2021 and 2022. The shift in market’s preference towards value has helped the fund recover smartly.

"By easing the compliance burden, Sebi aims to foster the growth of passive investments in the Indian mutual fund industry," Sebi whole-time member Ananta Barua said while speaking at the mutual fund summit organised by industry body Assocham in the national capital.

​Parag Parikh Flexi Cap Fund completes 10 years of existence next week. The scheme was launched in May 2013. The scheme has offered 18.26% returns since inception.

Market experts have been asking investors to tone down their expectations from equity investments. However, if you look at the performance chart, you will be pleasantly surprised that your equity funds offered double-digit returns in one year.

The performance of the scheme will be benchmarked against the NIFTY 200 Momentum 30 Index (Total Return Index). The scheme will be managed by Devender Singhal, Satish Dondapati, and Abhishek Bisen.

​But my own belief is as interest rates start coming down the next year and supported by good growth coming in, probably we should see some kind of premium valuation starts coming in, which probably should see it coming in next year.

Kotak Nifty PSU Bank ETF and Nippon India ETF Nifty PSU Bank BeES offered 67.09% and 67.08% returns respectively in a year. NIFTY PSU BANK - TRI, the benchmark for these two schemes, offered 68.19% in the one-year horizon.

A Dynamic Bond Fund or any other debt fund which invests in long-term debt instruments is highly sensitive to interest rate movements. Thus, in a short period of time, returns could be highly volatile and can even be negative. However, over a longer time frame of over 2-3 years period, returns tend to normalise along with the interest rate cycles.

From an investment point of view, due to its lower correlation with equities and gold-like behaviour when it comes to robustness during times of economic turmoil, silver becomes a very compelling asset to be included in an investor portfolio.

I think a lot of it has to do to my mind with two or three things. One is your external account situation obviously has gone through a sea change because energy prices are down, service exports have done well. The dollar itself has weakened.

“The size of Parag Parikh Flexi Cap Fund has surely grown over the last decade. This has prompted some to wonder whether we should close for fresh investments. We are not considering this for now,” Thakkar said.

Three index funds, two thematic funds, a fixed maturity plan, value fund, and an ELSS fund are open for subscription in the market. Should you invest in these new fund offers to maximize the returns from your mutual fund portfolio?

In addition to ETF, in the index funds too, HNIs have witnessed an AUM CAGR of 145 per cent over the past four years. Apart from HNIs, retail AUM in ETFs has posted a CAGR of 56 per cent over FY19-23 to Rs 9,700 crore in FY23.

While past returns are an important parameter to consider performance, they must not be looked at in isolation. The data that a large cap fund returned 20% in the last one year does not indicate much. It must be compared with its benchmark and other schemes in the large cap space.

I am sure looking at all angles from this thing, from the investor point of view, from the industry point of view, from the intermediary point of view and more than anything else keeping in view the growth of the industry, I think the final whatever will come will be for the benefit of everybody.

The performance of the scheme will be benchmarked against S&P BSE Housing TRI. The scheme will be managed by Sharwan Kumar Goyal and Ayush Jain.

The performance of the scheme will be benchmarked against NIFTY50 Equal Weight TRI. The scheme will be managed by Sharwan Kumar Goyal and Ayush Jain.

Sebi wanted to cap the Total Expense Ratio charged by mutual funds as the total costs incurred by investors were way above the prescribed fee. The Sebi also proposed a performance-linked fee. Will it make a big difference to mutual fund investors?

The RBI announced withdrawal of Rs 2,000 notes this week and have given time to deposit the notes with banks up to 30 September 2023. Also, a withdrawal of Rs 20,000 per person per day of notes in exchange is allowed.

10-year bond yields are expected to start rallying due to inflation and weakening macroeconomic data. Rate cuts are expected to be built in over the next six months, and from RBI's perspective, around 50 bps of rate cuts are anticipated in the next year. Interest rates are expected to move lower, causing the addition of duration to all portfolios. Long bonds will perform well initially and short-term funds when rate cuts occur. Corporate bond spreads are attractive for the three- to five-year segment.

