The Hindu Business Line : Sunday, March 28, 2004

MUTUAL FUNDS
`MF industry must consolidate, have bigger, stronger players'
THE mutual funds industry must get into consolidation mode and turn itself into one that has "bigger and stronger players," according to Mr M. Damodaran, Chairman and Managing Director, UTI Asset Management Company Pvt. Ltd (UTIAMC). UTIAMC ... More

MFs told to increase rural penetration
THE mutual funds industry must strive to increase its penetration in the rural areas of the country, the Finance Secretary, Mr D.C. Gupta, has said. Addressing the national summit on `Emerging role of mutual funds in wealth management", ... More

MF distributors plan assn to fight service tax battle
DISTRIBUTORS have lost the service tax battle this year, but the war is still raging. The month-long stand off between distributors and asset management companies (AMCs) has ended with the distributors agreeing to pay the tax this year. AMC ... More

UTI hoping on IPO refunds to bolster its new offerings
UTI Mutual Fund, the country's largest mutual fund, is betting that investors will divert some of the refunds from the recent initial public offerings (IPOs) into its recently launched UTI Thematic Fund. This has prompted it to extend the last ... More

Govt mulling professional trustee co for mutual funds
A PROFESSIONAL trustee company that would simultaneously supervise a number of mutual funds may become reality in the mutual funds industry. The Government is considering the pros and cons of a change to the present system where individuals, ... More

TRENDS
Foreigners hold 30 pc shares in Nifty cos
FOREIGN hands control 30 per cent of India's top companies. We aren't xenophobic. If you look at the ownership of Indian companies, you might wonder if East India Company syndrome - a sort of creeping acquisition of effective control and ... More

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