HDFC Defence Fund will follow a multi cap strategy and build a portfolio with a focus on growth and quality at reasonable valuations by investing across large-, mid- and small-cap stocks.

Around 11 mid cap schemes failed to beat their respective benchmarks in one, three, and five-year horizons. Tata Mid Cap Growth Fund, one of the oldest mid cap funds, underperformed its benchmark in all three horizons.

"Given the attractive spreads and higher interest in equities, arbitrage funds can deliver a 7% return. These returns are similar to liquid funds with better tax efficiency," said Viral Bhatt, founder of Money Mantra.

We examine the key fundamentals of the fund, its portfolio and performance to help you make an informed investment decision.

" Some signs of improvements are now showing. Earnings should start improving from 6-7% to 12-15% in around 6-12 months."

The underlying business and economic processes feed growth back into the input, enhancing growth further. That’s the actual meaning of the term compounding when applied to investments and growth.

Considering the underperformance of most mutual fund schemes, the proposal to introduce performance-linked expense ratios along the lines of Portfolio Management Services (PMS) is a step in the right direction, Gopal Kavalireddi, Head of Research at FYERS, said.

Out of 68 international schemes that are in the market, 30 schemes offered double-digit returns in this year till date. 24 schemes offered single-digit returns and 14 schemes gave negative returns.

​So I think the impact on the listed players would be minimized to the extent that they will benefit from larger flows, I would say, because their costs would be much lower compared to a smaller AMC.

​And not necessarily that every recommendation that is coming in would pass through or would get accepted or would get rejected. Therefore, one has to just see within this which are the one would actually be dropped.

The recommendations are aimed at bringing down mis-selling and reducing costs of investing in mutual funds.

Both indices had risen in early trades but gains fizzled out in the later part of the session. The Sensex ended at 61,431.74, down 128.90 points, or 0.21%, from Wednesday's close. The Nifty declined 51.80 points, or 0.28%, from the previous close to settle at 18,129.95.

The performance of the scheme will be benchmarked against S&P BSE Sensex TRI. The scheme will be managed by Raviprakash Sharma.

Multi asset funds are mandated to invest in three asset classes - typically equities, debt, gold. As per Sebi norms, they should invest atleast 10% in three asset classes. Mutual fund advisors say the portfolio composition makes them relatively safe.

As many individuals move to the new income tax regime, investment believe tax saving mutual funds might find fewer takers in the coming days. ELSS help investors to save taxes of up to Rs 1.5 lakh under Section 80C of the Income Tax Act.

There are cycles in the market between so-called value and growth and quality. I think as you really see inflation coming off, the interest rate cycle coming to a pause, if not on the cutting side, I think that leads to a significant amount of momentum on the growth side of the macro economy and at the same time growth side of the market.

The Sensex ended at 61,560.64, down 371.83 points or 0.6% from the previous close. The Nifty declined 104.75 points or 0.57% to end at 18,181.75. Short covering in the later part of the day helped both the indices recoup some of their losses after falling nearly 1% earlier in the session.

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The scheme will be managed by Shiv Chanani. The scheme will be benchmarked against the Nifty 500 Index.

Equity mutual funds invest in stocks and the stock market can be extremely volatile and risky, especially in the short term. That’s why many investors never invest in equity mutual funds to build wealth or pocket better after-tax returns.

"In a multipolar world, defence expenditure globally is set to increase as countries enhance their defence capabilities. Self-reliance in defence led by strong R&D (Research and Development) focus and enhancement of manufacturing capabilities creates opportunity for Indian companies to serve domestic market as well as tap large export potential. This could offer a multi-decadal investment opportunity," said Abhishek Poddar - Fund Manager - Equity and Senior Equity Analyst, Dealing and Investments at HDFC AMC.

Investors can use mutual fund products to invest across a range of asset classes, be it equity, fixed income, precious metals, international funds and even real estate.

"Over the past few months, we have witnessed gold prices rising. While gold prices rose, some investors would have chosen to book profits or take on risk on approach with a view that central banks would pause further rate hikes," Himanshu Srivastava, Associate Director - Manager Research at Morningstar India, said.

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After dazzling investors with impressive returns in the one year, these schemes that track the precious metal are down 4% in one month. Should investors be bothered about the recent weakness in the precious metal fund?

An ELSS fund and a thematic fund are currently open for subscription in the market. Should you invest in these NFOs to maximize the returns from your mutual fund portfolio?

We have generated more than 20% cumulative alpha over the last 2 years. Since the last 8 months, I have taken over the flexi fund which has started to see early signs of turnaround by being in the top quartile within 3 months.

Market-linked debentures (MLDs) that were earlier taxed at 10% after a holding period of more than a year are now taxed at marginal tax rates. Even investments in debt mutual funds are now taxed at marginal tax rates without any indexation benefits, irrespective of the duration of the investments.

"While March's outflow was a natural and expected year-end phenomenon. It is difficult to ascertain the reason behind this sudden turn in liquid fund inflows," Mayank Bhatnagar, Chief Operating Officer, FinEdge, said.

I think we are in the middle that is the challenge that you do not have a situation where I do not think we are in greed, if you have greed you will have huge local mutual fund inflow.

Positive macroeconomic data and normal monsoon forecasts boosted equity markets at the end of last week, with IT, realty and FMCG all seeing gains. RIL saw a 3% rise, but Page Industries saw a drop of 8.78%. Senior Technical Analyst, Swastika Investmart, Pravesh Gour, recommends buying RIL stocks as it has seen a breakout of inverse head and shoulder formation on the longer timeframe with strong volume, suggesting a potential bullish reversal. Med Plus is risky but currently trading above its moving averages, and Page Industries is a good buy for the long term.

Asian shares and US stock futures have both risen following a deal between US President Joe Biden and congressional Republican Kevin McCarthy to suspend the government's debt ceiling. This ends months of concern and anxiety among investors who feared an economically destabilising default. The deal will now go through the Democrat-controlled Senate and House of Representatives. The positive news lifted the S&P 500 futures by 0.4%, while the Nasdaq futures firmed by 0.6%. AMSCI's broadest index of Asia-Pacific shares outside Japan rose by 0.3%.

​The Futures Long Position Scans identify these stocks based on their increasing or decreasing buy positions.​

Gold prices declined by 0.3% and settled at $1,941.45 per ounce as a deal on the U.S. debt ceiling and concerns over the long-term interest rates favoured the US dollar. According to the CME FedWatch tool, the chances of a 25-basis-point increase by the U.S. Federal Reserve in June have mounted to 64.2%, suppressing the yellow metal's demand. On the other hand, Asian shares and U.S. stock futures soared, while palladium increased by 0.3% to $1,427.39.

Oil prices increased in early Asian trade on Monday after the US leaders reached a debt ceiling deal. Brent crude futures climbed to $77.34 a barrel while US West Texas Intermediate crude was at $73.12 a barrel. US President Joe Biden and House Speaker Kevin McCarthy reached an agreement in principle to suspend the $31.4tn debt ceiling. However, the relief in global financial markets could be short-lived as the US Treasury is expected to issue bonds that will further tighten liquidity, making funding more expensive for companies already suffering from high interest rates.

The US dollar strengthened as its economy proved resilient, leading to increased market expectations for further rate hikes by the Federal Reserve and higher US Treasury yields. The greenback reached a fresh six-month high against the yen and was on track for a monthly gain of over 3% against the Japanese currency. News that a debt ceiling deal had been reached added to the risk-on sentiment. Against a basket of currencies, the US dollar rose slightly from Friday's level to 104.29. The Turkish lira remained under pressure and hit a record low of 20.06 per dollar.

The compromise after weeks of intense talks offers a path back from the precipice, even as the clock is still ticking down to the June 5 "X-date" when the Treasury estimates there might not be enough cash to pay bills and debts.

Option data suggests a broader trading range in between 18200 to 18800 zones while an immediate trading range in between 18300 to 18650 zones.

Aurobindo Pharma posted net profit of Rs 505 crore for the quarter ended March. The company's revenue stood at Rs 6,479 crore.

The Ebitda margins expanded 890 YoY basis points to 26.2%. Occupied bed days increased by 25.6% YoY, representing an occupancy of 58% on increased bed capacity.

U.S. President Joe Biden and top congressional Republican Kevin McCarthy on Saturday reached a tentative deal to raise the federal government's $31.4 trillion debt ceiling, two sources familiar with the negotiations said, potentially averting an economically destabilizing default.

In a separate statement, the company said "PFC Group clocked the highest PAT (profit after tax) with a 13% increase from ₹18,768 crore in FY22 to ₹21,179 crore in FY23."

"Everstone, which also operates Subway and Lavazza coffee in India, is looking to cash out from its stake in Burger King, and is now actively engaged in due diligence with private equity firms General Atlantic and Advent," one of the executives said.

To put it very simply, we will want to be known as a company that funds entrepreneurs. We would continue to be known as the company that actually funds people who find it hard to get money from the organised sector.

The government provided a blanket exemption from angel tax to various structures such as pension and sovereign wealth funds, among others investing in India from 21 countries, but corporate entities were left out, making them potentially liable to the levy.

The US dollar, which has benefited from angst around the statutory borrowing limit, will be in focus as another week of trading begins at 5 a.m. Monday in Sydney. Liquidity is set to be thin with US and UK markets closed Monday for national holidays, although futures contracts referencing US Treasuries and the S&P 500 Index will trade.

In an email to about 20 fund officials and senior professionals, Sebi has asked them to suggest ways to lessen the compliance burden on the funds, which, many in the industry believe, has led to a regulatory overkill.

​On weekly chart, the index has formed a long bullish candle forming a higher high-low than the previous week and has closed above the previous week’s high, indicating positive bias.

The buyout fund will be buying 90% of the company, with the housing finance company retaining a 10% stake that it may sell over a two-year period. A formal announcement is expected by June end, ahead of the mega merger between HDFC Bank and HDFC to create the world’s fourth-largest bank. Both sides are finalising legal documentation, said the people cited above.

As government defaults rise to a record in the developing world, the debate is growing frantic over how to solve these debt crises. Restructuring talks are stalling, with some countries turning to old-school sweeteners and others calling to revamp the G20's Common Framework.

European banks likely to be affected by the impasse between the European Securities and Markets Authority (ESMA) and the Reserve Bank of India (RBI) may bypass the contentious overseas regulations by holding less than half of the domestic entity, sources close to the development said.

The Reserve Bank of India's decision to exempt cash reserve ratio and statutory liquidity ratio on fresh inflows through NRI deposit schemes, and relax the interest rate cap, has led to a surge in foreign currency non-resident (bank) or FCNR (B) deposits. Fresh inflows through various NRI deposit schemes more-than-doubled to $7.9bn in FY23 from $3.2bn in FY22, while net inflows for FCNR (B) deposits were $2.4bn compared to outflows of $3.5bn in the previous year.

Banks in India saw a fall in loan loss provisioning for the fifth consecutive period, indicating improving asset quality and sustained collection efficiency. Cumulative bad loan provisioning declined by 42.5% to Rs 18,354.4 crore, the lowest since March 2019 quarter, indicating an overall improvement in the country's banking system.

Nikhil Zelawat, a trader and fintech entrepreneur from Mandsaur, has developed two trading tools, including a trade journal and an emoji-based stock screener, to simplify data use. The screener uses various emojis to represent technical parameters and the resulting "face" helps Zelawat to understand the data and take appropriate action. He additionally elaborates on his profitable trading strategies, including the use of 3-4 systems for trending and sideways markets. Zelawat spent two years as a software engineer in Bengaluru before becoming a full-time trader with mentor support.

Indian equities climbed up by 1% as the Reliance Industries and IT giant stocks surged upwards. Domestic investors are optimistic that India's FY23 GDP is expected to exceed the earlier growth rate of 7.0%, as the country is likely to have a normal monsoon and consistent FII buying, boosting its economic growth further. The bullish trend is likely to continue, and traders are looking for a broader range of support and resistance levels. Elsewhere, US talks of raising the debt ceiling have led to a growth in European shares and Wall Street's indexes.

Copper prices have fallen over 8% on the back of lower-than-anticipated demand from China, which is the largest consumer of the metal, accounting for over 50% of global consumption. Copper had been rising at the start of the year on the expectation that China’s property market would strengthen, but disappointing economic releases have weighed on the price. The industry is considered a leading indicator of global economic health and is used widely in renewable energy technologies, electronics, vehicles, and electrical grids. The US Federal Reserve's policy measures also put a dampener on business sentiment.

There are different types of fixed-income instruments that are available in the market. Bonds and Public Provident Funds (PPF) are two such instruments that are quite popular among investors. While both avenues offer assured returns, they are quite different. Before starting with the investments, investors should understand the concept of bonds and the Public Provident Fund and see how they differ.

Money managers draw analogies between cricket and investing. Abhishek Banerjee, smallcase manager and CEO of Lotusdew, compares RBI's management of inflation to India's 1983 Cricket World Cup win. Banerjee says he picks pinch-hitters like a captain selects strategies for a cricket match. He believes it's necessary to have all types of players, like heavy hitters and good fielders in a cricket team, for a successful investment portfolio. Banerjee sees an index fund as playing a Test match and a stock basket for T20 and One Day matches in investment strategies.

Hi-Tech Pipes Ltd has reported a 42% increase in its consolidated net profit to nearly INR 16 crore in the March 2023 quarter, driven by higher revenues. The revenue from operations increased by 18% to INR 701.85 crore compared to the year-ago quarter. Its Chairman and Managing Director (CMD) Ajay Kumar Bansal said that the company has registered the highest-ever sales volume, revenue, PAT, and EBIDTA during this quarter. Additionally, its greenfield facility of large diameter pipes in Gujarat is expected to commence commercial production from the third quarter of FY24.

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The outlook for gold is weak due to the US debt ceiling crisis nearing resolution and the strong Dollar Index. Physical gold and silver buyers can take advantage of the expected correction in prices. Gold prices in Delhi are at around Rs 60,800 per 10 grams, while silver is priced at Rs 73,000 per kg. Traders can book profits in gold and silver futures, said Anuj Gupta, VP of Commodity and Currency Research at IIFL Securities. June Gold futures have support at Rs 58,800-Rs 59,400 and resistance at Rs 60,000-Rs 60,400, while support for Gold futures on COMEX is at $1920-$1890 and resistance at $1960-$1980.

Nifty stocks fell short of the estimated 10.6% with 9.7% while Nifty 500's earnings improved by 11.7% compared to the estimated 8.9%, indicating the outperformance of mid- and small-caps. Equity markets will take cues from macro data, US debt negotiations, and central bank policy meetings. Companies such as Adani Transmission, IRCTC, NHPC, Torrent Power, and Mazagon Dock Shipbuilders are among many to release the Q4 earnings in the last week of May.

​​Even though stock prices may have moderated, broad valuations have not valued the full trouble. Like the one-year forward valuations of large and midcaps continue to trade at a premium. India’s one-year forward consolidated P/E is at +18x, marginally above the long-term average of 17x. The Q4FY23 result is mixed, and the outlook suggests a downgrade in earnings for 2023.

Founder and CEO of Hedged, Rahul Ghose, predicts that both Nifty and Bank Nifty will exceed previous highs in June, especially with strong support from foreign institutional investors in the cash market. Ghose advises that corrections in the market should be seized as buying opportunities. Past their all-time highs, Ghose expects the rally to slow down, however, the extent and speed of the rally will depend on the magnitude of FII flows. Likely to continue on its upward journey, Ghose suggests entering long on Apollo Tyres this week.

Gold prices closed the week with a loss of 1.60% at $1945.74, with the US dollar index recording a weekly gain of about 1% to reach 104.23, and 10-year US yields at 3.79% on Friday. Mixed US data releases on 27 May were mostly positive for the dollar and negative for bonds and gold, with real personal spending showing strength at 0.50%. A debt ceiling deal between US policymakers remained possible ahead of the 6-9 June date, boosting macroeconomic sentiment and hitting gold.

“The 4% less monsoon rainfall than the long period average of 100% can be attributed to an expected El Nino event in the Pacific. At present, in the equatorial Pacific, neutral conditions are there. However, model forecasts are showing that and the temperature are also seen warming over that region. Most of the models are indicating that in the next 2-3 months it will reach El Nino conditions.”

Foreign Portfolio Investors (FPIs) have invested Rs 37,316 crore in Indian equities in May, the highest in the past six months. This inflow is attributed to strong macroeconomic fundamentals and reasonable stock valuations. A positive resolution on the US debt ceiling and good domestic macro-economic data could lead to fresh asset flows from foreign investors. The recent quantitative tightening cycle in the US and India's outperformance in global equities has improved the FPI flow outlook. The sustained buying by FPIs has pushed the NSE's Nifty benchmark index up 2.4% in May so far.

The combined market valuation of seven of the top-ten most valued firms jumped Rs 1,51,140.39 crore last week, with Reliance Industries and Tata Consultancy Services emerging as the biggest gainers. While Reliance Industries, Tata Consultancy Services (TCS), Hindustan Unilever, ITC, Infosys, State Bank of India and Bharti Airtel made gains in their market valuation, HDFC Bank, ICICI Bank and HDFC faced erosion

Based on the midcap index's fresh life highs and Nifty testing psychological 18500 levels, analysts suggest that the index may maintain a positive bias and move towards 18800-18850 levels by the expiry, with aggressive put writing visible at 18400 and 18300 strikes for the coming week. Analysts advise bullish traders to opt for the long 18500 Call with a target of 150 and stop loss of 45 until expiry, as the open interest at the inception of June series and FII positions remain relatively low and fresh longs are formed in the index. However, high Nifty premiums may remain a cause of concern.

​VWAP or Volume Weighted Average Price is the average price of a stock, adjusted for its volume.​

ITC, Infosys and SBI will trade ex-dividend this week. ITC's board recommended a final dividend of Rs 6.75 and a special dividend of Rs 2.75 per equity share. SBI declared a dividend of Rs 11.30 per equity share and the payment date is fixed on June 14. On the other hand, Infosys has announced to pay a final dividend of Rs 17.50 per equity share. The record dates for the dividend payments have also been announced.

Indian stock markets ended the last week of May with strong gains and have begun the June series on a positive note; the Nifty50 gained 1.63% for the week and crossed the resistance of 18,400 to close at 18,499.35. Investors are advised to remain cautious as we approach the June series expiry. Markets will take cues from Wall Street, which will remain closed on Memorial Day. The week will also bring several important domestic and global economic events for investors to track, along with the possible impact of movements in the US debt ceiling, crude oil prices, and government bond yields on market performance.

The tentative deal between President Biden and Kevin McCarthy to raise the US debt ceiling may have negative consequences for financial markets. Once the deal has passed, the government is expected to make large bond issuances, which could lead to a liquidity drain from banks and cause financing to become more expensive for companies already struggling in a high-interest rate environment. Some banks fear that markets have not yet accounted for this risk, and some warn that delaying the resolution could cause volatility in the market. However, some believe that the drain on liquidity could be absorbed by money market mutual funds.

“It has been a while since Reliance Industries consolidated. The earnings were pretty strong. The O2C segment did pretty well while Jio continues and retail continues to get more traction. Also, the demerger of Jio Financial Services was another small trigger and the market was valuing it at about Rs 200-220.